HUTCHMED (NASDAQ:HCM) Given New $20.00 Price Target at Bank of America

HUTCHMED (NASDAQ:HCM) had its target price trimmed by Bank of America from $21.00 to $20.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of HUTCHMED from a “buy” rating to a “hold” rating in a research note on Saturday. Jefferies Financial Group raised HUTCHMED to a “strong-buy” rating in a research report on Monday, January 19th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of HUTCHMED in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $16.88.

HUTCHMED Stock Performance

NASDAQ HCM opened at $13.89 on Tuesday. The company has a current ratio of 4.96, a quick ratio of 4.83 and a debt-to-equity ratio of 0.05. HUTCHMED has a fifty-two week low of $11.51 and a fifty-two week high of $19.50. The stock has a 50 day simple moving average of $14.73 and a two-hundred day simple moving average of $14.93.

HUTCHMED (NASDAQ:HCM) last announced its earnings results on Thursday, March 5th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $2.50 by ($2.49). The company had revenue of $135.42 million during the quarter, compared to the consensus estimate of $290.50 million. Research analysts forecast that HUTCHMED will post 0.16 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Jane Street Group LLC grew its holdings in HUTCHMED by 128.0% in 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. UBS Group AG lifted its holdings in shares of HUTCHMED by 112.8% during the third quarter. UBS Group AG now owns 137,000 shares of the company’s stock valued at $2,158,000 after purchasing an additional 72,614 shares during the last quarter. Amundi boosted its position in shares of HUTCHMED by 41.9% in the 3rd quarter. Amundi now owns 223,330 shares of the company’s stock worth $3,620,000 after purchasing an additional 65,898 shares in the last quarter. ABN Amro Investment Solutions bought a new stake in shares of HUTCHMED in the 2nd quarter worth approximately $962,000. Finally, M&G PLC grew its stake in shares of HUTCHMED by 26.7% in the 4th quarter. M&G PLC now owns 259,033 shares of the company’s stock worth $3,367,000 after buying an additional 54,601 shares during the last quarter. 8.82% of the stock is currently owned by institutional investors.

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.