HUTCHMED (NASDAQ:HCM) Trading Up 8.1% – Still a Buy?

HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM) shot up 8.1% during trading on Wednesday . The stock traded as high as $15.00 and last traded at $14.87. 62,476 shares were traded during mid-day trading, a decline of 2% from the average session volume of 63,692 shares. The stock had previously closed at $13.75.

Analyst Upgrades and Downgrades

HCM has been the topic of a number of recent analyst reports. Zacks Research downgraded shares of HUTCHMED from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 9th. Wall Street Zen raised shares of HUTCHMED from a “hold” rating to a “buy” rating in a research report on Sunday, November 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of HUTCHMED in a research note on Wednesday, October 8th. Finally, Morgan Stanley downgraded HUTCHMED from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $18.00 to $13.75 in a research note on Monday, September 22nd. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, HUTCHMED currently has a consensus rating of “Hold” and an average price target of $20.88.

HUTCHMED Price Performance

The company has a current ratio of 4.65, a quick ratio of 4.51 and a debt-to-equity ratio of 0.05. The firm’s 50-day moving average is $14.16 and its 200-day moving average is $15.45.

Institutional Investors Weigh In On HUTCHMED

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Ameriprise Financial Inc. lifted its position in HUTCHMED by 4.7% during the second quarter. Ameriprise Financial Inc. now owns 15,519 shares of the company’s stock valued at $234,000 after purchasing an additional 698 shares in the last quarter. M&G PLC raised its stake in shares of HUTCHMED by 0.4% in the second quarter. M&G PLC now owns 259,617 shares of the company’s stock worth $3,894,000 after buying an additional 924 shares during the period. Bank of America Corp DE raised its stake in shares of HUTCHMED by 5.9% in the third quarter. Bank of America Corp DE now owns 21,791 shares of the company’s stock worth $343,000 after buying an additional 1,209 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in shares of HUTCHMED by 12.1% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 17,363 shares of the company’s stock valued at $273,000 after buying an additional 1,873 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in HUTCHMED by 19.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 25,046 shares of the company’s stock worth $377,000 after acquiring an additional 4,116 shares in the last quarter. 8.82% of the stock is currently owned by hedge funds and other 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.