HUTCHMED (NASDAQ:HCM) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of HUTCHMED (NASDAQ:HCM) from a hold rating to a buy rating in a research note published on Monday.

Separately, The Goldman Sachs Group increased their target price on HUTCHMED from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st.

HUTCHMED Stock Performance

NASDAQ:HCM opened at $18.70 on Monday. The firm’s fifty day simple moving average is $18.73 and its 200 day simple moving average is $18.69. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.68 and a current ratio of 2.81. HUTCHMED has a twelve month low of $11.93 and a twelve month high of $21.92.

Hedge Funds Weigh In On HUTCHMED

A number of hedge funds have recently bought and sold shares of HCM. Blue Trust Inc. grew its position in shares of HUTCHMED by 638.2% in the 3rd quarter. Blue Trust Inc. now owns 3,536 shares of the company’s stock worth $69,000 after acquiring an additional 3,057 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in HUTCHMED by 63.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 5,966 shares of the company’s stock worth $117,000 after purchasing an additional 2,321 shares during the period. Rhumbline Advisers increased its stake in HUTCHMED by 8.1% during the second quarter. Rhumbline Advisers now owns 7,553 shares of the company’s stock valued at $129,000 after purchasing an additional 564 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of HUTCHMED in the 2nd quarter worth about $213,000. Finally, Vanguard Personalized Indexing Management LLC raised its stake in HUTCHMED by 9.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,216 shares of the company’s stock worth $226,000 after acquiring an additional 1,168 shares during the period. 8.82% of the stock is currently owned by institutional investors and hedge funds.

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.