HUTCHMED (NASDAQ:HCM) Sees Large Volume Increase - Should You Buy?

Key Points

• HUTCHMED shares rose 6.6% to $13.63, despite trading volume declining 27% from the prior session.
• Analyst sentiment is mixed: recent upgrades from Wall Street Zen and HSBC contrast with target-price cuts from Bank of America and Goldman Sachs. The consensus rating remains “Hold”, with an average price target of $14.87.
• The company reported quarterly EPS of $0.05, missing the $0.14 consensus estimate, while revenue of $139.14 million was well below the $304.16 million forecast. HUTCHMED nevertheless maintains strong liquidity, with a 5.50 quick ratio and 5.64 current ratio.

HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM - Get Free Report) shares saw unusually-high trading volume on Monday . 36,049 shares were traded during mid-day trading, a decline of 27% from the previous session's volume of 49,466 shares.The stock last traded at $13.6330 and had previously closed at $12.82.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of HUTCHMED from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Bank of America dropped their price objective on shares of HUTCHMED from $20.00 to $17.00 and set a "buy" rating for the company in a research note on Tuesday, July 7th. The Goldman Sachs Group decreased their target price on shares of HUTCHMED from $16.00 to $14.00 and set a "neutral" rating on the stock in a research note on Thursday, July 23rd. HSBC raised shares of HUTCHMED from a "hold" rating to a "buy" rating in a research note on Tuesday, September 8th. Finally, Morgan Stanley set a $13.60 price target on shares of HUTCHMED in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $14.87.

HUTCHMED Trading Up 6.6%

The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.50 and a current ratio of 5.64. The stock has a 50 day moving average price of $12.01 and a 200 day moving average price of $12.66.

HUTCHMED (NASDAQ:HCM - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.09). The firm had revenue of $139.14 million during the quarter, compared to the consensus estimate of $304.16 million. Equities analysts predict that HUTCHMED will post 0.23 EPS for the current year.

Hedge Funds Weigh In On HUTCHMED

Large investors have recently modified their holdings of the business. Ameriprise Financial Inc. grew its stake in shares of HUTCHMED by 4.7% in the second quarter. Ameriprise Financial Inc. now owns 15,519 shares of the company's stock worth $234,000 after purchasing an additional 698 shares during the last quarter. Bank of America Corp DE raised its position in HUTCHMED by 17.3% during the 2nd quarter. Bank of America Corp DE now owns 20,582 shares of the company's stock worth $310,000 after purchasing an additional 3,035 shares during the last quarter. Dimensional Fund Advisors LP raised its position in HUTCHMED by 34.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 21,721 shares of the company's stock worth $342,000 after purchasing an additional 5,538 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in HUTCHMED during the 1st quarter worth about $365,000. Finally, BNP Paribas Financial Markets lifted its holdings in HUTCHMED by 19.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 25,046 shares of the company's stock worth $377,000 after buying an additional 4,116 shares during the period. Institutional investors own 8.82% of the company's stock.

About HUTCHMED

HUTCHMED NASDAQ: HCM is a biopharmaceutical company focused on discovering, developing and commercializing medicines for cancer and other serious diseases. The company combines drug research and development capabilities with commercial operations in China and international markets.

HUTCHMED's oncology portfolio includes fruquintinib, marketed in China as Elunate and in the United States as Fruzaqla for certain patients with metastatic colorectal cancer. The company also develops other targeted therapies, including savolitinib, a MET tyrosine kinase inhibitor, and surufatinib, an angiogenesis and immunomodulatory therapy.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.