HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $12.04, but opened at $13.60. HUTCHMED shares last traded at $13.7280, with a volume of 145,382 shares changing hands.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of HUTCHMED from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. The Goldman Sachs Group cut their price target on HUTCHMED from $16.00 to $14.00 and set a "neutral" rating on the stock in a research note on Thursday, July 23rd. Weiss Ratings lowered HUTCHMED from a "hold (c-)" rating to a "sell (d)" rating in a research report on Friday, July 31st. Morgan Stanley set a $13.60 price objective on HUTCHMED in a research note on Thursday, May 28th. Finally, Bank of America dropped their target price on HUTCHMED from $20.00 to $17.00 and set a "buy" rating on the stock in a report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $14.87.
Read Our Latest Stock Report on HUTCHMED
HUTCHMED Trading Up 15.2%
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 company's 50-day moving average is $11.61 and its 200 day moving average is $12.73.
HUTCHMED (NASDAQ:HCM - Get Free Report) last issued its earnings results 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 business had revenue of $139.14 million for the quarter, compared to analyst estimates of $304.16 million. On average, analysts forecast that HUTCHMED will post 0.23 EPS for the current year.
Hedge Funds Weigh In On HUTCHMED
A number of hedge funds have recently added to or reduced their stakes in HCM. Renaissance Technologies LLC boosted its stake in HUTCHMED by 3.0% during the 4th quarter. Renaissance Technologies LLC now owns 134,900 shares of the company's stock valued at $1,798,000 after purchasing an additional 3,900 shares during the last quarter. UBS Group AG increased its holdings in shares of HUTCHMED by 112.8% in the 3rd quarter. UBS Group AG now owns 137,000 shares of the company's stock worth $2,158,000 after purchasing an additional 72,614 shares in the last quarter. Jane Street Group LLC raised its stake in shares of HUTCHMED by 128.0% in the first quarter. Jane Street Group LLC now owns 222,241 shares of the company's stock worth $3,343,000 after purchasing an additional 124,771 shares during the last quarter. State Street Corp raised its stake in shares of HUTCHMED by 1.2% in the fourth quarter. State Street Corp now owns 321,305 shares of the company's stock worth $4,283,000 after purchasing an additional 3,801 shares during the last quarter. Finally, Amundi raised its stake in shares of HUTCHMED by 41.9% in the third quarter. Amundi now owns 223,330 shares of the company's stock worth $3,620,000 after purchasing an additional 65,898 shares during the last quarter. 8.82% of the stock is currently owned by hedge funds and other institutional investors.
About HUTCHMED
(
Get Free Report)
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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