Cantor Fitzgerald Increases Earnings Estimates for Zai Lab

Zai Lab Limited (NASDAQ:ZLAB) – Stock analysts at Cantor Fitzgerald raised their FY2024 earnings per share estimates for shares of Zai Lab in a research report issued on Wednesday, November 13th. Cantor Fitzgerald analyst L. Chen now forecasts that the company will earn ($2.54) per share for the year, up from their prior estimate of ($3.16). Cantor Fitzgerald currently has a “Overweight” rating on the stock. The consensus estimate for Zai Lab’s current full-year earnings is ($2.73) per share.

Separately, JPMorgan Chase & Co. lifted their target price on shares of 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 Up 1.5 %

Shares of NASDAQ ZLAB opened at $27.06 on Monday. The business has a fifty day simple moving average of $26.06 and a 200-day simple moving average of $21.10. The company has a market cap of $2.70 billion, a price-to-earnings ratio of -9.77 and a beta of 1.04. Zai Lab has a 12 month low of $13.48 and a 12 month high of $36.60.

Institutional Investors Weigh In On Zai Lab

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its stake in Zai Lab by 51.2% in the first quarter. BNP Paribas Financial Markets now owns 2,671 shares of the company’s stock valued at $43,000 after purchasing an additional 904 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Zai Lab by 51.1% in the first quarter. Russell Investments Group Ltd. now owns 293,783 shares of the company’s stock worth $4,706,000 after buying an additional 99,355 shares during the last quarter. Capital International Inc. CA raised its stake in shares of Zai Lab by 6.7% in the 1st quarter. Capital International Inc. CA now owns 92,108 shares of the company’s stock valued at $1,476,000 after acquiring an additional 5,815 shares in the last quarter. Capital World Investors grew its holdings in Zai Lab by 8.9% during the first quarter. Capital World Investors now owns 5,684,180 shares of the company’s stock valued at $91,061,000 after purchasing an additional 465,337 shares during the last quarter. Finally, Bamco Inc. NY lifted its stake in shares of Zai Lab by 7.3% in the first quarter. Bamco Inc. NY now owns 1,599,865 shares of the company’s stock worth $25,630,000 after buying an additional 108,991 shares during the last quarter. Hedge funds and other institutional investors own 41.65% 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.