HUTCHMED (NASDAQ:HCM) Rating Increased to Buy at Wall Street Zen

Key Points

• HUTCHMED's stock rating has been upgraded from "hold" to "buy" by Wall Street Zen, signaling improved confidence from analysts.
• Bank of America raised its target price for HUTCHMED shares from $27.00 to $28.00 while Morgan Stanley downgraded its target price from $18.00 to $13.75.
• Institutional investors have been active, with several increasing their stakes in HUTCHMED during the second quarter, indicating growing interest in the company.

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

HCM has been the topic of several other research reports. Bank of America raised their target price on HUTCHMED from $27.00 to $28.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Zacks Research downgraded HUTCHMED from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 9th. Weiss Ratings restated a "hold (c)" rating on shares of HUTCHMED in a research report on Wednesday. Finally, Morgan Stanley downgraded HUTCHMED from an "equal weight" rating to an "underweight" rating and decreased their target price for the company from $18.00 to $13.75 in a research report on Monday, September 22nd. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $20.88.

HUTCHMED Stock Performance

Shares of HCM stock opened at $15.08 on Friday. The business's 50 day moving average is $16.11 and its two-hundred day moving average is $15.48. The company has a current ratio of 4.65, a quick ratio of 4.51 and a debt-to-equity ratio of 0.05. HUTCHMED has a 12-month low of $11.51 and a 12-month high of $21.50.

Institutional Investors Weigh In On HUTCHMED

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. increased its stake in HUTCHMED by 4.7% during the second quarter. Ameriprise Financial Inc. now owns 15,519 shares of the company's stock worth $234,000 after acquiring an additional 698 shares during the last quarter. M&G PLC increased its stake in HUTCHMED by 0.4% during the second quarter. M&G PLC now owns 259,617 shares of the company's stock worth $3,894,000 after acquiring an additional 924 shares during the last quarter. Summit Trail Advisors LLC increased its stake in HUTCHMED by 7.7% during the first quarter. Summit Trail Advisors LLC now owns 14,094 shares of the company's stock worth $212,000 after acquiring an additional 1,004 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in HUTCHMED by 23.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,490 shares of the company's stock worth $233,000 after acquiring an additional 2,916 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in HUTCHMED by 17.3% during the second quarter. Bank of America Corp DE now owns 20,582 shares of the company's stock worth $310,000 after acquiring an additional 3,035 shares during the last quarter. Institutional investors and hedge funds own 8.82% of the company's stock.

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.

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