HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM) Receives Consensus Recommendation of “Hold” from Brokerages

HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM) has been assigned an average rating of “Hold” from the six brokerages that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $14.8667.

A number of equities analysts have issued reports on the stock. Wall Street Zen upgraded shares of HUTCHMED from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Bank of America dropped their target price 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. The Goldman Sachs Group cut their target price 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 downgraded HUTCHMED from a “hold (c-)” rating to a “sell (d)” rating in a report on Friday, July 31st. Finally, Morgan Stanley set a $13.60 price target on HUTCHMED in a research report on Thursday, May 28th.

HUTCHMED Price Performance

Shares of NASDAQ HCM opened at $12.63 on Monday. The firm’s fifty day moving average is $11.30 and its 200 day moving average is $12.87. HUTCHMED has a 52 week low of $9.77 and a 52 week high of $18.30. The company has a quick ratio of 5.50, a current ratio of 5.64 and a debt-to-equity ratio of 0.06.

HUTCHMED (NASDAQ:HCM) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.05 earnings per share 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. As a group, analysts predict that HUTCHMED will post 0.23 EPS for the current fiscal year.

Hedge Funds Weigh In On HUTCHMED

Hedge funds have recently made changes to their positions in the business. Ameriprise Financial Inc. boosted its holdings in HUTCHMED by 4.7% in the second quarter. Ameriprise Financial Inc. now owns 15,519 shares of the company’s stock valued at $234,000 after acquiring an additional 698 shares in the last quarter. Bank of America Corp DE increased 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 valued at $310,000 after purchasing an additional 3,035 shares during the period. Dimensional Fund Advisors LP raised its holdings in HUTCHMED by 34.2% in 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 in the last quarter. Janney Montgomery Scott LLC bought a new position in HUTCHMED in the 1st quarter worth $365,000. Finally, BNP Paribas Financial Markets lifted its position 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 purchasing an additional 4,116 shares during the period. 8.82% of the stock is owned by hedge funds and other institutional investors.

HUTCHMED Company Profile

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.