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Shares of HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM – Get Free Report) saw an uptick in trading volume on Friday . 30,445 shares changed hands during trading, a decline of 22% from the previous session’s volume of 39,123 shares.The stock last traded at $10.87 and had previously closed at $11.17.
Analyst Ratings Changes
Several research firms have recently commented on HCM. Weiss Ratings lowered HUTCHMED from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 1st. Wall Street Zen lowered HUTCHMED from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Morgan Stanley set a $13.60 price objective on HUTCHMED in a report on Thursday, May 28th. Finally, Bank of America decreased their price objective on HUTCHMED from $21.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.80.
HUTCHMED Price Performance
HUTCHMED (NASDAQ:HCM – Get Free Report) last announced its quarterly earnings data on Friday, March 6th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $2.50 by ($2.49). The firm had revenue of $135.42 million during the quarter, compared to the consensus estimate of $290.50 million. On average, equities research analysts expect that HUTCHMED will post 0.4 EPS for the current year.
Institutional Trading of HUTCHMED
A number of hedge funds have recently modified their holdings of HCM. Ameriprise Financial Inc. raised its holdings in shares of HUTCHMED by 4.7% during the second 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. Bank of America Corp DE increased its position in HUTCHMED by 5.9% during the third quarter. Bank of America Corp DE now owns 21,791 shares of the company’s stock worth $343,000 after buying an additional 1,209 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in HUTCHMED by 3.3% during the fourth quarter. Crossmark Global Holdings Inc. now owns 52,476 shares of the company’s stock worth $700,000 after buying an additional 1,680 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in HUTCHMED by 12.1% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 17,363 shares of the company’s stock worth $273,000 after buying an additional 1,873 shares during the last quarter. Finally, State Street Corp increased its position in HUTCHMED by 1.2% during the fourth quarter. State Street Corp now owns 321,305 shares of the company’s stock worth $4,283,000 after buying an additional 3,801 shares during the last quarter. Hedge funds and other institutional investors own 8.82% of the company’s stock.
About HUTCHMED
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.
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