Analyst David Li from Bank of America Securities maintained a Hold rating on Zai Lab (ZLAB – Research Report) and keeping the price target at $36.10.
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David Li’s rating is based on several key considerations. Zai Lab’s stock is rated as Hold due to the company’s ongoing efforts to commercialize multiple products, which presents potential for future growth. However, this potential is tempered by the increasing competition in the market for its core products, particularly in the PARP inhibitor segment.
Additionally, while Zai Lab has shown promising drug sales figures, there has been a noticeable month-over-month decline in sales for several of its key drugs. This decline, coupled with the competitive pressures, suggests a cautious approach, justifying the Hold rating. The price objective of $36.10 reflects a modest upside from the current price, indicating a balanced risk-reward scenario.
According to TipRanks, Li is ranked #7289 out of 9371 analysts.
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