Zai Lab (NASDAQ:ZLAB) Price Target Cut to $101.00 by Analysts at SVB Leerink

Zai Lab (NASDAQ:ZLABGet Rating) had its target price cut by investment analysts at SVB Leerink from $102.00 to $101.00 in a research note issued on Thursday, Marketbeat reports. The brokerage currently has an “outperform” rating on the stock. SVB Leerink’s price objective indicates a potential upside of 132.77% from the stock’s previous close.

Several other equities analysts also recently issued reports on ZLAB. JPMorgan Chase & Co. cut their target price on Zai Lab from $136.00 to $112.00 and set an “overweight” rating on the stock in a research report on Monday, April 4th. Zacks Investment Research raised Zai Lab from a “sell” rating to a “hold” rating in a research report on Thursday, April 7th. Finally, Macquarie initiated coverage on Zai Lab in a research report on Friday, January 21st. They issued an “outperform” rating and a $64.00 target price on the stock. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $127.00.

Shares of ZLAB stock opened at $43.39 on Thursday. The business’s fifty day simple moving average is $44.85 and its 200-day simple moving average is $63.36. The company has a market cap of $4.18 billion, a PE ratio of -5.67 and a beta of 1.20. Zai Lab has a 12-month low of $25.74 and a 12-month high of $181.92.

In other Zai Lab news, Director John D. Diekman sold 1,000 shares of the stock in a transaction dated Friday, February 4th. The stock was sold at an average price of $50.17, for a total transaction of $50,170.00. The sale was disclosed in a filing with the SEC, which is available through this link. 6.26% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in ZLAB. Invesco Ltd. grew its position in Zai Lab by 232.4% during the 3rd quarter. Invesco Ltd. now owns 4,699,440 shares of the company’s stock worth $495,274,000 after purchasing an additional 3,285,522 shares during the period. Credit Suisse AG grew its position in Zai Lab by 98.2% during the 4th quarter. Credit Suisse AG now owns 2,928,592 shares of the company’s stock worth $184,062,000 after purchasing an additional 1,450,960 shares during the period. Viking Global Investors LP grew its position in Zai Lab by 90.5% during the 3rd quarter. Viking Global Investors LP now owns 2,932,456 shares of the company’s stock worth $309,052,000 after purchasing an additional 1,393,199 shares during the period. Genesis Investment Management LLP acquired a new stake in Zai Lab during the 1st quarter worth about $36,079,000. Finally, Segantii Capital Management Ltd grew its position in Zai Lab by 96.8% during the 4th quarter. Segantii Capital Management Ltd now owns 1,393,000 shares of the company’s stock worth $87,550,000 after purchasing an additional 685,003 shares during the period. 66.97% of the stock is currently owned by institutional investors.

About Zai Lab (Get Rating)

Zai Lab Limited develops and commercializes therapies to treat oncology, autoimmune disorders, infectious diseases, and neuroscience primarily in Mainland China and Hong Kong. The company's commercial products include Zejula, a once-daily small-molecule poly polymerase 1/2 inhibitor; Optune, a device that delivers tumor treating fields; NUZYRA for acute bacterial skin and skin structure infections, and community acquired bacterial pneumonia; and Qinlock to treat gastrointestinal stromal tumors.

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Analyst Recommendations for Zai Lab (NASDAQ:ZLAB)

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