HUTCHMED (NASDAQ:HCM) was downgraded by analysts at The Goldman Sachs Group from a "buy" rating to a "neutral" rating in a note issued to investors on Wednesday, The Fly reports.
HCM has been the topic of several other research reports. Zacks Investment Research raised HUTCHMED from a "sell" rating to a "hold" rating in a research note on Tuesday, September 14th. Cantor Fitzgerald upped their price target on HUTCHMED from $40.00 to $45.00 and gave the stock an "overweight" rating in a report on Tuesday, July 13th. Finally, Jefferies Financial Group assumed coverage on HUTCHMED in a report on Tuesday, August 3rd. They set a "buy" rating and a $52.00 price target on the stock. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $44.25.
HCM opened at $38.18 on Wednesday. The stock's 50-day moving average price is $40.02 and its 200 day moving average price is $33.29. HUTCHMED has a 12-month low of $23.67 and a 12-month high of $43.94. The company has a current ratio of 4.41, a quick ratio of 4.30 and a debt-to-equity ratio of 0.05. The firm has a market cap of $6.60 billion, a price-to-earnings ratio of -42.42 and a beta of 1.08.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its holdings in shares of HUTCHMED by 227.3% in the 2nd quarter. Quadrant Capital Group LLC now owns 635 shares of the company's stock valued at $25,000 after acquiring an additional 441 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of HUTCHMED by 36.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,622 shares of the company's stock valued at $104,000 after acquiring an additional 694 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of HUTCHMED in the 2nd quarter valued at about $199,000. Ensign Peak Advisors Inc increased its holdings in shares of HUTCHMED by 300.0% in the 1st quarter. Ensign Peak Advisors Inc now owns 5,200 shares of the company's stock valued at $147,000 after acquiring an additional 3,900 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. purchased a new position in shares of HUTCHMED in the 2nd quarter valued at about $204,000. Institutional investors and hedge funds own 26.60% of the company's stock.
HUTCHMED Company Profile
HUTCHMED (China) Limited discovers, develops, and commercializes targeted therapeutics and immunotherapies for cancer and immunological diseases worldwide. It operates in two segments, Oncology/Immunology and Other Ventures. It manufactures, distributes, markets, and sells prescription and over-the-counter pharmaceutical, and consumer health products.
Featured Article: Investing strategies using the yield curve
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider HUTCHMED, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and HUTCHMED wasn't on the list.
While HUTCHMED currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here