Zai Lab Limited ADR (NASDAQ:ZLAB) price on current trading day, fall -0.11% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $27.97.
A look at the stock’s price movement, the close in the last trading session was $28.00, moving within a range at $27.54 and $28.6225. Turning to its 52-week performance, $36.60 and $13.48 were the 52-week high and 52-week low respectively. Overall, ZLAB moved -7.69% over the past month.
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Zai Lab Limited ADR’s market cap currently stands at around $3.02 billion, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 108.86M for the company’s revenue for the quarter, with a low and high estimate of 104.5M and 114.47M respectively. The average forecast suggests up to a 65.36% 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 to grow to 393.19M, representing a 47.42% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that ZLAB is a 50% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
2 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 0 analyst(s) rate the stock as a Hold, 2 recommend ZLAB as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 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 -0.16% and 0.23% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 49.39, while 7-day volatility ratio is 4.61% and 5.48% in the 30-day chart. Further, Zai Lab Limited ADR (ZLAB) has a beta value of 0.99, and an average true range (ATR) of 1.57. Analysts have given the company’s stock an average 52-week price target of $50, forecast between a low of $50 and high of $50. Looking at the price targets, the low is -78.76% off current price level while to achieve the yearly target high, price needs to move -78.76%. Nonetheless, investors will most likely welcome a -78.76% jump to $50 which is the analysts’ median price.
If we refocus on Zai Lab Limited ADR (NASDAQ:ZLAB), historical trading data shows that trading volumes averaged 1.02 over the past 10 days and 962.80K over the past 3 months. The company’s latest data on shares outstanding shows there are 108.14 million shares.
The 0.24% of Zai Lab Limited ADR’s shares are in the hands of company insiders while institutional holders own 43.92% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 4.89 million on 2024-11-15, giving us a short ratio of 4.12. The data shows that as of 2024-11-15 short interest in Zai Lab Limited ADR (ZLAB) stood at 573.0 of shares outstanding, with shares short rising to 4.75 million registered in 2024-10-15. Current price change has pushed the stock 2.34% 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.
