Brokerages Set HUTCHMED (China) Limited (NASDAQ:HCM) Target Price at $45.75

HUTCHMED (China) Limited (NASDAQ:HCM) has been assigned an average rating of “Buy” from the six analysts that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $45.75.

A number of research firms recently issued reports on HCM. Cantor Fitzgerald upped their price objective on shares of HUTCHMED from $40.00 to $45.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 13th. Zacks Investment Research upgraded shares of HUTCHMED from a “sell” rating to a “hold” rating in a research report on Tuesday, September 14th. The Goldman Sachs Group cut shares of HUTCHMED from a “buy” rating to a “neutral” rating and set a $46.00 price objective for the company. in a research report on Wednesday, September 22nd. Finally, Jefferies Financial Group began coverage on shares of HUTCHMED in a research note on Tuesday, August 3rd. They set a “buy” rating and a $52.00 target price on the stock.

NASDAQ HCM traded up $0.47 during trading on Wednesday, reaching $37.03. The company’s stock had a trading volume of 1,520 shares, compared to its average volume of 301,398. The firm has a 50 day moving average price of $39.91 and a 200 day moving average price of $33.48. HUTCHMED has a 12 month low of $23.67 and a 12 month high of $43.94. The company has a current ratio of 4.41, a quick ratio of 4.30 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $6.40 billion, a price-to-earnings ratio of -40.62 and a beta of 1.08.

Several hedge funds have recently made changes to their positions in the company. Virtu Financial LLC purchased a new stake in shares of HUTCHMED in the second quarter valued at about $818,000. Parametric Portfolio Associates LLC increased its holdings in HUTCHMED by 35.3% during the second quarter. Parametric Portfolio Associates LLC now owns 86,218 shares of the company’s stock worth $3,386,000 after buying an additional 22,476 shares during the last quarter. MARSHALL WACE ASIA Ltd increased its holdings in HUTCHMED by 241.8% during the second quarter. MARSHALL WACE ASIA Ltd now owns 33,243 shares of the company’s stock worth $1,305,000 after buying an additional 23,516 shares during the last quarter. Invesco Ltd. purchased a new stake in HUTCHMED during the second quarter worth about $455,000. Finally, Millennium Management LLC increased its holdings in HUTCHMED by 508.0% during the second quarter. Millennium Management LLC now owns 286,690 shares of the company’s stock worth $11,258,000 after buying an additional 239,538 shares during the last quarter. Institutional investors own 26.60% of the company’s stock.

About HUTCHMED

HUTCHMED (China) Limited discovers, develops, and commercializes targeted therapeutics and immunotherapies for cancer and immunological diseases worldwide. It operates in two segments, Oncology/Immunology and Other Ventures. It manufactures, distributes, markets, and sells prescription and over-the-counter pharmaceutical, and consumer health products.

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Analyst Recommendations for HUTCHMED (NASDAQ:HCM)

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