Zacks Investment Research upgraded shares of Zai Lab (NASDAQ:ZLAB) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.

According to Zacks, “Zai Lab Ltd is a biopharmaceutical company. It focused on medicines for cancer, autoimmune and infectious diseases primarily in China. The company’s product pipeline consists of ZL-2306, ZL-2401, ZL-2301, ZL-3101, ZL-2302 and ZL-1101 which are in clinical stage. Zai Lab Ltd is based in Pudong, China. “

Other analysts have also issued research reports about the company. JPMorgan Chase & Co. raised Zai Lab from a neutral rating to an overweight rating and set a $32.00 target price for the company in a report on Wednesday, February 14th. Leerink Swann reaffirmed an outperform rating on shares of Zai Lab in a report on Friday, March 23rd. BidaskClub raised Zai Lab from a hold rating to a buy rating in a report on Friday, May 18th. Finally, ValuEngine raised Zai Lab from a sell rating to a hold rating in a report on Wednesday, May 2nd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $37.00.

Zai Lab opened at $23.42 on Tuesday, MarketBeat reports. The firm has a market capitalization of $1.26 billion and a price-to-earnings ratio of -10.09. Zai Lab has a 12 month low of $17.85 and a 12 month high of $35.74.

Several institutional investors and hedge funds have recently modified their holdings of ZLAB. Gilder Gagnon Howe & Co. LLC grew its holdings in shares of Zai Lab by 64.9% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 917,123 shares of the company’s stock worth $19,471,000 after acquiring an additional 360,801 shares during the period. Segantii Capital Management Ltd grew its holdings in shares of Zai Lab by 68.7% in the fourth quarter. Segantii Capital Management Ltd now owns 382,769 shares of the company’s stock worth $8,126,000 after acquiring an additional 155,912 shares during the period. Hudson Bay Capital Management LP grew its holdings in shares of Zai Lab by 71.7% in the fourth quarter. Hudson Bay Capital Management LP now owns 164,574 shares of the company’s stock worth $3,494,000 after acquiring an additional 68,729 shares during the period. Bamco Inc. NY bought a new stake in shares of Zai Lab in the first quarter worth $1,452,000. Finally, Millennium Management LLC grew its holdings in shares of Zai Lab by 118.1% in the first quarter. Millennium Management LLC now owns 108,091 shares of the company’s stock worth $2,308,000 after acquiring an additional 58,536 shares during the period. 21.18% of the stock is owned by institutional investors.

Zai Lab Company Profile

Zai Lab Limited, a biopharmaceutical company, engages in discovering or licensing, developing, and commercializing proprietary therapeutics for oncology, and autoimmune and infectious disease therapies in China. Its drug candidates include ZL-2306, a poly ADP ribose polymerase 1/2 inhibitor for the treatment of ovarian, breast, and lung cancers; ZL-2401, an antibiotic for the treatment of acute bacterial skin/skin structure infections, community-acquired bacterial pneumonias, and urinary tract infections; ZL-2301 that is Phase II clinical trial for the treatment of hepatocellular carcinoma; ZL-3101, a novel steroid-sparing topical product that is in Phase II clinical trial for the treatment of eczema and psoriasis; ZL-2302 for the treatment of non-small cell lung cancer; and ZL-1101, an anti-OX40 antagonistic antibody for the treatment of graft-versus-host disease or systemic lupus erythematosus.

Get a free copy of the Zacks research report on Zai Lab (ZLAB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Zai Lab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zai Lab and related companies with MarketBeat.com's FREE daily email newsletter.