HUTCHMED (NASDAQ:HCM) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of HUTCHMED (NASDAQ:HCM) from a buy rating to a hold rating in a research note released on Saturday morning.

A number of other analysts also recently issued reports on HCM. Bank of America lifted their price objective on shares of HUTCHMED from $27.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, July 22nd. Morgan Stanley lowered shares of HUTCHMED from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $18.00 to $13.75 in a research note on Monday, September 22nd. Weiss Ratings restated a “hold (c)” rating on shares of HUTCHMED in a research note on Wednesday, October 8th. Finally, Zacks Research downgraded HUTCHMED from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 9th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $20.88.

HUTCHMED Price Performance

Shares of NASDAQ:HCM traded down $0.50 during mid-day trading on Friday, reaching $14.95. 14,245 shares of the stock were exchanged, compared to its average volume of 73,080. The stock’s 50 day simple moving average is $15.73 and its 200-day simple moving average is $15.65. HUTCHMED has a one year low of $11.51 and a one year high of $19.50. The company has a quick ratio of 4.51, a current ratio of 4.65 and a debt-to-equity ratio of 0.05.

Hedge Funds Weigh In On HUTCHMED

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HCM. Jane Street Group LLC raised its position in shares of HUTCHMED by 128.0% in the first quarter. Jane Street Group LLC now owns 222,241 shares of the company’s stock valued at $3,343,000 after purchasing an additional 124,771 shares during the period. XY Capital Ltd raised its holdings in HUTCHMED by 142.4% in the 1st quarter. XY Capital Ltd now owns 113,136 shares of the company’s stock valued at $1,702,000 after acquiring an additional 66,460 shares during the period. ABN Amro Investment Solutions acquired a new stake in HUTCHMED during the second quarter worth approximately $962,000. Tema Etfs LLC bought a new stake in shares of HUTCHMED during the second quarter worth approximately $641,000. Finally, Vident Advisory LLC boosted its holdings in shares of HUTCHMED by 78.3% during the first quarter. Vident Advisory LLC now owns 19,728 shares of the company’s stock worth $297,000 after acquiring an additional 8,664 shares during the period. 8.82% of the stock is owned by institutional investors.

HUTCHMED Company Profile

HUTCHMED (China) Ltd. is a holding company, which engages in the research and development, manufacture, and sale of pharmaceuticals and health-oriented consumer products. It operates through the Oncology/Immunology and Other Ventures segments. The Oncology/Immunology segment includes the discovery, development, and commercialization of targeted therapies and immunotherapies for the treatment of cancer and immunological diseases.