HUTCHMED (NASDAQ:HCM) Shares Gap Down – Here’s What Happened

HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM) shares gapped down prior to trading on Wednesday . The stock had previously closed at $12.64, but opened at $12.30. HUTCHMED shares last traded at $12.51, with a volume of 9,636 shares trading hands.

Analysts Set New Price Targets

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

HUTCHMED Trading Down 1.5%

The company has a quick ratio of 5.50, a current ratio of 5.64 and a debt-to-equity ratio of 0.06. The firm has a 50 day moving average price of $11.20 and a two-hundred day moving average price of $12.92.

HUTCHMED (NASDAQ:HCM) last posted its earnings results on Thursday, July 30th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.09). The company had revenue of $139.14 million for the quarter, compared to analysts’ expectations of $304.16 million. Sell-side analysts expect that HUTCHMED will post 0.23 EPS for the current fiscal year.

Institutional Investors Weigh In On HUTCHMED

Large investors have recently made changes to their positions in the business. Ameriprise Financial Inc. raised its stake in shares of HUTCHMED by 4.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 15,519 shares of the company’s stock valued at $234,000 after acquiring an additional 698 shares during the period. Bank of America Corp DE boosted 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 worth $310,000 after purchasing an additional 3,035 shares during the period. Dimensional Fund Advisors LP boosted 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 purchasing an additional 5,538 shares during the period. Janney Montgomery Scott LLC acquired a new stake in HUTCHMED in the 1st quarter valued at $365,000. Finally, BNP Paribas Financial Markets increased its holdings in 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 in the last quarter. 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.