Zai Lab (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 on Wednesday.

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. “

Several other research firms have also recently issued reports on ZLAB. BidaskClub upgraded shares of Zai Lab from a “hold” rating to a “buy” rating in a research report on Thursday, July 19th. ValuEngine upgraded shares of Zai Lab from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Finally, Leerink Swann initiated coverage on shares of Zai Lab in a research report on Thursday, June 21st. They set an “outperform” rating and a $43.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $37.50.

Zai Lab stock opened at $22.14 on Wednesday. The company has a market cap of $1.11 billion and a PE ratio of -9.54. Zai Lab has a 1 year low of $17.85 and a 1 year high of $35.74.

Several institutional investors have recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Zai Lab by 7.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 203,438 shares of the company’s stock valued at $4,343,000 after buying an additional 14,827 shares during the last quarter. BlackRock Inc. raised its position in shares of Zai Lab by 4,472.7% during the first quarter. BlackRock Inc. now owns 20,760 shares of the company’s stock valued at $443,000 after buying an additional 20,306 shares during the last quarter. Millennium Management LLC raised its position in shares of Zai Lab by 118.1% during the first quarter. Millennium Management LLC now owns 108,091 shares of the company’s stock valued at $2,308,000 after buying an additional 58,536 shares during the last quarter. Bamco Inc. NY bought a new stake in shares of Zai Lab during the first quarter valued at approximately $1,452,000. Finally, Segantii Capital Management Ltd raised its position in shares of Zai Lab by 38.8% during the second quarter. Segantii Capital Management Ltd now owns 534,445 shares of the company’s stock valued at $12,426,000 after buying an additional 149,445 shares during the last quarter. Hedge funds and other institutional investors own 21.66% of the company’s stock.

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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