HUTCHMED (NASDAQ:HCM) Rating Lowered to Hold at Wall Street Zen

Key Points

• HUTCHMED has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, reflecting a shift in analysts' sentiment towards the company.
• Bank of America raised its target price for HUTCHMED shares from $27.00 to $28.00, while Zacks Research upgraded it to a "strong-buy" recently.
• Significant institutional investments have occurred, with firms like M&G PLC and Jane Street Group LLC increasing their stakes in HUTCHMED during recent quarters.

Wall Street Zen lowered shares of HUTCHMED (NASDAQ:HCM - Free Report) from a buy rating to a hold rating in a report released on Sunday morning.

A number of other brokerages have also commented on HCM. Bank of America upped 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. HSBC lowered HUTCHMED from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, Zacks Research upgraded HUTCHMED to a "strong-buy" rating in a research report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, HUTCHMED presently has a consensus rating of "Buy" and a consensus target price of $28.00.

HUTCHMED Trading Up 1.4%

Shares of HCM traded up $0.23 during mid-day trading on Friday, hitting $16.11. 28,751 shares of the company traded hands, compared to its average volume of 49,314. HUTCHMED has a 1-year low of $11.51 and a 1-year high of $21.50. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.51 and a current ratio of 4.65. The business has a 50 day moving average of $16.44 and a 200 day moving average of $15.24.

Institutional Investors Weigh In On HUTCHMED

Several institutional investors have recently added to or reduced their stakes in the business. Barclays PLC increased its position in HUTCHMED by 1,483.6% during the fourth quarter. Barclays PLC now owns 2,407 shares of the company's stock worth $35,000 after buying an additional 2,255 shares during the period. Public Employees Retirement System of Ohio increased its position in HUTCHMED by 49.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,710 shares of the company's stock worth $39,000 after buying an additional 899 shares during the period. Summit Trail Advisors LLC increased its position 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 buying an additional 1,004 shares during the period. Vanguard Personalized Indexing Management LLC increased its position 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 buying an additional 2,916 shares during the period. Finally, Ameriprise Financial Inc. increased its position 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 buying an additional 698 shares during the period. Hedge funds and other institutional investors own 8.82% of the company's stock.

About HUTCHMED

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.