HUTCHMED (NASDAQ:HCM) Price Target Raised to $19.00

HUTCHMED (NASDAQ:HCM) had its target price boosted by The Goldman Sachs Group from $17.00 to $19.00 in a report issued on Thursday morning, Benzinga reports. They currently have a neutral rating on the stock.

Separately, StockNews.com downgraded shares of HUTCHMED from a buy rating to a hold rating in a research note on Thursday, July 18th.

HUTCHMED Trading Up 0.6 %

Shares of NASDAQ:HCM traded up $0.10 during midday trading on Thursday, hitting $18.23. 158,515 shares of the stock traded hands, compared to its average volume of 133,900. HUTCHMED has a one year low of $11.93 and a one year high of $21.92. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.60 and a current ratio of 2.81. The business’s 50 day moving average is $18.20 and its two-hundred day moving average is $17.13.

Institutional Investors Weigh In On HUTCHMED

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HCM. China Universal Asset Management Co. Ltd. lifted its stake in HUTCHMED by 353.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,593 shares of the company’s stock valued at $65,000 after acquiring an additional 2,801 shares during the period. Baillie Gifford & Co. increased its holdings in HUTCHMED by 7.2% in the 4th quarter. Baillie Gifford & Co. now owns 144,969 shares of the company’s stock worth $2,625,000 after acquiring an additional 9,694 shares in the last quarter. Hsbc Holdings PLC increased its holdings in HUTCHMED by 821.2% in the 4th quarter. Hsbc Holdings PLC now owns 206,544 shares of the company’s stock worth $3,720,000 after acquiring an additional 184,123 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in HUTCHMED by 2.5% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 57,010 shares of the company’s stock worth $958,000 after acquiring an additional 1,388 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in HUTCHMED by 54.9% in the 1st quarter. BNP Paribas Financial Markets now owns 42,926 shares of the company’s stock worth $721,000 after acquiring an additional 15,221 shares in the last quarter. Institutional investors own 8.82% of the company’s stock.

About HUTCHMED

HUTCHMED (China) Limited, together with its subsidiaries, discovers, develops, and commercializes targeted therapeutics and immunotherapies for cancer and immunological diseases in Hong Kong and internationally. The company develops Savolitinib for the treatment of non-small cell lung cancer (NSCLC), papillary renal cell carcinoma (RCC), and gastric cancer (GC); and Fruquintinib, an inhibitor for colorectal cancer (CRC), breast cancer, gastric cancer, microsatellite stable-CRC endometrial cancer (EMC), NSCLC, RCC, gastrointestinal, cervical, and solid tumors.