HUTCHMED (NASDAQ:HCM) Shares Up 6.6% – Should You Buy?

HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM) was up 6.6% during mid-day trading on Thursday . The company traded as high as $11.64 and last traded at $11.4960. Approximately 48,063 shares were traded during trading, an increase of 16% from the average daily volume of 41,289 shares. The stock had previously closed at $10.78.

Wall Street Analyst Weigh In

HCM has been the topic of several research analyst reports. Morgan Stanley set a $13.60 price target on HUTCHMED in a research report on Thursday, May 28th. Wall Street Zen cut HUTCHMED from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Weiss Ratings lowered HUTCHMED from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. Finally, Bank of America dropped their price target on shares of HUTCHMED from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, March 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $16.80.

HUTCHMED Stock Up 5.9%

The company has a current ratio of 4.96, a quick ratio of 4.83 and a debt-to-equity ratio of 0.05. The stock’s fifty day moving average is $11.83 and its two-hundred day moving average is $13.59.

Institutional Investors Weigh In On HUTCHMED

A number of institutional investors and hedge funds have recently modified their holdings of HCM. Goldman Sachs Group Inc. grew its holdings in shares of HUTCHMED by 8.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 93,919 shares of the company’s stock worth $1,413,000 after acquiring an additional 7,342 shares during the last quarter. Jane Street Group LLC raised its position in shares of HUTCHMED by 128.0% during the first quarter. Jane Street Group LLC now owns 222,241 shares of the company’s stock worth $3,343,000 after purchasing an additional 124,771 shares during the period. 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 valued at $234,000 after purchasing an additional 698 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of HUTCHMED by 17.3% during the second 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 last quarter. Finally, BNP Paribas Financial Markets boosted 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 valued at $377,000 after purchasing an additional 4,116 shares during the period. Institutional investors and hedge funds own 8.82% of the company’s stock.

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.