Wall Street Zen Downgrades HUTCHMED (NASDAQ:HCM) to Buy

Key Points

• HUTCHMED was downgraded from a "strong-buy" to a "buy" rating by Wall Street Zen, reflecting a more cautious outlook on the stock.
• On the other hand, Bank of America increased its target price for HUTCHMED from $27.00 to $28.00, maintaining a "buy" rating, indicating potential for growth.
• Recent institutional activity saw Renaissance Technologies and Barclays PLC significantly increasing their stakes in HUTCHMED, suggesting continued interest from large investors.

HUTCHMED (NASDAQ:HCM - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Saturday.

A number of other equities research analysts have also commented on HCM. Bank of America upped their price objective on shares of HUTCHMED from $27.00 to $28.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. HSBC lowered shares of HUTCHMED from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th.

HUTCHMED Stock Up 3.2%

HCM stock traded up $0.48 during trading on Friday, reaching $15.48. 51,052 shares of the company were exchanged, compared to its average volume of 83,864. The company has a 50-day moving average of $16.40 and a two-hundred day moving average of $15.11. HUTCHMED has a twelve month low of $11.51 and a twelve month high of $21.50. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.65 and a quick ratio of 4.51.

Hedge Funds Weigh In On HUTCHMED

Large investors have recently modified their holdings of the company. Crossmark Global Holdings Inc. raised its stake in shares of HUTCHMED by 31.4% during the first quarter. Crossmark Global Holdings Inc. now owns 24,420 shares of the company's stock worth $367,000 after acquiring an additional 5,829 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of HUTCHMED by 40.4% during the 4th quarter. Bank of America Corp DE now owns 22,723 shares of the company's stock valued at $327,000 after buying an additional 6,540 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in HUTCHMED by 49.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,710 shares of the company's stock worth $39,000 after purchasing an additional 899 shares in the last quarter. Barclays PLC boosted its stake in HUTCHMED by 1,483.6% in the 4th quarter. Barclays PLC now owns 2,407 shares of the company's stock worth $35,000 after purchasing an additional 2,255 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in HUTCHMED in the 4th quarter worth about $261,000. 8.82% of the stock is currently owned by institutional investors.

HUTCHMED Company Profile

HUTCHMED (China) Ltd. is a holding company, which engages in the research and development, manufacture, and sale of pharmaceuticals and health-oriented consumer products. It operates through the Oncology/Immunology and Other Ventures segments. The Oncology/Immunology segment includes the discovery, development, and commercialization of targeted therapies and immunotherapies for the treatment of cancer and immunological diseases.