Zai Lab (NASDAQ:ZLAB) Posts Quarterly Earnings Results, Beats Expectations By $0.38 EPS

Zai Lab (NASDAQ:ZLAB) issued its quarterly earnings data on Wednesday. The company reported ($0.55) EPS for the quarter, beating analysts’ consensus estimates of ($0.93) by $0.38, Zacks reports. Zai Lab had a negative return on equity of 37.07% and a negative net margin of 125.46%. The business had revenue of $87.15 million for the quarter, compared to analyst estimates of $77.07 million. During the same quarter in the prior year, the firm posted ($0.51) EPS.

Zai Lab Stock Up 25.7 %

Zai Lab stock traded up $4.26 on Thursday, hitting $20.83. The company’s stock had a trading volume of 2,457,989 shares, compared to its average volume of 638,142. Zai Lab has a one year low of $13.48 and a one year high of $39.50. The firm has a market cap of $2.07 billion, a P/E ratio of -5.97 and a beta of 1.11. The company has a fifty day moving average price of $16.78 and a 200-day moving average price of $22.12.

Insider Transactions at Zai Lab

In other Zai Lab news, insider Rafael Amado sold 2,544 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $18.86, for a total transaction of $47,979.84. Following the completion of the transaction, the insider now directly owns 20,093 shares in the company, valued at $378,953.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Joshua L. Smiley sold 1,988 shares of the firm’s stock in a transaction on 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 sale, the insider now directly owns 28,684 shares in the company, valued at $449,478.28. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Rafael Amado sold 2,544 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $18.86, for a total transaction of $47,979.84. Following the transaction, the insider now owns 20,093 shares in the company, valued at approximately $378,953.98. The disclosure for this sale can be found here. In the last three months, insiders sold 12,568 shares of company stock valued at $208,508. Company insiders own 5.23% of the company’s stock.

Analysts Set New Price Targets

ZLAB has been the subject of a number of research analyst reports. Citigroup cut their target price on shares of Zai Lab from $123.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Cantor Fitzgerald restated an “overweight” rating on shares of Zai Lab in a research note on Friday, January 12th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $64.22.

Zai Lab Company Profile

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.