Zai Lab (NASDAQ:ZLAB) Reaches New 1-Year High at $59.98

Zai Lab Ltd (NASDAQ:ZLAB)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $59.98 and last traded at $59.77, with a volume of 5172 shares changing hands. The stock had previously closed at $59.69.

Several research analysts have commented on ZLAB shares. Zacks Investment Research raised shares of Zai Lab from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a report on Saturday, February 8th. BidaskClub raised shares of Zai Lab from a “buy” rating to a “strong-buy” rating in a report on Monday, January 20th. Finally, Citigroup lifted their price objective on shares of Zai Lab from $65.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, December 30th. One investment analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $54.11.

The company has a market capitalization of $3.60 billion, a P/E ratio of -22.93 and a beta of 1.34. The business’s fifty day moving average price is $49.19 and its 200-day moving average price is $38.88.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its holdings in shares of Zai Lab by 608.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,280 shares of the company’s stock worth $95,000 after acquiring an additional 1,958 shares during the last quarter. Bank of America Corp DE lifted its stake in Zai Lab by 19.9% in the fourth quarter. Bank of America Corp DE now owns 2,666 shares of the company’s stock worth $110,000 after purchasing an additional 442 shares during the last quarter. Barclays PLC lifted its stake in Zai Lab by 496.6% in the third quarter. Barclays PLC now owns 4,051 shares of the company’s stock worth $131,000 after purchasing an additional 3,372 shares during the last quarter. Hershey Trust Co. bought a new stake in Zai Lab in the third quarter worth $148,000. Finally, QP Wealth Management LLC bought a new stake in Zai Lab in the fourth quarter worth $273,000. 63.76% of the stock is owned by institutional investors.

Zai Lab Company Profile (NASDAQ:ZLAB)

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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