J.P. Morgan analyst Anupam Rama has maintained their bullish stance on ZLAB stock, giving a Buy rating today.
Anupam Rama has given his Buy rating due to a combination of factors including the robust long-term potential of Zai Lab’s commercial portfolio and the expected contribution from near- and intermediate-term product launches. Despite a miss in the total 4Q23 revenues, Rama emphasizes the company’s ability to maintain an in-line performance for key products like Zejula and Nuzyra. Additionally, the outperformance of Vyvgart, which exceeded consensus estimates, further supports the optimistic outlook.
The significant upward guidance for Vyvgart’s 2024 revenue projections, which notably exceeds prior consensus, is a key driver behind the Buy rating. These projections suggest a stronger than anticipated growth trajectory for the product. Rama’s conviction in Zai Lab’s stock is further underpinned by the diversity and growth potential of the company’s product line, indicating a promising future for both the company and its shareholders.
According to TipRanks, Rama is a 5-star analyst with an average return of 10.3% and a 51.24% success rate. Rama covers the Healthcare sector, focusing on stocks such as Neurocrine, Sarepta Therapeutics, and Ultragenyx Pharmaceutical.
In another report released today, Bank of America Securities also reiterated a Buy rating on the stock with a $31.00 price target.
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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.
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