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.

Zacks Research lowered shares of HUTCHMED (NASDAQ:HCM - Free Report) from a strong-buy rating to a hold rating in a research report released on Tuesday, September 9th,Zacks.com reports.

A number of other research firms also recently commented on HCM. HSBC downgraded shares of HUTCHMED from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. Wall Street Zen downgraded shares of HUTCHMED from a "buy" rating to a "hold" rating in a report on Sunday, September 7th. Finally, Bank of America raised their price objective on shares of HUTCHMED from $27.00 to $28.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $28.00.

HUTCHMED Stock Down 0.1%

Shares of NASDAQ:HCM traded down $0.02 during midday trading on Tuesday, reaching $17.52. 36,903 shares of the company's stock were exchanged, compared to its average volume of 79,659. The company's 50 day simple moving average is $16.50 and its two-hundred day simple moving average is $15.40. HUTCHMED has a 12 month low of $11.51 and a 12 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.

Institutional Investors Weigh In On HUTCHMED

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HCM. Barclays PLC increased its position in HUTCHMED by 1,483.6% in the 4th quarter. Barclays PLC now owns 2,407 shares of the company's stock valued at $35,000 after acquiring an additional 2,255 shares in the last quarter. Jane Street Group LLC grew its position in shares of HUTCHMED by 54.7% during the 4th quarter. Jane Street Group LLC now owns 97,470 shares of the company's stock worth $1,405,000 after buying an additional 34,473 shares during the period. Bank of America Corp DE grew its position 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 worth $327,000 after buying an additional 6,540 shares during the period. Public Employees Retirement System of Ohio grew its position 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 period. Finally, Summit Trail Advisors LLC grew its position 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 period. Institutional investors and hedge funds 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.