Leerink Partners analyst Jonathan Chang has reiterated their bullish stance on ZLAB stock, giving a Buy rating on April 21.
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Jonathan Chang has given his Buy rating due to a combination of factors including Zai Lab’s robust pipeline of both commercial and development-stage assets. Despite a slight reduction in revenue projections following the KarXT/Cobenfy ARISE trial’s failure, the company’s extensive portfolio and strategic partnerships, such as those with AMGN for bemarituzumab, continue to support a positive outlook.
Moreover, the upcoming clinical updates, particularly the Phase III results for bemarituzumab and the Phase I data for ZL-1310, are anticipated to provide further insights into the company’s growth potential. The management’s seasoned expertise in the biopharma sector, especially within China, also contributes to the confidence in Zai Lab’s future performance. Consequently, the price target has been adjusted to $73, reflecting these considerations.
Chang covers the Healthcare sector, focusing on stocks such as Zai Lab, Genmab, and Nanobiotix. According to TipRanks, Chang has an average return of -11.6% and a 29.86% success rate on recommended stocks.
In another report released on April 21, Scotiabank also maintained a Buy rating on the stock with a $55.00 price target.