HUTCHMED (NASDAQ:HCM) Shares Gap Up – What’s Next?

by · The Markets Daily

HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM – Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $12.04, but opened at $13.60. HUTCHMED shares last traded at $13.7280, with a volume of 145,382 shares traded.

Wall Street Analyst Weigh In

HCM has been the topic of several research analyst reports. Weiss Ratings cut shares of HUTCHMED from a “hold (c-)” rating to a “sell (d)” rating in a research note on Friday, July 31st. The Goldman Sachs Group reduced their price target on shares of HUTCHMED from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, July 23rd. Morgan Stanley set a $13.60 price objective on shares of HUTCHMED in a report on Thursday, May 28th. Wall Street Zen upgraded shares of HUTCHMED from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Bank of America lowered their price objective on shares of HUTCHMED from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $14.87.

Read Our Latest Stock Analysis on HUTCHMED

HUTCHMED Price Performance

The company has a current ratio of 5.64, a quick ratio of 5.50 and a debt-to-equity ratio of 0.06. The company has a fifty day simple moving average of $11.61 and a 200-day simple moving average of $12.73.

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 the consensus estimate of $0.14 by ($0.09). The firm had revenue of $139.14 million during the quarter, compared to analysts’ expectations of $304.16 million. Equities research analysts predict that HUTCHMED will post 0.23 EPS 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. XY Capital Ltd lifted its holdings in HUTCHMED by 115.2% during the second quarter. XY Capital Ltd now owns 104,130 shares of the company’s stock valued at $1,120,000 after purchasing an additional 55,736 shares in the last quarter. Amundi boosted its position in shares of HUTCHMED by 4.0% in the first quarter. Amundi now owns 232,246 shares of the company’s stock worth $3,474,000 after purchasing an additional 8,916 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of HUTCHMED in the first quarter worth $365,000. State Street Corp increased its stake in shares of HUTCHMED by 1.2% in the fourth quarter. State Street Corp now owns 321,305 shares of the company’s stock worth $4,283,000 after purchasing an additional 3,801 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of HUTCHMED by 3.0% during the 4th quarter. Renaissance Technologies LLC now owns 134,900 shares of the company’s stock valued at $1,798,000 after purchasing an additional 3,900 shares during the period. 8.82% of the stock is owned by hedge funds and other institutional investors.

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.

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