HUTCHMED (NASDAQ:HCM) Raised to “Buy” at StockNews.com

HUTCHMED (NASDAQ:HCM) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Monday.

Separately, The Goldman Sachs Group raised their price target on shares of HUTCHMED from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, August 1st.

HUTCHMED Stock Up 1.3 %

Shares of HUTCHMED stock opened at $18.62 on Monday. The company’s 50-day moving average price is $18.69 and its 200-day moving average price is $18.69. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.81 and a quick ratio of 2.68. HUTCHMED has a 12-month low of $11.93 and a 12-month high of $21.92.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Blue Trust Inc. increased its stake in HUTCHMED by 638.2% in the third quarter. Blue Trust Inc. now owns 3,536 shares of the company’s stock valued at $69,000 after acquiring an additional 3,057 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of HUTCHMED by 63.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,966 shares of the company’s stock valued at $117,000 after purchasing an additional 2,321 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of HUTCHMED by 8.1% during the 2nd quarter. Rhumbline Advisers now owns 7,553 shares of the company’s stock valued at $129,000 after buying an additional 564 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in HUTCHMED in the 2nd quarter worth approximately $213,000. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in HUTCHMED by 9.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,216 shares of the company’s stock worth $226,000 after buying an additional 1,168 shares in the last quarter. 8.82% of the stock is currently owned by institutional investors.

About HUTCHMED

HUTCHMED (China) Limited, together with its subsidiaries, discovers, develops, and commercializes targeted therapeutics and immunotherapies for cancer and immunological diseases in Hong Kong and internationally. The company develops Savolitinib for the treatment of non-small cell lung cancer (NSCLC), papillary renal cell carcinoma (RCC), and gastric cancer (GC); and Fruquintinib, an inhibitor for colorectal cancer (CRC), breast cancer, gastric cancer, microsatellite stable-CRC endometrial cancer (EMC), NSCLC, RCC, gastrointestinal, cervical, and solid tumors.