HUTCHMED (NASDAQ:HCM) Share Price Crosses Above 50 Day Moving Average - Here's Why

Key Points

• HUTCHMED shares rose above their 50-day moving average, reaching $11.88 and closing at $11.83, compared with the moving average of $11.00.
• Analyst sentiment remains mixed: the stock has an overall “Hold” consensus and an average price target of $14.87, while several firms recently lowered their targets and Weiss Ratings downgraded the stock to “Sell.”
• HUTCHMED reported quarterly earnings of $0.05 per share, below the $0.14 consensus estimate, and revenue of $139.14 million versus expectations of $304.16 million.

HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM - Get Free Report) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $11.00 and traded as high as $11.88. HUTCHMED shares last traded at $11.83, with a volume of 31,527 shares trading hands.

Analysts Set New Price Targets

HCM has been the subject of a number of recent research reports. The Goldman Sachs Group dropped their price target on shares of HUTCHMED from $16.00 to $14.00 and set a "neutral" rating for the company in a research note on Thursday, July 23rd. Morgan Stanley set a $13.60 price objective on shares of HUTCHMED in a research note on Thursday, May 28th. Bank of America lowered their target price on shares of HUTCHMED from $20.00 to $17.00 and set a "buy" rating for the company in a report on Tuesday, July 7th. Finally, Weiss Ratings cut shares of HUTCHMED from a "hold (c-)" rating to a "sell (d)" rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, HUTCHMED presently has an average rating of "Hold" and a consensus target price of $14.87.

HUTCHMED Price Performance

The business has a 50 day moving average price of $11.00 and a 200 day moving average price of $13.10. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.64 and a quick ratio of 5.50.

HUTCHMED (NASDAQ:HCM - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.09). The company had revenue of $139.14 million for the quarter, compared to analyst estimates of $304.16 million. As a group, sell-side analysts expect that HUTCHMED will post 0.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On HUTCHMED

Hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in shares of HUTCHMED by 131.5% in the 4th quarter. Blue Trust Inc. now owns 7,708 shares of the company's stock valued at $103,000 after buying an additional 4,378 shares during the period. Ameriprise Financial Inc. lifted its holdings 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 in the last quarter. Bank of America Corp DE lifted its holdings 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 in the last quarter. Dimensional Fund Advisors LP lifted its holdings in HUTCHMED by 34.2% during the third quarter. Dimensional Fund Advisors LP now owns 21,721 shares of the company's stock worth $342,000 after acquiring an additional 5,538 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in HUTCHMED in the first quarter valued at about $365,000. 8.82% of the stock is owned by institutional investors.

About HUTCHMED

HUTCHMED NASDAQ: HCM is a fully integrated biopharmaceutical company focused on discovering, developing, manufacturing and commercializing targeted therapies and immunotherapies for the treatment of cancer and other diseases. The company leverages in-house capabilities in small-molecule chemistry, biologics engineering and translational medicine to advance candidates through all stages of development. HUTCHMED's integrated model encompasses early discovery research, clinical development, regulatory filings and commercial launches, enabling seamless progression from laboratory to market.

HUTCHMED's commercial portfolio includes several in-market oncology therapies approved in China, including fruquintinib for metastatic colorectal cancer, surufatinib for neuroendocrine tumors and savolitinib for non-small cell lung cancer.

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