HUTCHMED (NASDAQ:HCM) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of HUTCHMED (NASDAQ:HCM) from a buy rating to a hold rating in a report released on Sunday morning.

Several other analysts have also recently issued reports on HCM. HSBC cut shares of HUTCHMED from a “buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Bank of America increased their price objective on shares of HUTCHMED from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, July 22nd. Finally, Zacks Research raised shares of HUTCHMED to a “strong-buy” rating in a research report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, HUTCHMED currently has a consensus rating of “Buy” and an average price target of $28.00.

HUTCHMED Price Performance

Shares of NASDAQ HCM opened at $16.05 on Friday. The firm’s 50-day moving average price is $16.41 and its 200-day moving average price is $15.39. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.51 and a current ratio of 4.65. HUTCHMED has a 12-month low of $11.51 and a 12-month high of $21.50.

Hedge Funds Weigh In On HUTCHMED

Hedge funds and other institutional investors have recently modified their holdings of the business. Crossmark Global Holdings Inc. boosted its stake in shares of HUTCHMED by 31.4% during the first quarter. Crossmark Global Holdings Inc. now owns 24,420 shares of the company’s stock valued at $367,000 after purchasing an additional 5,829 shares in the last quarter. Bank of America Corp DE boosted its stake in HUTCHMED by 40.4% in the fourth quarter. Bank of America Corp DE now owns 22,723 shares of the company’s stock valued at $327,000 after acquiring an additional 6,540 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in HUTCHMED by 49.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 2,710 shares of the company’s stock valued at $39,000 after acquiring an additional 899 shares in the last quarter. Barclays PLC boosted its stake in HUTCHMED by 1,483.6% in the fourth quarter. Barclays PLC now owns 2,407 shares of the company’s stock valued at $35,000 after acquiring an additional 2,255 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake in HUTCHMED by 54.7% in the fourth quarter. Jane Street Group LLC now owns 97,470 shares of the company’s stock valued at $1,405,000 after acquiring an additional 34,473 shares in the last quarter. 8.82% of the stock is currently owned by institutional investors.

HUTCHMED Company Profile

HUTCHMED (China) Ltd. is a holding company, which engages in the research and development, manufacture, and sale of pharmaceuticals and health-oriented consumer products. It operates through the Oncology/Immunology and Other Ventures segments. The Oncology/Immunology segment includes the discovery, development, and commercialization of targeted therapies and immunotherapies for the treatment of cancer and immunological diseases.