Zai Lab Limited Forecasted to Post FY2024 Earnings of ($3.50) Per Share (NASDAQ:ZLAB)

Zai Lab Limited (NASDAQ:ZLABFree Report) – Research analysts at Cantor Fitzgerald boosted their FY2024 earnings per share (EPS) estimates for Zai Lab in a report issued on Tuesday, April 23rd. Cantor Fitzgerald analyst L. Chen now anticipates that the company will post earnings per share of ($3.50) for the year, up from their previous estimate of ($3.53). Cantor Fitzgerald has a “Overweight” rating on the stock. The consensus estimate for Zai Lab’s current full-year earnings is ($3.28) per share.

Zai Lab (NASDAQ:ZLABGet Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.11). The firm had revenue of $65.83 million for the quarter, compared to analysts’ expectations of $70.41 million. Zai Lab had a negative net margin of 125.46% and a negative return on equity of 37.07%.

Separately, Citigroup lowered their price target on Zai Lab from $123.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Zai Lab has an average rating of “Buy” and an average price target of $64.22.

Check Out Our Latest Stock Analysis on Zai Lab

Zai Lab Price Performance

Shares of Zai Lab stock opened at $15.66 on Thursday. The business has a fifty day simple moving average of $17.63 and a two-hundred day simple moving average of $22.68. Zai Lab has a 12 month low of $13.48 and a 12 month high of $39.50.

Insiders Place Their Bets

In other Zai Lab news, insider Joshua L. Smiley sold 1,988 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $15.67, for a total value of $31,151.96. Following the completion of the transaction, the insider now owns 28,684 shares of the company’s stock, valued at approximately $449,478.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Zai Lab news, insider Joshua L. Smiley sold 1,988 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $15.67, for a total transaction of $31,151.96. Following the completion of the sale, the insider now directly owns 28,684 shares in the company, valued at approximately $449,478.28. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Rafael Amado sold 2,544 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $18.86, for a total value of $47,979.84. Following the sale, the insider now owns 20,093 shares of the company’s stock, valued at $378,953.98. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,568 shares of company stock valued at $208,508. 5.23% of the stock is owned by insiders.

Institutional Investors Weigh In On Zai Lab

A number of large investors have recently made changes to their positions in ZLAB. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Zai Lab by 7.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 121,627 shares of the company’s stock valued at $2,957,000 after purchasing an additional 8,590 shares during the period. TD Asset Management Inc grew its stake in shares of Zai Lab by 114.6% during the 3rd quarter. TD Asset Management Inc now owns 216,970 shares of the company’s stock valued at $5,275,000 after acquiring an additional 115,885 shares during the period. Hennion & Walsh Asset Management Inc. grew its stake in shares of Zai Lab by 89.5% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 22,355 shares of the company’s stock valued at $543,000 after acquiring an additional 10,561 shares during the period. Long Corridor Asset Management Ltd grew its stake in shares of Zai Lab by 93.8% during the 3rd quarter. Long Corridor Asset Management Ltd now owns 31,000 shares of the company’s stock valued at $754,000 after acquiring an additional 15,000 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its stake in shares of Zai Lab by 68.4% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,371 shares of the company’s stock valued at $33,000 after acquiring an additional 557 shares during the period. 41.65% of the stock is currently owned by institutional investors.

About Zai Lab

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Zai Lab Limited develops and commercializes therapies to treat oncology, autoimmune disorders, infectious diseases, and neuroscience. Its commercial products include Zejula, an orally administered poly polymerase 1/2 inhibitor; Optune, a cancer therapy that uses electric fields tuned to specific frequencies to kill tumor cells; NUZYRA for acute bacterial skin and skin structure infections, and community acquired bacterial pneumonia; Qinlock to treat gastrointestinal stromal tumors, and VYVGART, a human IgG1 antibody fragment for myesthenia gravis.

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