HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM) Stock Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• HUTCHMED carries a “Moderate Buy” consensus rating from six brokerages, with three buys, one strong buy, one hold and one sell. The average 12-month price target is $14.87, although Goldman Sachs and Bank of America recently reduced their targets.
• Institutional investors and hedge funds own 8.82% of the company; XY Capital more than doubled its stake, while Amundi increased its position by 4%.
• HCM shares opened at $13.68, within a 12-month range of $9.77 to $16.33. The company’s latest quarterly results missed expectations, reporting $0.05 in EPS versus $0.14 expected and revenue of $139.14 million versus $304.16 million estimated.

Shares of HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM - Get Free Report) have been assigned an average rating of "Moderate Buy" from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $14.87.

HCM has been the subject of several recent analyst reports. The Goldman Sachs Group dropped their price objective on HUTCHMED from $16.00 to $14.00 and set a "neutral" rating for the company in a research report on Thursday, July 23rd. Daiwa Securities Group upgraded HUTCHMED from a "hold" rating to a "buy" rating in a research report on Thursday, September 3rd. Bank of America lowered their target price on HUTCHMED from $20.00 to $17.00 and set a "buy" rating for the company in a research note on Tuesday, July 7th. Wall Street Zen raised shares of HUTCHMED from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Finally, HSBC raised shares of HUTCHMED from a "hold" rating to a "buy" rating in a report on Tuesday, September 8th.

Institutional Trading of HUTCHMED

Hedge funds have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC acquired a new stake in shares of HUTCHMED during the 1st quarter valued at $365,000. XY Capital Ltd grew its position in HUTCHMED by 115.2% during the 2nd quarter. XY Capital Ltd now owns 104,130 shares of the company's stock worth $1,120,000 after acquiring an additional 55,736 shares during the last quarter. Finally, Amundi grew its position 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 during the last quarter. Institutional investors and hedge funds own 8.82% of the company's stock.

HUTCHMED Stock Down 3.0%

HCM stock opened at $13.68 on Tuesday. The company's 50-day moving average price is $13.22 and its two-hundred day moving average price is $12.65. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.64 and a quick ratio of 5.50. HUTCHMED has a 12 month low of $9.77 and a 12 month high of $16.33.

HUTCHMED (NASDAQ:HCM - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.09). The firm had revenue of $139.14 million for the quarter, compared to the consensus estimate of $304.16 million. On average, analysts predict that HUTCHMED will post 0.23 EPS for the current year.

HUTCHMED Company Profile

HUTCHMED NASDAQ: HCM is a biopharmaceutical company focused on discovering, developing and commercializing medicines for cancer and immunological diseases. Founded in 2000, the company has built an integrated research and development platform spanning drug discovery, clinical development, regulatory activities and commercialization.

HUTCHMED's portfolio includes targeted therapies and other treatments for solid tumors and hematologic malignancies. Its medicines include fruquintinib, marketed in China as Elunate and in the United States as Fruzaqla, and savolitinib, marketed in China as Orpathys through a collaboration with AstraZeneca.

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