HUTCHMED (NASDAQ:HCM) Upgraded at HSBC

HSBC upgraded shares of HUTCHMED (NASDAQ:HCM) from a hold rating to a buy rating in a research note released on Tuesday, MarketBeat reports.

Several other equities analysts also recently issued reports on the stock. Morgan Stanley set a $13.60 price objective on shares of HUTCHMED in a research note on Thursday, May 28th. Weiss Ratings downgraded HUTCHMED from a “hold (c-)” rating to a “sell (d)” rating in a report on Friday, July 31st. Wall Street Zen raised HUTCHMED from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Daiwa Securities Group raised HUTCHMED from a “hold” rating to a “buy” rating in a research report on Thursday, September 3rd. Finally, The Goldman Sachs Group dropped 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. One investment 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 company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $14.87.

HUTCHMED Trading Down 3.3%

HCM stock opened at $13.12 on Tuesday. 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 has a twelve month low of $9.77 and a twelve month high of $18.30. The company’s 50 day moving average is $11.98 and its two-hundred day moving average is $12.68.

HUTCHMED (NASDAQ:HCM) 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 firm had revenue of $139.14 million for the quarter, compared to analyst estimates of $304.16 million. As a group, equities research analysts expect that HUTCHMED will post 0.23 EPS for the current fiscal year.

Institutional Investors Weigh In On HUTCHMED

Large investors have recently modified their holdings of the stock. Ameriprise Financial Inc. lifted its holdings 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 during the period. Bank of America Corp DE increased its stake in HUTCHMED by 17.3% in the 2nd quarter. Bank of America Corp DE now owns 20,582 shares of the company’s stock valued at $310,000 after buying an additional 3,035 shares during the period. 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 buying an additional 5,538 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in HUTCHMED during the 1st quarter worth $365,000. Finally, BNP Paribas Financial Markets lifted its stake in shares of HUTCHMED by 19.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 25,046 shares of the company’s stock worth $377,000 after acquiring an additional 4,116 shares during the period. Hedge funds and other institutional investors own 8.82% of the company’s stock.

About HUTCHMED

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.