HUTCHMED (NASDAQ:HCM) Upgraded to "Strong-Buy" at Wall Street Zen

Key Points

• HUTCHMED has received a rating upgrade from Wall Street Zen, increasing its status from "buy" to "strong-buy" in a recent report.
• Other analysts have had mixed views, with HSBC downgrading HUTCHMED from "buy" to "hold," while Bank of America raised its price target to $28 and maintained a "buy" rating.
• A significant number of institutional investors have increased their stakes in HUTCHMED, with the Public Employees Retirement System of Ohio raising its position by nearly 50% in the last quarter.

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

A number of other research firms have also recently commented on HCM. Bank of America boosted their target price on shares of HUTCHMED from $27.00 to $28.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. HSBC cut shares of HUTCHMED from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th.

HUTCHMED Trading Up 6.8%

Shares of NASDAQ HCM traded up $1.23 during midday trading on Friday, reaching $19.21. 99,588 shares of the company's stock traded hands, compared to its average volume of 54,111. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.83 and a quick ratio of 2.70. The stock's 50 day simple moving average is $15.79 and its 200-day simple moving average is $14.93. HUTCHMED has a one year low of $11.51 and a one year high of $21.50.

Institutional Investors Weigh In On HUTCHMED

Several institutional investors have recently bought and sold shares of the business. Crossmark Global Holdings Inc. boosted its stake in HUTCHMED by 31.4% during the 1st quarter. Crossmark Global Holdings Inc. now owns 24,420 shares of the company's stock valued at $367,000 after acquiring an additional 5,829 shares during the last quarter. Bank of America Corp DE lifted its position in HUTCHMED by 40.4% in the 4th quarter. Bank of America Corp DE now owns 22,723 shares of the company's stock valued at $327,000 after purchasing an additional 6,540 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in HUTCHMED by 49.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,710 shares of the company's stock valued at $39,000 after purchasing an additional 899 shares during the last quarter. Barclays PLC raised its position in shares of HUTCHMED by 1,483.6% during the 4th quarter. Barclays PLC now owns 2,407 shares of the company's stock worth $35,000 after buying an additional 2,255 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of HUTCHMED during the 4th quarter worth about $261,000. 8.82% of the stock is currently owned by hedge funds and other institutional investors.

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.