Zai Lab (NASDAQ:ZLAB) Releases Q1 Earnings Guidance

Zai Lab (NASDAQ:ZLABGet Rating) issued an update on its first quarter earnings guidance on Tuesday morning. The company provided EPS guidance of ($0.86) for the period, compared to the consensus EPS estimate of ($1.23). The company issued revenue guidance of $46.7 million, compared to the consensus revenue estimate of $45.72 million.

NASDAQ:ZLAB traded up $0.68 during midday trading on Tuesday, reaching $26.24. 630,013 shares of the stock traded hands, compared to its average volume of 776,744. The company has a fifty day moving average of $40.32 and a 200 day moving average of $57.68. Zai Lab has a 12 month low of $24.80 and a 12 month high of $181.92. The stock has a market capitalization of $2.53 billion, a P/E ratio of -3.43 and a beta of 1.20.

Zai Lab (NASDAQ:ZLABGet Rating) last posted its quarterly earnings results on Tuesday, March 1st. The company reported ($2.24) EPS for the quarter, missing analysts’ consensus estimates of ($1.66) by ($0.58). Zai Lab had a negative net margin of 488.16% and a negative return on equity of 49.88%. The firm had revenue of $44.17 million for the quarter, compared to the consensus estimate of $54.78 million. As a group, analysts forecast that Zai Lab will post -4.1 EPS for the current fiscal year.

ZLAB has been the subject of a number of recent analyst reports. Macquarie initiated coverage on shares of Zai Lab in a report on Friday, January 21st. They set an outperform rating and a $64.00 price target for the company. Zacks Investment Research upgraded shares of Zai Lab from a sell rating to a hold rating in a report on Thursday, April 7th. JPMorgan Chase & Co. decreased their price objective on shares of Zai Lab from $136.00 to $112.00 and set an overweight rating for the company in a report on Monday, April 4th. Finally, SVB Leerink decreased their price objective on shares of Zai Lab from $102.00 to $101.00 and set an outperform rating for the company in a report on Thursday, April 21st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Zai Lab has an average rating of Buy and an average price target of $127.00.

Institutional investors have recently modified their holdings of the stock. Kingsview Wealth Management LLC increased its stake in shares of Zai Lab by 36.5% in the 4th quarter. Kingsview Wealth Management LLC now owns 6,833 shares of the company’s stock worth $429,000 after acquiring an additional 1,826 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of Zai Lab by 209.4% in the 4th quarter. California State Teachers Retirement System now owns 17,049 shares of the company’s stock worth $1,072,000 after acquiring an additional 11,538 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of Zai Lab by 132.6% in the 4th quarter. Parametric Portfolio Associates LLC now owns 77,126 shares of the company’s stock worth $4,847,000 after acquiring an additional 43,962 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Zai Lab by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 79,105 shares of the company’s stock worth $4,972,000 after acquiring an additional 2,565 shares in the last quarter. Finally, Millennium Management LLC increased its stake in shares of Zai Lab by 46.8% in the 4th quarter. Millennium Management LLC now owns 153,412 shares of the company’s stock worth $9,642,000 after acquiring an additional 48,941 shares in the last quarter. Institutional investors own 72.65% of the company’s stock.

About Zai Lab (Get Rating)

Zai Lab Limited develops and commercializes therapies to treat oncology, autoimmune disorders, infectious diseases, and neuroscience primarily in Mainland China and Hong Kong. The company's commercial products include Zejula, a once-daily small-molecule poly polymerase 1/2 inhibitor; Optune, a device that delivers tumor treating fields; NUZYRA for acute bacterial skin and skin structure infections, and community acquired bacterial pneumonia; and Qinlock to treat gastrointestinal stromal tumors.

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Earnings History and Estimates for Zai Lab (NASDAQ:ZLAB)

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