HUTCHMED (NASDAQ:HCM) Rating Increased to Hold at Zacks Investment Research

HUTCHMED (NASDAQ:HCM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “Hutchison China MediTech Limited researches, develops, manufactures and sells pharmaceuticals and health-related consumer products. The Company offers drugs for oncology and autoimmune diseases treatment. Hutchison China MediTech Limited is based in Hong Kong. “

Several other analysts have also recently commented on the company. Cantor Fitzgerald increased their target price on HUTCHMED from $40.00 to $45.00 and gave the stock an “overweight” rating in a report on Tuesday, July 13th. Jefferies Financial Group started coverage on HUTCHMED in a report on Tuesday, August 3rd. They set a “buy” rating and a $52.00 target price on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, HUTCHMED currently has an average rating of “Buy” and a consensus target price of $44.25.

NASDAQ:HCM traded down $0.90 during trading hours on Tuesday, reaching $39.14. The company had a trading volume of 120,445 shares, compared to its average volume of 306,043. The stock has a 50-day moving average of $39.88 and a two-hundred day moving average of $32.91. HUTCHMED has a one year low of $23.67 and a one year high of $43.94. The firm has a market capitalization of $6.76 billion, a PE ratio of -43.49 and a beta of 1.08. The company has a quick ratio of 4.30, a current ratio of 4.41 and a debt-to-equity ratio of 0.05.

Large investors have recently added to or reduced their stakes in the business. Tiger Pacific Capital LP bought a new stake in shares of HUTCHMED in the second quarter worth about $1,081,000. Baillie Gifford & Co. increased its holdings in shares of HUTCHMED by 13.6% in the second quarter. Baillie Gifford & Co. now owns 367,258 shares of the company’s stock worth $14,422,000 after acquiring an additional 44,105 shares in the last quarter. Schroder Investment Management Group increased its holdings in shares of HUTCHMED by 2.5% in the first quarter. Schroder Investment Management Group now owns 4,015,688 shares of the company’s stock worth $113,443,000 after acquiring an additional 99,643 shares in the last quarter. Capital International Investors increased its holdings in shares of HUTCHMED by 24.7% in the first quarter. Capital International Investors now owns 5,700,564 shares of the company’s stock worth $160,832,000 after acquiring an additional 1,127,862 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of HUTCHMED by 15.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,173 shares of the company’s stock worth $4,017,000 after acquiring an additional 19,138 shares in the last quarter. 26.60% of the stock is currently owned by hedge funds and other institutional investors.

About HUTCHMED

HUTCHMED (China) Limited discovers, develops, and commercializes targeted therapeutics and immunotherapies for cancer and immunological diseases worldwide. It operates in two segments, Oncology/Immunology and Other Ventures. It manufactures, distributes, markets, and sells prescription and over-the-counter pharmaceutical, and consumer health products.

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