HUTCHMED (NASDAQ:HCM) Shares Gap Up – Time to Buy?

Shares of HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM) gapped up prior to trading on Monday . The stock had previously closed at $13.81, but opened at $14.40. HUTCHMED shares last traded at $14.2460, with a volume of 15,630 shares.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HCM. Weiss Ratings reiterated a “hold (c)” rating on shares of HUTCHMED in a research note on Thursday, January 22nd. Bank of America dropped their price target on shares of HUTCHMED from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, March 10th. Wall Street Zen cut shares of HUTCHMED from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Jefferies Financial Group upgraded shares of HUTCHMED to a “strong-buy” rating in a research note on Monday, January 19th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $16.88.

HUTCHMED Stock Up 3.3%

The company has a current ratio of 4.96, a quick ratio of 4.83 and a debt-to-equity ratio of 0.05. The business’s fifty day simple moving average is $14.64 and its 200-day simple moving average is $14.80.

HUTCHMED (NASDAQ:HCM) last issued its earnings results on Friday, March 6th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($2.49). The company had revenue of $135.42 million for the quarter, compared to analysts’ expectations of $290.50 million. Analysts forecast that HUTCHMED will post 0.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Blue Trust Inc. boosted its stake 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 during the last quarter. Ameriprise Financial Inc. increased its stake in HUTCHMED by 4.7% in 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 during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings 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 boosted its position 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 grew its holdings in shares of HUTCHMED by 34.2% in the third quarter. Dimensional Fund Advisors LP now owns 21,721 shares of the company’s stock valued at $342,000 after purchasing an additional 5,538 shares in the last quarter. Hedge funds and other institutional investors own 8.82% of the company’s stock.

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.