Jefferies Financial Group Brokers Reduce Earnings Estimates for HUTCHMED (China) Limited (NASDAQ:HCM)

HUTCHMED (China) Limited (NASDAQ:HCMGet Rating) – Equities researchers at Jefferies Financial Group reduced their FY2023 EPS estimates for HUTCHMED in a research note issued on Monday, May 2nd. Jefferies Financial Group analyst K. Shi now anticipates that the company will earn ($1.21) per share for the year, down from their previous forecast of ($1.08). Jefferies Financial Group also issued estimates for HUTCHMED’s FY2024 earnings at ($0.38) EPS, FY2025 earnings at $0.74 EPS and FY2026 earnings at $1.85 EPS.

Several other equities analysts have also commented on the company. Deutsche Bank Aktiengesellschaft lowered HUTCHMED from a “buy” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research upgraded HUTCHMED from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Wednesday. Finally, StockNews.com began coverage on HUTCHMED in a research report on Thursday, March 31st. They set a “hold” rating for the company. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $39.50.

NASDAQ:HCM opened at $12.38 on Thursday. The stock has a 50 day moving average of $18.65 and a 200-day moving average of $26.68. HUTCHMED has a 52 week low of $11.42 and a 52 week high of $43.94.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC lifted its position in HUTCHMED by 63.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,106 shares of the company’s stock worth $39,000 after purchasing an additional 429 shares during the period. Macquarie Group Ltd. acquired a new stake in HUTCHMED in the third quarter worth approximately $163,000. KBC Group NV acquired a new stake in HUTCHMED in the third quarter worth approximately $188,000. Daiwa Securities Group Inc. increased its holdings in shares of HUTCHMED by 5,787.6% in the third quarter. Daiwa Securities Group Inc. now owns 5,711 shares of the company’s stock valued at $209,000 after buying an additional 5,614 shares in the last quarter. Finally, Ensign Peak Advisors Inc increased its holdings in shares of HUTCHMED by 14.5% in the third quarter. Ensign Peak Advisors Inc now owns 6,300 shares of the company’s stock valued at $231,000 after buying an additional 800 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.

Read More

Receive News & Ratings for HUTCHMED Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HUTCHMED and related companies with MarketBeat.com's FREE daily email newsletter.