HUTCHMED (NASDAQ:HCM) Raised to Buy at StockNews.com

HUTCHMED (NASDAQ:HCMGet Free Report) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Monday.

HCM has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft upgraded HUTCHMED from a “hold” rating to a “buy” rating and set a $22.10 target price for the company in a report on Friday, November 24th. Cantor Fitzgerald restated an “overweight” rating on shares of HUTCHMED in a research note on Friday, January 12th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $29.70.

Check Out Our Latest Analysis on HCM

HUTCHMED Trading Up 0.6 %

HCM stock traded up $0.09 during trading hours on Monday, reaching $14.96. 42,816 shares of the stock were exchanged, compared to its average volume of 89,727. The firm’s 50-day moving average is $14.70 and its 200-day moving average is $16.43. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.72 and a quick ratio of 2.60. HUTCHMED has a 12 month low of $10.68 and a 12 month high of $20.73.

Hedge Funds Weigh In On HUTCHMED

Large investors have recently modified their holdings of the business. Capital International Investors lifted its stake in HUTCHMED by 0.6% in the 1st quarter. Capital International Investors now owns 9,105,103 shares of the company’s stock valued at $173,532,000 after purchasing an additional 50,212 shares during the last quarter. Schroder Investment Management Group lifted its stake in HUTCHMED by 0.8% in the 2nd quarter. Schroder Investment Management Group now owns 4,602,671 shares of the company’s stock valued at $55,232,000 after purchasing an additional 34,307 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in HUTCHMED by 1,096.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 3,913,287 shares of the company’s stock valued at $49,464,000 after purchasing an additional 3,586,271 shares during the last quarter. BlackRock Inc. lifted its stake in HUTCHMED by 3.6% in the 1st quarter. BlackRock Inc. now owns 3,516,585 shares of the company’s stock valued at $66,534,000 after purchasing an additional 123,396 shares during the last quarter. Finally, Bellevue Group AG lifted its stake in HUTCHMED by 62.6% in the 1st quarter. Bellevue Group AG now owns 1,750,690 shares of the company’s stock valued at $33,123,000 after purchasing an additional 673,820 shares during the last quarter. 14.13% of the stock is currently owned by institutional investors and hedge funds.

HUTCHMED Company Profile

(Get Free Report)

HUTCHMED (China) Limited, together with its subsidiaries, discovers, develops, and commercializes targeted therapeutics and immunotherapies for cancer and immunological diseases in Hong Kong and internationally. The company develops Savolitinib for the treatment of non-small cell lung cancer (NSCLC), papillary renal cell carcinoma (RCC), and gastric cancer (GC); and Fruquintinib, an inhibitor for colorectal cancer (CRC), breast cancer, gastric cancer, microsatellite stable-CRC endometrial cancer (EMC), NSCLC, RCC, gastrointestinal, cervical, and solid tumors.

Further Reading

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