HUTCHMED (NASDAQ:HCM) Upgraded by HSBC to Buy Rating

HUTCHMED (NASDAQ:HCM) was upgraded by analysts at HSBC from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports.

HCM has been the subject of several other reports. Wall Street Zen upgraded shares of HUTCHMED from a “hold” rating to a “buy” rating in a 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. Morgan Stanley set a $13.60 target price on HUTCHMED in a research note on Thursday, May 28th. Bank of America dropped their price target on HUTCHMED from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. Finally, The Goldman Sachs Group reduced 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 analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, HUTCHMED currently has an average rating of “Hold” and an average price target of $14.87.

HUTCHMED Stock Performance

Shares of HCM stock traded down $0.13 during trading hours on Tuesday, reaching $13.96. The company’s stock had a trading volume of 41,523 shares, compared to its average volume of 48,721. HUTCHMED has a one year low of $9.77 and a one year high of $18.30. The firm’s fifty day simple moving average is $11.83 and its 200 day simple moving average is $12.71. 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) last released 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 company had revenue of $139.14 million for the quarter, compared to analyst estimates of $304.16 million. On average, research analysts expect that HUTCHMED will post 0.33 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HCM. XY Capital Ltd lifted its stake in shares of HUTCHMED by 115.2% in the second quarter. XY Capital Ltd now owns 104,130 shares of the company’s stock worth $1,120,000 after buying an additional 55,736 shares in the last quarter. Amundi grew its holdings in shares of HUTCHMED by 4.0% during the first quarter. Amundi now owns 232,246 shares of the company’s stock valued at $3,474,000 after buying an additional 8,916 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of HUTCHMED during the first quarter valued at approximately $365,000. Crossmark Global Holdings Inc. increased its position in shares of HUTCHMED by 3.3% during the fourth quarter. Crossmark Global Holdings Inc. now owns 52,476 shares of the company’s stock valued at $700,000 after acquiring an additional 1,680 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in HUTCHMED by 3.0% in the 4th quarter. Renaissance Technologies LLC now owns 134,900 shares of the company’s stock worth $1,798,000 after acquiring an additional 3,900 shares during the last quarter. 8.82% of the stock is owned by hedge funds and other institutional investors.

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.