Zai Lab Ltd (NASDAQ:ZLAB) Given Consensus Rating of “Buy” by Analysts

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Shares of Zai Lab Ltd (NASDAQ:ZLAB) have been assigned a consensus recommendation of “Buy” from the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $92.75.

Several research firms have recently issued reports on ZLAB. Zacks Investment Research raised Zai Lab from a “hold” rating to a “buy” rating and set a $83.00 price target for the company in a research note on Saturday, June 6th. SVB Leerink lifted their price target on Zai Lab from $79.00 to $93.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Guggenheim lifted their price target on Zai Lab from $105.00 to $111.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Finally, BidaskClub downgraded Zai Lab from a “hold” rating to a “sell” rating in a research note on Friday, July 31st.

Hedge funds have recently made changes to their positions in the stock. Nuveen Asset Management LLC acquired a new position in Zai Lab in the 1st quarter valued at about $3,248,000. Deutsche Bank AG raised its stake in Zai Lab by 356.5% in the 1st quarter. Deutsche Bank AG now owns 107,858 shares of the company’s stock valued at $5,552,000 after purchasing an additional 84,230 shares during the last quarter. Alliancebernstein L.P. raised its stake in Zai Lab by 136.4% in the 1st quarter. Alliancebernstein L.P. now owns 32,265 shares of the company’s stock valued at $1,661,000 after purchasing an additional 18,615 shares during the last quarter. Legal & General Group Plc raised its stake in Zai Lab by 1,742.8% in the 1st quarter. Legal & General Group Plc now owns 154,129 shares of the company’s stock valued at $7,935,000 after purchasing an additional 145,765 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in Zai Lab by 579,845.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 63,794 shares of the company’s stock valued at $3,284,000 after purchasing an additional 63,783 shares during the last quarter. 81.32% of the stock is owned by hedge funds and other institutional investors.

Zai Lab stock traded down $0.39 during midday trading on Tuesday, reaching $77.91. The company’s stock had a trading volume of 311,696 shares, compared to its average volume of 366,576. Zai Lab has a fifty-two week low of $29.43 and a fifty-two week high of $89.48. The stock’s 50 day simple moving average is $80.23 and its 200 day simple moving average is $68.44.

About Zai Lab

Zai Lab Limited, a biopharmaceutical company, engages in discovering or licensing, developing, and commercializing proprietary therapeutics that address medical needs in the fields of oncology, and autoimmune and infectious disease therapies in the People's Republic of China. Its drug candidates include ZL-2306, a poly ADP ribose polymerase 1/2 inhibitor, which is in Phase III clinical trial for the treatment of ovarian, lung, and breast cancers; ZL-2401, an antibiotic that is in Phase III clinical trial to treat ABSSSI, CABP, and UTI; FPA144, a humanized monoclonal antibody, which is in Phase I/III clinical trial to treat gastric and gastroesophageal cancer; ETX2514, a novel ß-lactamase inhibitor that is in Phase II cUTI trial for the treatment of acinetobacter baumannii; and ZL-2301, which is in Phase III clinical trial to treat HCC.

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