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Zai Lab Limited’s (ZLAB) Outlook: Recollecting The Past For Future Insights

Zai Lab Limited (NASDAQ:ZLAB) price on Friday, March 17, fall -1.23% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $33.85.

A look at the stock’s price movement, the close in the last trading session was $34.27, moving within a range at $32.035 and $35.39. The beta value (5-Year monthly) was 1.21. Turning to its 52-week performance, $53.95 and $20.98 were the 52-week high and 52-week low respectively. Overall, ZLAB moved -8.91% over the past month.

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Zai Lab Limited’s market cap currently stands at around $3.70 billion, with investors looking forward to this quarter’s earnings report slated for May 08, 2023 – May 14, 2023. Analysts project the company’s earnings per share (EPS) to be -$1.24, which has seen fiscal year 2022 EPS growth forecast to increase to -$4.96 and about -$4.22 for fiscal year 2023. Per the data, EPS growth is expected to be 34.60% for 2023 and 14.90% for the next financial year.

Analysts have a consensus estimate of $54.98 million for the company’s revenue for the quarter, with a low and high estimate of $49.9 million and $57.5 million respectively. The average forecast suggests up to a 27.60% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2022 to grow to $212.8 million, representing a 47.50% jump on that reported in the last financial year.

Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that ZLAB is a 50% Sell. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.

15 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 13 recommend ZLAB as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.

ZLAB’s current price about -6.20% and -14.92% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 43.19, while 7-day volatility ratio is 7.59% and 6.33% in the 30-day chart. Further, Zai Lab Limited (ZLAB) has a beta value of 1.19, and an average true range (ATR) of 2.58.

In the market, a comparison of Zai Lab Limited (ZLAB) and its peers suggest the former has performed considerably weaker. Data shows ZLAB’s intraday price has changed -1.23% in last session and -5.47% over the past year. Comparatively, Pieris Pharmaceuticals Inc. (PIRS) has moved -12.95% on the day and only -60.20% in the past 12 months. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are down -1.10% and -1.19% respectively in the last trading.

If we refocus on Zai Lab Limited (NASDAQ:ZLAB), historical trading data shows that trading volumes averaged 0.83 million over the past 10 days and 755.58K over the past 3 months. The company’s latest data on shares outstanding shows there are 96.00 million shares.

The 1.30% of Zai Lab Limited’s shares are in the hands of company insiders while institutional holders own 71.20% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 2.89 million on Jan 30, 2023, giving us a short ratio of 2.62. The data shows that as of Jan 30, 2023 short interest in Zai Lab Limited (ZLAB) stood at 2.95% of shares outstanding, with shares short rising to 2.69 million registered in Dec 29, 2022. Current price change has pushed the stock 10.26% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the ZLAB stock continues to rise going into the next quarter.

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