JPMorgan Chase – Zai Lab (NASDAQ:ZLAB) Rating Lowered to Sell at Zacks Investment Research
Zai Lab (NASDAQ:ZLAB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday, Zacks.com reports.
According to Zacks, “Zai Lab Ltd is a biopharmaceutical company. It focused on medicines for cancer, autoimmune and infectious diseases primarily in China. The company’s product pipeline consists of ZL-2306, ZL-2401, ZL-2301, ZL-3101, ZL-2302 and ZL-1101 which are in clinical stage. Zai Lab Ltd is based in Pudong, China. “
Other equities analysts have also issued research reports about the company. SVB Leerink lifted their price target on Zai Lab from $107.00 to $189.00 and gave the stock an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. upped their target price on shares of Zai Lab from $101.00 to $111.00 in a research note on Monday, November 16th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $123.50.
Shares of NASDAQ:ZLAB opened at $177.52 on Friday. The stock has a fifty day simple moving average of $152.04 and a two-hundred day simple moving average of $104.08. Zai Lab has a 12-month low of $43.06 and a 12-month high of $193.54. The stock has a market capitalization of $10.32 billion, a price-to-earnings ratio of -58.59 and a beta of 0.95.
Institutional investors and hedge funds have recently made changes to their positions in the business. US Bancorp DE grew its stake in shares of Zai Lab by 111.9% during the 3rd quarter. US Bancorp DE now owns 1,714 shares of the company’s stock valued at $142,000 after purchasing an additional 905 shares during the period. DekaBank Deutsche Girozentrale increased its stake in shares of Zai Lab by 381.8% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 17,432 shares of the company’s stock worth $1,421,000 after purchasing an additional 13,814 shares in the last quarter. Swiss National Bank raised its holdings in Zai Lab by 37.0% in the 3rd quarter. Swiss National Bank now owns 136,871 shares of the company’s stock worth $11,384,000 after purchasing an additional 36,966 shares during the period. BlackRock Inc. lifted its position in Zai Lab by 12.6% during the third quarter. BlackRock Inc. now owns 3,356,263 shares of the company’s stock valued at $279,141,000 after purchasing an additional 374,276 shares in the last quarter. Finally, State Street Corp grew its holdings in Zai Lab by 19.6% during the third quarter. State Street Corp now owns 1,057,241 shares of the company’s stock valued at $87,931,000 after purchasing an additional 173,296 shares during the period. Institutional investors and hedge funds own 81.32% of the company’s stock.
Zai Lab Company Profile
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, autoimmune, and infectious diseases in China. The company offers Niraparib, an oral small molecule poly ADP ribose polymerase 1/2 inhibitor for the treatment of multiple solid tumors, including ovarian and other types of lung cancer; and Optune, a cancer therapy for the treatment of glioblastoma multiforme.
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