HUTCHMED (NASDAQ:HCM) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of HUTCHMED (NASDAQ:HCMGet Rating) from a hold rating to a buy rating in a research note published on Wednesday, Zacks.com reports. They currently have $15.00 price target on the stock.

According to Zacks, “Hutchison China MediTech Limited researches, develops, manufactures and sells pharmaceuticals and health-related consumer products. The Company offers drugs for oncology and autoimmune diseases treatment. Hutchison China MediTech Limited is based in Hong Kong. “

Several other equities analysts have also issued reports on HCM. Deutsche Bank Aktiengesellschaft lowered HUTCHMED from a buy rating to a hold rating in a research note on Wednesday. StockNews.com assumed coverage on HUTCHMED in a research note on Thursday, March 31st. They issued a hold rating on the stock. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Buy and a consensus price target of $39.50.

Shares of HCM opened at $12.38 on Wednesday. HUTCHMED has a 52-week low of $11.42 and a 52-week high of $43.94. The business’s 50 day moving average price is $18.65 and its two-hundred day moving average price is $26.68.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HCM. Capital International Investors grew its holdings in HUTCHMED by 1.4% during the fourth quarter. Capital International Investors now owns 9,054,891 shares of the company’s stock worth $317,923,000 after buying an additional 128,422 shares in the last quarter. General Atlantic L.P. bought a new stake in HUTCHMED during the third quarter worth $146,440,000. BlackRock Inc. grew its holdings in HUTCHMED by 14.9% during the third quarter. BlackRock Inc. now owns 3,462,775 shares of the company’s stock worth $126,771,000 after buying an additional 448,350 shares in the last quarter. Schroder Investment Management Group grew its holdings in HUTCHMED by 2.4% during the fourth quarter. Schroder Investment Management Group now owns 3,102,043 shares of the company’s stock worth $21,764,000 after buying an additional 71,992 shares in the last quarter. Finally, State Street Corp grew its holdings in HUTCHMED by 6.3% during the fourth quarter. State Street Corp now owns 1,265,289 shares of the company’s stock worth $44,386,000 after buying an additional 74,715 shares in the last quarter. Hedge funds and other institutional investors own 31.03% of the company’s stock.

About HUTCHMED (Get Rating)

HUTCHMED (China) Limited discovers, develops, and commercializes targeted therapeutics and immunotherapies for cancer and immunological diseases in HongKong and internationally. It operates in Oncology/Immunology and Other Ventures segments. The company develops Savolitinib, an inhibitor for non-small cell lung cancer (NSCLC), papillary and renal cell carcinoma, colorectal cancer (CRC), and gastric cancer (GC); and Fruquintinib, an inhibitor for CRC, breast cancer, GC, endometrial cancer (EMC), NSCLC, hepatocellular carcinoma, and gastrointestinal and solid tumors.

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