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HUTCHMED (NASDAQ:HCM – Get Free Report) had its price target cut by equities researchers at Bank of America from $20.00 to $17.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price target would suggest a potential upside of 51.66% from the stock’s current price.
A number of other analysts have also recently commented on the stock. Morgan Stanley set a $13.60 target price on shares of HUTCHMED in a research note on Thursday, May 28th. Weiss Ratings lowered shares of HUTCHMED from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $15.30.
HUTCHMED Trading Down 3.8%
Hedge Funds Weigh In On HUTCHMED
A number of institutional investors have recently bought and sold shares of HCM. Blue Trust Inc. raised its position in shares of HUTCHMED by 131.5% in the fourth quarter. Blue Trust Inc. now owns 7,708 shares of the company’s stock worth $103,000 after acquiring an additional 4,378 shares during the period. Ameriprise Financial Inc. boosted its position in 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 purchasing an additional 698 shares in the last quarter. Bank of America Corp DE grew its holdings in HUTCHMED by 17.3% in the second quarter. Bank of America Corp DE now owns 20,582 shares of the company’s stock valued at $310,000 after purchasing an additional 3,035 shares during the period. Dimensional Fund Advisors LP grew its holdings in 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 during the period. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of HUTCHMED in the first quarter valued at approximately $365,000. 8.82% of the stock is owned by hedge funds and other institutional investors.
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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