Zai Lab Limited (NASDAQ:ZLAB) is one of the 12 Stocks that Will Bounce Back According to Wall Street Analysts. On January 6, UBS initiated coverage on Zai Lab Limited (NASDAQ:ZLAB), giving the stock a Buy rating and setting the price target at $35.
The research firm noted that the company is moving beyond its previous focus on China to become a global innovation leader. UBS sees Zai Lab Limited (NASDAQ:ZLAB) as undervalued and pointed out that the market is not fully recognizing the value of its global pipeline, which improves its strategic positioning, diversifies revenue streams, and creates potential long-term value for shareholders.
The firm also noted that this pipeline is shifting towards high-value, innovative treatments aimed at significant unmet needs. According to UBS, this could significantly shape Zai Lab Limited’s (NASDAQ:ZLAB) growth over the next decade.
In other news, on January 6, Zai Lab Limited (NASDAQ:ZLAB) reported that the National Medical Products Administration (NMPA) in China has approved the supplemental New Drug Application (sNDA) for AUGTYRO (repotrectinib). The drug is approved for adult patients with solid tumors that carry a neurotrophic tyrosine receptor kinase (NTRK) gene fusion.
Zai Lab Limited (NASDAQ:ZLAB) is a commercial-stage biopharmaceutical company based in China and the United States. It is focused on discovering, developing, and commercializing therapies that address medical conditions with significant unmet needs in oncology, immunology, neuroscience, and infectious disease.
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Disclosure: None. This article is originally published at Insider Monkey.
