Zai Lab (ZLAB – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst David Li from Bank of America Securities remains neutral on the stock and has a $37.00 price target.
David Li has given his Buy rating due to a combination of factors that signal positive growth prospects for Zai Lab. First, the company’s remarkable performance in drug sales contributed significantly to this outlook. Specifically, the drugs niraparib, ripretinib, omadacycline, and efgartigimod alfa recorded strong sales, with a notable year-on-year increase ranging from 16.8% to 1041.8%. Furthermore, there was a month-on-month sales change recorded, which was particularly significant for niraparib at 27.2%.
Another important factor was the competitive landscape of PARP inhibitors in China. Zai Lab’s niraparib secured 44.3% of the overall market revenue, indicating a strong position in the market. Lastly, considering these positive indicators and the in-line sales performance, David Li maintained his Buy rating and price objective (PO) of US$37.0, reflecting his confidence in Zai Lab’s potential for growth and profitability.
In another report released on November 8, Leerink Partners also reiterated a Buy rating on the stock with a $74.00 price target.
See today’s best-performing stocks on TipRanks >>
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
Zai Lab (ZLAB) Company Description:
Zai Lab Ltd. is a biopharmaceutical company, which engages in the licensing, developing, and commercializing proprietary therapeutics that address areas of unmet medical need. Its product pipelines include ZL-2306, ZL-2401, FPA144, ETX2514, and ZL-2301. The company was founded by Samantha Ying Du and Marietta Wu in 2014 and is headquartered in Shanghai, China.
Read More on ZLAB:
- Zai Lab price target lowered to $123 from $128 at Citi
- Zai Lab reports Q3 EPS (71c), consensus (95c)
- Zai Lab Announces Third Quarter 2023 Financial Results and Recent Corporate Updates
- Zai Lab to Announce Third Quarter 2023 Financial Results and Recent Corporate Updates on November 7, 2023
- Zai Lab price target lowered to $64 from $67 at JPMorgan
