Leerink Partnrs Increases Earnings Estimates for Zai Lab

Zai Lab Limited (NASDAQ:ZLAB) – Stock analysts at Leerink Partnrs raised their FY2024 earnings per share estimates for Zai Lab in a research report issued to clients and investors on Tuesday, November 12th. Leerink Partnrs analyst J. Chang now anticipates that the company will post earnings per share of ($2.55) for the year, up from their previous estimate of ($3.13). The consensus estimate for Zai Lab’s current full-year earnings is ($2.97) per share. Leerink Partnrs also issued estimates for Zai Lab’s Q4 2024 earnings at ($0.75) EPS and FY2025 earnings at ($1.45) EPS.

A number of other equities research analysts have also weighed in on ZLAB. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a research report on Friday, October 25th. JPMorgan Chase & Co. boosted their price target on Zai Lab from $38.00 to $44.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st.

Zai Lab Stock Performance

Shares of Zai Lab stock opened at $27.06 on Friday. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of -9.77 and a beta of 1.04. The stock has a 50 day moving average price of $26.06 and a 200-day moving average price of $21.06. Zai Lab has a one year low of $13.48 and a one year high of $36.60.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ZLAB. BNP Paribas Financial Markets boosted its position in shares of Zai Lab by 51.2% during the first quarter. BNP Paribas Financial Markets now owns 2,671 shares of the company’s stock worth $43,000 after buying an additional 904 shares during the period. Headlands Technologies LLC purchased a new position in shares of Zai Lab during the first quarter worth $64,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Zai Lab during the third quarter worth $225,000. China Universal Asset Management Co. Ltd. boosted its position in shares of Zai Lab by 58.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,559 shares of the company’s stock worth $231,000 after buying an additional 3,514 shares during the period. Finally, Daiwa Securities Group Inc. boosted its position in shares of Zai Lab by 4,851.8% during the third quarter. Daiwa Securities Group Inc. now owns 9,557 shares of the company’s stock worth $231,000 after buying an additional 9,364 shares during the period. 41.65% of the stock is currently owned by hedge funds and other institutional investors.

About Zai Lab

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.