5 Most Promising Biotech Stocks to Buy According to Analysts

2. Zai Lab Limited (NASDAQ:ZLAB)

Upside Potential as of December 13: 161.20%

Number of Hedge Fund Holders: 18

Shanghai, China-based Zai Lab Limited (NASDAQ:ZLAB) is a commercial-stage, global biopharmaceutical company focused on medicines for oncology, autoimmune disorders, infectious diseases, and neurological disorders.

The product portfolio of Zai Lab Limited (NASDAQ:ZLAB) comprises of five commercialized products, including Zejula® for ovarian cancer, Optune®, Qinlock®, NUZYRA®, and VYVGART®. In addition, its product pipeline includes potentially global best-in-class and/or first-in-class therapies.

On November 7, Zai Lab Limited (NASDAQ:ZLAB) released its financial results for Q3 2023. Its revenue, at $69 million, exceeded consensus estimates by $2.6 million, while normalized EPS, at -$0.71, surpassed estimates by $0.32.

Following the earnings release, Citi lowered the price target on Zai Lab Limited (NASDAQ:ZLAB) shares to $123 from $128 and maintained a ‘Buy’ rating on the shares. The analyst expects the commercial uptake of VYVGART to be the key focus for the stock in the near term.