HUTCHMED (NASDAQ:HCM) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of HUTCHMED (NASDAQ:HCM) from a hold rating to a buy rating in a report issued on Saturday morning.

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

HUTCHMED Trading Up 5.7%

Shares of HUTCHMED stock opened at $12.51 on Friday. The company’s fifty day simple moving average is $11.02 and its 200-day simple moving average is $13.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.50 and a current ratio of 5.64. HUTCHMED has a 1 year low of $9.77 and a 1 year high of $18.30.

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

Hedge Funds Weigh In On HUTCHMED

A number of hedge funds and other institutional investors have recently made changes to their positions in HCM. Ameriprise Financial Inc. boosted its position in shares of HUTCHMED by 4.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 15,519 shares of the company’s stock valued at $234,000 after acquiring an additional 698 shares in the last quarter. Bank of America Corp DE raised its position in HUTCHMED by 17.3% in the second quarter. Bank of America Corp DE now owns 20,582 shares of the company’s stock worth $310,000 after purchasing an additional 3,035 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in HUTCHMED by 34.2% during the third quarter. Dimensional Fund Advisors LP now owns 21,721 shares of the company’s stock worth $342,000 after purchasing an additional 5,538 shares during the period. Janney Montgomery Scott LLC bought a new position in HUTCHMED during the first quarter worth about $365,000. Finally, BNP Paribas Financial Markets boosted its holdings in HUTCHMED by 19.7% during the second quarter. BNP Paribas Financial Markets now owns 25,046 shares of the company’s stock valued at $377,000 after purchasing an additional 4,116 shares in the last quarter. 8.82% of the stock is owned by institutional investors.

HUTCHMED Company Profile

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.