HUTCHMED (NASDAQ:HCM) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded HUTCHMED from “buy” to “strong buy.” HSBC and Daiwa also recently raised their ratings to “buy,” while Goldman Sachs cut its price target to $14 and maintained a “neutral” rating.
• MarketBeat’s consensus rating is “Moderate Buy”, with a consensus price target of $14.87. The stock opened at $14.90 and has traded between $9.77 and $16.33 over the past 12 months.
• Hedge funds and other institutional investors own 8.82% of HUTCHMED shares; several firms increased their holdings recently.

HUTCHMED (NASDAQ:HCM - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Other equities analysts also recently issued reports about the stock. HSBC upgraded shares of HUTCHMED from a "hold" rating to a "buy" rating in a research note on Tuesday, September 8th. The Goldman Sachs Group decreased their price target on shares of HUTCHMED from $16.00 to $14.00 and set a "neutral" rating for the company in a research note on Thursday, July 23rd. Weiss Ratings upgraded HUTCHMED from a "sell (d)" rating to a "sell (d+)" rating in a report on Tuesday, October 20th. Finally, Daiwa Securities Group raised HUTCHMED from a "hold" rating to a "buy" rating in a research note on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $14.87.

HUTCHMED Stock Performance

HCM stock opened at $14.90 on Friday. HUTCHMED has a 12 month low of $9.77 and a 12 month high of $16.33. The firm's 50-day moving average is $14.06 and its 200 day moving average is $13.20. The company has a quick ratio of 5.50, a current ratio of 5.64 and a debt-to-equity ratio of 0.06.

Institutional Trading of HUTCHMED

Hedge funds have recently added to or reduced their stakes in the business. Amundi grew its holdings in HUTCHMED by 4.0% during the 1st quarter. Amundi now owns 232,246 shares of the company's stock worth $3,474,000 after acquiring an additional 8,916 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in HUTCHMED by 25.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 106,185 shares of the company's stock valued at $1,553,000 after purchasing an additional 21,270 shares during the period. XY Capital Ltd increased its position in HUTCHMED by 115.2% during the 2nd quarter. XY Capital Ltd now owns 104,130 shares of the company's stock valued at $1,120,000 after purchasing an additional 55,736 shares during the period. Finally, Janney Montgomery Scott LLC bought a new stake in shares of HUTCHMED in the 1st quarter valued at about $365,000. 8.82% of the stock is owned by hedge funds and other institutional investors.

HUTCHMED Company Profile

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.

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