HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM - Get Free Report)'s share price crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $11.54 and traded as high as $12.44. HUTCHMED shares last traded at $12.12, with a volume of 69,204 shares traded.
Wall Street Analysts Forecast Growth
HCM has been the topic of a number of analyst reports. Morgan Stanley set a $13.60 price target on HUTCHMED in a research report on Thursday, May 28th. Wall Street Zen raised HUTCHMED from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. The Goldman Sachs Group reduced 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. Bank of America cut their price target 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 note on Friday, July 31st. One investment 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 stock. According to MarketBeat, HUTCHMED presently has an average rating of "Hold" and an average price target of $14.87.
Check Out Our Latest Stock Report on HUTCHMED
HUTCHMED Stock Down 2.1%
The company has a 50-day simple moving average of $11.54 and a 200-day simple moving average of $12.77. 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 posted its quarterly earnings data on Thursday, July 30th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.14 by ($0.09). The business had revenue of $139.14 million during the quarter, compared to the consensus estimate of $304.16 million. On average, equities research analysts forecast that HUTCHMED will post 0.23 earnings per share for the current year.
Institutional Investors Weigh In On HUTCHMED
Several hedge funds and other institutional investors have recently added to or reduced their stakes in HCM. Ameriprise Financial Inc. lifted its position in shares of 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 purchasing an additional 698 shares in the last quarter. Bank of America Corp DE lifted its holdings 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 buying an additional 3,035 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings 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 buying an additional 5,538 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in HUTCHMED in the 1st quarter valued at $365,000. Finally, BNP Paribas Financial Markets boosted its position in HUTCHMED by 19.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 25,046 shares of the company's stock valued at $377,000 after buying an additional 4,116 shares during the last quarter. Institutional investors and hedge funds own 8.82% of the company's stock.
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.
Further Reading
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