HUTCHMED (NASDAQ:HCM) Stock Lifted to “Strong-Buy” by Wall Street Zen

Wall Street Zen upgraded shares of HUTCHMED (NASDAQ:HCM) from a buy rating to a strong-buy rating in a report published on Saturday,Wall Street Zen reports.

HCM has been the subject of a number of other research reports. Weiss Ratings raised shares of HUTCHMED from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, October 20th. Daiwa Securities Group upgraded shares of HUTCHMED from a “hold” rating to a “buy” rating in a research note on Thursday, September 3rd. HSBC raised shares of HUTCHMED from a “hold” rating to a “buy” rating in a report on Tuesday, September 8th. Finally, The Goldman Sachs Group lowered their price objective on shares of HUTCHMED from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $14.87.

HUTCHMED Price Performance

NASDAQ:HCM traded up $0.05 during trading hours on Friday, hitting $14.90. The company’s stock had a trading volume of 22,858 shares, compared to its average volume of 47,803. The stock has a fifty day simple moving average of $14.06 and a 200-day simple moving average of $13.20. 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 twelve month low of $9.77 and a twelve month high of $16.33.

Institutional Investors Weigh In On HUTCHMED

Institutional investors have recently added to or reduced their stakes in the business. XY Capital Ltd increased its position in HUTCHMED by 115.2% in the 2nd quarter. XY Capital Ltd now owns 104,130 shares of the company’s stock valued at $1,120,000 after acquiring an additional 55,736 shares during the period. Crossmark Global Holdings Inc. lifted its holdings in shares of HUTCHMED by 25.0% during the third quarter. Crossmark Global Holdings Inc. now owns 106,185 shares of the company’s stock worth $1,553,000 after purchasing an additional 21,270 shares during the period. Amundi lifted its holdings in shares of 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 period. Finally, Janney Montgomery Scott LLC acquired a new position in shares of HUTCHMED during the first quarter worth $365,000. 8.82% of the stock is owned by institutional investors.

About HUTCHMED

HUTCHMED is a biopharmaceutical company focused on discovering, developing and commercializing medicines, particularly targeted therapies for cancer. Founded in 2000 as Hutchison China MediTech, the company adopted the HUTCHMED name in 2021. Its oncology medicines include fruquintinib, marketed in China as Elunate and in the United States and other markets as Fruzaqla through a partner; surufatinib, marketed in China as Sulanda; and savolitinib, marketed in China as Orpathys. The company also maintains a pipeline of investigational medicines for cancer and immunological diseases.