HUTCHMED (NASDAQ:HCM) Upgraded by HSBC to "Buy" Rating

Key Points

• HSBC upgraded HUTCHMED from “Hold” to “Buy,” joining Wall Street Zen and Daiwa Securities Group, which also recently raised their ratings.
• Despite the upgrades, analyst sentiment remains mixed: HUTCHMED has a consensus “Hold” rating and an average price target of $14.87.
• HUTCHMED reported quarterly EPS of $0.05, below the $0.14 consensus estimate, while revenue of $139.14 million fell well short of analysts’ $304.16 million expectation.

HUTCHMED (NASDAQ:HCM - Get Free Report) was upgraded by equities research analysts at HSBC from a "hold" rating to a "buy" rating in a report released on Tuesday, MarketBeat reports.

Other equities research analysts also recently issued reports about the stock. Wall Street Zen raised shares of HUTCHMED from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Daiwa Securities Group raised shares of HUTCHMED from a "hold" rating to a "buy" rating in a report on Thursday, September 3rd. Bank of America dropped their price objective on shares of HUTCHMED from $20.00 to $17.00 and set a "buy" rating for the company in a report on Tuesday, July 7th. Morgan Stanley set a $13.60 target price on HUTCHMED in a research note on Thursday, May 28th. Finally, The Goldman Sachs Group dropped their price target on HUTCHMED from $16.00 to $14.00 and set a "neutral" rating for the company in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $14.87.

HUTCHMED Price Performance

HUTCHMED stock traded down $0.13 during midday trading on Tuesday, reaching $13.96. 41,523 shares of the stock were exchanged, compared to its average volume of 48,721. HUTCHMED has a 52 week low of $9.77 and a 52 week high of $18.30. The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.50 and a current ratio of 5.64. The company's fifty day moving average is $11.83 and its 200-day moving average is $12.71.

HUTCHMED (NASDAQ:HCM - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.09). The firm had revenue of $139.14 million for the quarter, compared to analysts' expectations of $304.16 million. As a group, equities analysts forecast that HUTCHMED will post 0.33 EPS for the current year.

Institutional Investors Weigh In On HUTCHMED

Several institutional investors have recently bought and sold shares of HCM. XY Capital Ltd lifted its position in HUTCHMED by 115.2% in the second 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 last quarter. Amundi grew its holdings in shares of HUTCHMED by 4.0% in 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 last quarter. Janney Montgomery Scott LLC bought a new position in shares of HUTCHMED in the first quarter worth approximately $365,000. Jane Street Group LLC increased its stake in shares of HUTCHMED by 128.0% in the first quarter. Jane Street Group LLC now owns 222,241 shares of the company's stock worth $3,343,000 after buying an additional 124,771 shares during the period. Finally, UBS Group AG increased its stake in shares of HUTCHMED by 112.8% in the third quarter. UBS Group AG now owns 137,000 shares of the company's stock worth $2,158,000 after buying an additional 72,614 shares during the period. 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.

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