Zai Lab Limited Forecasted to Post FY2024 Earnings of ($3.50) Per Share (NASDAQ:ZLAB)

Zai Lab Limited (NASDAQ:ZLAB) – Research analysts at Cantor Fitzgerald increased their FY2024 earnings estimates for shares of Zai Lab in a report released on Tuesday, April 23rd. Cantor Fitzgerald analyst L. Chen now anticipates that the company will post earnings per share of ($3.50) for the year, up from their previous forecast of ($3.53). Cantor Fitzgerald has a “Overweight” rating on the stock. The consensus estimate for Zai Lab’s current full-year earnings is ($3.28) per share.

Zai Lab (NASDAQ:ZLAB) last released its earnings results on Tuesday, February 27th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.11). Zai Lab had a negative net margin of 125.46% and a negative return on equity of 37.07%. The firm had revenue of $65.83 million during the quarter, compared to the consensus estimate of $70.41 million.

Separately, Citigroup reduced their price target on shares of Zai Lab from $123.00 to $66.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Zai Lab presently has an average rating of “Buy” and an average price target of $64.22.

Zai Lab Price Performance

ZLAB stock opened at $15.66 on Thursday. Zai Lab has a 12 month low of $13.48 and a 12 month high of $39.50. The company’s 50-day moving average price is $17.63 and its two-hundred day moving average price is $22.68.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. raised its holdings in Zai Lab by 68.4% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,371 shares of the company’s stock worth $33,000 after purchasing an additional 557 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Zai Lab by 58.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,896 shares of the company’s stock worth $46,000 after purchasing an additional 700 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Zai Lab by 1,923.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,550 shares of the company’s stock valued at $70,000 after acquiring an additional 2,424 shares in the last quarter. Sectoral Asset Management Inc. increased its stake in shares of Zai Lab by 33.3% in the 4th quarter. Sectoral Asset Management Inc. now owns 4,000 shares of the company’s stock valued at $109,000 after acquiring an additional 1,000 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Zai Lab in the 4th quarter valued at $116,000. Institutional investors own 41.65% of the company’s stock.

Insider Buying and Selling

In related news, insider Joshua L. Smiley sold 1,988 shares of Zai Lab stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $15.67, for a total transaction of $31,151.96. Following the sale, the insider now directly owns 28,684 shares in the company, valued at approximately $449,478.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Joshua L. Smiley sold 1,988 shares of Zai Lab stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $15.67, for a total transaction of $31,151.96. Following the sale, the insider now directly owns 28,684 shares in the company, valued at approximately $449,478.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ying Du sold 5,787 shares of Zai Lab stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $16.15, for a total transaction of $93,460.05. Following the sale, the chief executive officer now owns 1,107,972 shares in the company, valued at $17,893,747.80. The disclosure for this sale can be found here. Insiders have sold a total of 12,568 shares of company stock worth $208,508 in the last ninety days. Company insiders own 5.23% of the company’s stock.

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.