HUTCHMED (NASDAQ:HCM) Raised to “Buy” at Wall Street Zen

HUTCHMED (NASDAQ:HCM) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley set a $13.60 target price on HUTCHMED in a report on Thursday, May 28th. The Goldman Sachs Group lowered their price target on shares of HUTCHMED from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, July 23rd. Bank of America cut their price target on shares of HUTCHMED from $20.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Finally, Weiss Ratings cut shares of HUTCHMED from a “hold (c-)” rating to a “sell (d)” rating in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $14.87.

HUTCHMED Price Performance

Shares of HCM stock opened at $12.51 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.64 and a quick ratio of 5.50. The stock has a 50 day simple moving average of $11.02 and a 200-day simple moving average of $13.07. HUTCHMED has a 12-month low of $9.77 and a 12-month high of $18.30.

HUTCHMED (NASDAQ:HCM) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.09). The company had revenue of $139.14 million during the quarter, compared to analysts’ expectations of $304.16 million. Equities research analysts expect that HUTCHMED will post 0.23 earnings per share for the current year.

Hedge Funds Weigh In On HUTCHMED

Several hedge funds have recently bought and sold shares of the company. Amundi raised its holdings 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. Janney Montgomery Scott LLC purchased a new position in shares of HUTCHMED in the first quarter valued at $365,000. State Street Corp increased its position in shares of HUTCHMED by 1.2% in the fourth quarter. State Street Corp now owns 321,305 shares of the company’s stock valued at $4,283,000 after buying an additional 3,801 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of HUTCHMED by 3.0% during the 4th quarter. Renaissance Technologies LLC now owns 134,900 shares of the company’s stock worth $1,798,000 after buying an additional 3,900 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of HUTCHMED by 157.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 55,969 shares of the company’s stock worth $746,000 after buying an additional 34,248 shares during the last quarter. 8.82% of the stock is owned by hedge funds and other institutional investors.

About HUTCHMED

HUTCHMED (NASDAQ: HCM) is a fully integrated biopharmaceutical company focused on discovering, developing, manufacturing and commercializing targeted therapies and immunotherapies for the treatment of cancer and other diseases. The company leverages in-house capabilities in small-molecule chemistry, biologics engineering and translational medicine to advance candidates through all stages of development. HUTCHMED’s integrated model encompasses early discovery research, clinical development, regulatory filings and commercial launches, enabling seamless progression from laboratory to market.

HUTCHMED’s commercial portfolio includes several in-market oncology therapies approved in China, including fruquintinib for metastatic colorectal cancer, surufatinib for neuroendocrine tumors and savolitinib for non-small cell lung cancer.