Zai Lab Limited (NASDAQ:ZLAB) – Analysts at SVB Leerink lowered their FY2021 earnings estimates for Zai Lab in a research report issued to clients and investors on Monday, March 1st. SVB Leerink analyst J. Chang now expects that the company will earn ($4.68) per share for the year, down from their previous forecast of ($4.08). SVB Leerink has a “Outperform” rating and a $189.00 price objective on the stock. SVB Leerink also issued estimates for Zai Lab’s FY2022 earnings at ($1.88) EPS.
Several other equities research analysts have also weighed in on ZLAB. Jefferies Financial Group upped their price objective on Zai Lab from $130.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, February 8th. JPMorgan Chase & Co. upped their price target on Zai Lab from $101.00 to $111.00 in a research report on Monday, November 16th. Finally, Zacks Investment Research lowered Zai Lab from a “hold” rating to a “sell” rating in a research note on Saturday, February 6th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Zai Lab has a consensus rating of “Buy” and a consensus price target of $143.80.
Several institutional investors and hedge funds have recently made changes to their positions in ZLAB. Baillie Gifford & Co. grew its holdings in shares of Zai Lab by 6.9% during the fourth quarter. Baillie Gifford & Co. now owns 3,850,149 shares of the company’s stock worth $521,079,000 after purchasing an additional 247,713 shares during the last quarter. BlackRock Inc. increased its stake in shares of Zai Lab by 6.8% in the 4th quarter. BlackRock Inc. now owns 3,584,247 shares of the company’s stock valued at $485,093,000 after buying an additional 227,984 shares during the period. Bamco Inc. NY raised its position in shares of Zai Lab by 1.1% during the fourth quarter. Bamco Inc. NY now owns 2,046,155 shares of the company’s stock worth $276,927,000 after acquiring an additional 22,963 shares during the last quarter. Credit Suisse AG lifted its stake in shares of Zai Lab by 12.5% during the fourth quarter. Credit Suisse AG now owns 1,489,358 shares of the company’s stock valued at $201,570,000 after acquiring an additional 165,935 shares during the period. Finally, State Street Corp boosted its holdings in Zai Lab by 19.6% in the third quarter. State Street Corp now owns 1,057,241 shares of the company’s stock valued at $87,931,000 after acquiring an additional 173,296 shares during the last quarter. 81.32% of the stock is currently owned by institutional investors and hedge funds.
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, 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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