10 Best Performing Mid Cap Stocks to Buy According to Analysts

2. Zai Lab Ltd. (NASDAQ:ZLAB)

Year-to-Date Performance as of February 24: 25.75%

Upside Potential as of February 24: 52.30%

Number of Hedge Fund Holders: 26

Zai Lab Ltd. (NASDAQ:ZLAB) develops and commercializes innovative therapies across oncology, autoimmune disorders, infectious diseases, and neuroscience. With a portfolio of approved products and a pipeline of novel candidates, it uses strategic collaborations to bring transformative treatments to patients in China and globally.

Its primary growth engine is VYVGART, which is a treatment for generalized myasthenia gravis (gMG) in China. The drug’s commercial success is evident in its Q3 2024 net product revenue of $27.3 million, which is an increase from $4.9 million year-over-year. This performance positions VYVGART to exceed $80 million in sales for the full year 2024. To date, ~10,000 patients have been treated, and nearly 2,000 healthcare professionals have prescribed it, which highlights its rapid adoption. The company has secured listings at all targeted top-priority hospitals, covering ~65% of the gMG market potential.

The company reported a 47% year-over-year increase in total net product revenue for the third quarter, reaching $101.8 million, driven by VYVGART. This revenue growth, coupled with ongoing efficiency initiatives, has led to a 40% reduction in net loss compared to the previous year. With continued growth projections, Zai Lab Ltd. (NASDAQ:ZLAB) is on track to achieve profitability by the end of 2025.