Bank of America Cuts HUTCHMED (NASDAQ:HCM) Price Target to $20.00

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

A number of other brokerages also recently commented on HCM. Weiss Ratings restated a “hold (c)” rating on shares of HUTCHMED in a research note on Thursday, January 22nd. Jefferies Financial Group raised HUTCHMED to a “strong-buy” rating in a research note on Monday, January 19th. Finally, Wall Street Zen lowered HUTCHMED from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $16.88.

HUTCHMED Trading Down 2.6%

Shares of NASDAQ:HCM opened at $14.19 on Tuesday. The firm has a fifty day moving average of $14.77 and a two-hundred day moving average of $14.92. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.96 and a quick ratio of 4.83. HUTCHMED has a 12-month low of $11.51 and a 12-month high of $19.50.

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

Institutional Investors Weigh In On HUTCHMED

Large investors have recently bought and sold shares of the business. Blue Trust Inc. raised its holdings in HUTCHMED by 131.5% during the fourth quarter. Blue Trust Inc. now owns 7,708 shares of the company’s stock valued at $103,000 after buying an additional 4,378 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of HUTCHMED by 4.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 15,519 shares of the company’s stock worth $234,000 after acquiring an additional 698 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of HUTCHMED by 12.1% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 17,363 shares of the company’s stock worth $273,000 after acquiring an additional 1,873 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of HUTCHMED by 17.3% during the 2nd quarter. Bank of America Corp DE now owns 20,582 shares of the company’s stock valued at $310,000 after acquiring an additional 3,035 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of HUTCHMED by 34.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 21,721 shares of the company’s stock valued at $342,000 after acquiring an additional 5,538 shares in 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.