HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM) Receives Consensus Recommendation of "Hold" from Brokerages

Key Points

• HUTCHMED has a consensus “Hold” rating among seven analysts, with two sell ratings, one hold, three buys and one strong buy. The average 12-month price target is $14.87.
• Recent analyst sentiment was mixed but generally improved, with Bank of America reducing its buy-rated price target to $17 while Wall Street Zen, Daiwa and HSBC upgraded the stock to “Buy”; Weiss Ratings downgraded it to “Sell.”
• HUTCHMED shares opened at $13.82, up 2.7%, but the company’s latest quarterly results missed expectations, reporting $0.05 in earnings per share versus an estimated $0.14 and revenue of $139.14 million versus $304.16 million expected.

HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM - Get Free Report) has been given an average rating of "Hold" by the seven research firms that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $14.8667.

Several analysts have weighed in on the company. Bank of America lowered their price objective on HUTCHMED from $20.00 to $17.00 and set a "buy" rating for the company in a research report on Tuesday, July 7th. 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 upgraded HUTCHMED from a "hold" rating to a "buy" rating in a report on Thursday, September 3rd. Weiss Ratings cut HUTCHMED from a "hold (c-)" rating to a "sell (d)" rating in a research note on Friday, July 31st. Finally, HSBC upgraded shares of HUTCHMED from a "hold" rating to a "buy" rating in a report on Tuesday, September 8th.

HUTCHMED Stock Up 2.7%

Shares of HCM opened at $13.82 on Friday. HUTCHMED has a fifty-two week low of $9.77 and a fifty-two week high of $17.62. The firm has a 50 day moving average price of $12.21 and a 200-day moving average price of $12.63. 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 (NASDAQ:HCM - Get Free Report) last posted 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 business had revenue of $139.14 million for the quarter, compared to analyst estimates of $304.16 million. As a group, research analysts forecast that HUTCHMED will post 0.23 earnings per share for the current year.

Hedge Funds Weigh In On HUTCHMED

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Amundi lifted its position in HUTCHMED by 4.0% during the 1st quarter. Amundi now owns 232,246 shares of the company's stock valued at $3,474,000 after acquiring an additional 8,916 shares during the period. XY Capital Ltd grew its holdings in HUTCHMED by 115.2% in the second quarter. XY Capital Ltd now owns 104,130 shares of the company's stock worth $1,120,000 after purchasing an additional 55,736 shares during the period. Finally, Janney Montgomery Scott LLC bought a new position in shares of HUTCHMED during the first quarter valued at approximately $365,000. Hedge funds and other institutional investors own 8.82% of the company's stock.

HUTCHMED Company Profile

HUTCHMED NASDAQ: HCM is a biopharmaceutical company focused on discovering, developing and commercializing medicines for cancer and other serious diseases. The company combines drug research and development capabilities with commercial operations in China and international markets.

HUTCHMED's oncology portfolio includes fruquintinib, marketed in China as Elunate and in the United States as Fruzaqla for certain patients with metastatic colorectal cancer. The company also develops other targeted therapies, including savolitinib, a MET tyrosine kinase inhibitor, and surufatinib, an angiogenesis and immunomodulatory therapy.

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