HUTCHMED (NASDAQ:HCM) Shares Gap Up – What’s Next?

HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM)’s share price gapped up before the market opened on Tuesday. The stock had previously closed at $14.18, but opened at $14.69. HUTCHMED shares last traded at $14.8050, with a volume of 14,904 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Daiwa Securities Group raised shares of HUTCHMED from a “hold” rating to a “buy” rating in a research report on Thursday, September 3rd. The Goldman Sachs Group decreased their target price on shares of HUTCHMED from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, July 23rd. HSBC raised shares of HUTCHMED from a “hold” rating to a “buy” rating in a research note on Tuesday, September 8th. Weiss Ratings lowered HUTCHMED from a “hold (c-)” rating to a “sell (d)” rating in a research note on Friday, July 31st. Finally, Bank of America reduced their price target on HUTCHMED from $20.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $14.87.

HUTCHMED Price Performance

The company has a quick ratio of 5.50, a current ratio of 5.64 and a debt-to-equity ratio of 0.06. The firm has a fifty day simple moving average of $13.40 and a 200 day simple moving average of $12.63.

HUTCHMED (NASDAQ:HCM) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.09). The firm had revenue of $139.14 million for the quarter, compared to the consensus estimate of $304.16 million. As a group, sell-side analysts forecast that HUTCHMED will post 0.23 EPS for the current fiscal year.

Institutional Investors Weigh In On HUTCHMED

A number of institutional investors have recently bought and sold shares of the stock. Amundi increased its position in HUTCHMED by 4.0% during the first quarter. Amundi now owns 232,246 shares of the company’s stock worth $3,474,000 after purchasing an additional 8,916 shares during the last quarter. XY Capital Ltd increased its position in HUTCHMED by 115.2% during the second quarter. XY Capital Ltd now owns 104,130 shares of the company’s stock worth $1,120,000 after purchasing an additional 55,736 shares during the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in HUTCHMED during the first quarter worth approximately $365,000. 8.82% of the stock is currently owned by hedge funds and other institutional investors.

HUTCHMED Company Profile

HUTCHMED (NASDAQ:HCM) is a biopharmaceutical company focused on discovering, developing and commercializing medicines for cancer and immunological diseases. Founded in 2000, the company has built an integrated research and development platform spanning drug discovery, clinical development, regulatory activities and commercialization.

HUTCHMED’s portfolio includes targeted therapies and other treatments for solid tumors and hematologic malignancies. Its medicines include fruquintinib, marketed in China as Elunate and in the United States as Fruzaqla, and savolitinib, marketed in China as Orpathys through a collaboration with AstraZeneca.