HUTCHMED (NASDAQ:HCM) Rating Lowered to Hold at Zacks Research

Key Points

• The rating for HUTCHMED has been downgraded from a "strong-buy" to a "hold" by Zacks Research, indicating a more cautious outlook on the stock.
• While HUTCHMED's stock price target has been raised to $28.00 by Bank of America, the current consensus rating across analysts is "Hold."
• HUTCHMED shares have dropped 2.1% recently, with current trading values around $15.71.

HUTCHMED (NASDAQ:HCM - Get Free Report) was downgraded by equities researchers at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Tuesday,Zacks.com reports.

Several other equities research analysts also recently weighed in on the company. HSBC downgraded HUTCHMED from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. Bank of America increased their price target on HUTCHMED from $27.00 to $28.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Finally, Wall Street Zen downgraded HUTCHMED from a "buy" rating to a "hold" rating in a report on Sunday. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $28.00.

HUTCHMED Stock Down 2.1%

Shares of HCM opened at $15.71 on Tuesday. 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 company's 50 day simple moving average is $16.41 and its 200-day simple moving average is $15.39. HUTCHMED has a 12-month low of $11.51 and a 12-month high of $21.50.

Institutional Investors Weigh In On HUTCHMED

Hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC lifted its holdings in HUTCHMED by 1,483.6% in the fourth quarter. Barclays PLC now owns 2,407 shares of the company's stock valued at $35,000 after acquiring an additional 2,255 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of HUTCHMED by 49.6% during the 4th 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 last quarter. Summit Trail Advisors LLC raised its stake in shares of HUTCHMED by 7.7% during the 1st 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 last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of HUTCHMED by 23.2% during the 2nd 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 last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of HUTCHMED by 4.7% during the 2nd 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 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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