StockNews.com upgraded shares of HUTCHMED (NASDAQ:HCM – Free Report) from a hold rating to a buy rating in a report released on Wednesday.
Separately, Cantor Fitzgerald reissued an overweight rating on shares of HUTCHMED in a research note on Friday, January 12th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $29.70.
Read Our Latest Analysis on HCM
HUTCHMED Stock Up 1.2 %
Institutional Investors Weigh In On HUTCHMED
A number of hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP purchased a new stake in shares of HUTCHMED in the 1st quarter valued at approximately $44,000. China Universal Asset Management Co. Ltd. grew its stake in shares of HUTCHMED by 353.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,593 shares of the company’s stock worth $65,000 after purchasing an additional 2,801 shares in the last quarter. US Bancorp DE increased its holdings in HUTCHMED by 270.9% in the first quarter. US Bancorp DE now owns 3,687 shares of the company’s stock valued at $70,000 after buying an additional 2,693 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in HUTCHMED by 28.8% in the third quarter. Tower Research Capital LLC TRC now owns 5,723 shares of the company’s stock valued at $97,000 after buying an additional 1,279 shares in the last quarter. Finally, National Pension Service lifted its holdings in HUTCHMED by 429.1% during the 2nd quarter. National Pension Service now owns 9,101 shares of the company’s stock worth $115,000 after buying an additional 7,381 shares during the last quarter. Institutional investors and hedge funds own 8.82% of the company’s stock.
HUTCHMED Company Profile
HUTCHMED (China) Limited, together with its subsidiaries, discovers, develops, and commercializes targeted therapeutics and immunotherapies for cancer and immunological diseases in Hong Kong and internationally. The company develops Savolitinib for the treatment of non-small cell lung cancer (NSCLC), papillary renal cell carcinoma (RCC), and gastric cancer (GC); and Fruquintinib, an inhibitor for colorectal cancer (CRC), breast cancer, gastric cancer, microsatellite stable-CRC endometrial cancer (EMC), NSCLC, RCC, gastrointestinal, cervical, and solid tumors.
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