FY2018 EPS Estimates for Zai Lab Ltd Reduced by Leerink Swann (ZLAB)
Zai Lab Ltd (NASDAQ:ZLAB) – Leerink Swann lowered their FY2018 EPS estimates for shares of Zai Lab in a research note issued on Thursday, September 13th. Leerink Swann analyst J. Chang now expects that the company will earn ($1.83) per share for the year, down from their prior estimate of ($1.55). Leerink Swann has a “Outperform” rating and a $43.00 price objective on the stock. Leerink Swann also issued estimates for Zai Lab’s FY2019 earnings at ($1.48) EPS and FY2020 earnings at ($0.77) EPS.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research cut Zai Lab from a “hold” rating to a “sell” rating in a report on Wednesday, August 15th. BidaskClub cut Zai Lab from a “hold” rating to a “sell” rating in a report on Friday, September 7th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Zai Lab has an average rating of “Hold” and an average target price of $34.00.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in Zai Lab by 4,472.7% in the first quarter. BlackRock Inc. now owns 20,760 shares of the company’s stock worth $443,000 after acquiring an additional 20,306 shares in the last quarter. Millennium Management LLC grew its position in 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 in the last quarter. Bamco Inc. NY purchased a new position in Zai Lab in the first quarter worth about $1,452,000. Segantii Capital Management Ltd grew its position in Zai Lab by 38.8% in the second quarter. Segantii Capital Management Ltd now owns 534,445 shares of the company’s stock worth $12,426,000 after acquiring an additional 149,445 shares in the last quarter. Finally, FMR LLC grew its position in Zai Lab by 3.9% in the second quarter. FMR LLC now owns 5,055,427 shares of the company’s stock worth $117,539,000 after acquiring an additional 188,745 shares in the last quarter. Institutional investors own 24.38% of the company’s stock.
About Zai Lab
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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