HUTCHMED (NASDAQ:HCM) Stock Price Crosses Above 50 Day Moving Average – Here’s What Happened

HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCMGet Free Report) shares passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $11.00 and traded as high as $11.88. HUTCHMED shares last traded at $11.83, with a volume of 31,527 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on HCM shares. The Goldman Sachs Group lowered their target price on HUTCHMED from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, July 23rd. Weiss Ratings cut shares of HUTCHMED from a “hold (c-)” rating to a “sell (d)” rating in a report on Friday, July 31st. Bank of America lowered their price objective on shares of HUTCHMED from $20.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. Finally, Morgan Stanley set a $13.60 price objective on shares of HUTCHMED in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $14.87.

Get Our Latest Report on HCM

HUTCHMED Stock Up 2.4%

The company has a current ratio of 5.64, a quick ratio of 5.50 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average price of $11.00 and a two-hundred day moving average price of $13.10.

HUTCHMED (NASDAQ:HCMGet Free Report) last announced its earnings results on Thursday, July 30th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.09). The company had revenue of $139.14 million during the quarter, compared to analyst estimates of $304.16 million. As a group, equities research analysts anticipate that HUTCHMED will post 0.23 EPS for the current fiscal year.

Institutional Trading of HUTCHMED

A number of hedge funds and other institutional investors have recently made changes to their positions in HCM. Goldman Sachs Group Inc. lifted its position in shares of HUTCHMED by 8.5% in the first quarter. Goldman Sachs Group Inc. now owns 93,919 shares of the company’s stock worth $1,413,000 after purchasing an additional 7,342 shares in the last quarter. Jane Street Group LLC grew its position in 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 in the last quarter. Ameriprise Financial Inc. grew its position in HUTCHMED by 4.7% in the second quarter. Ameriprise Financial Inc. now owns 15,519 shares of the company’s stock valued at $234,000 after purchasing an additional 698 shares in the last quarter. Bank of America Corp DE increased its stake in HUTCHMED by 17.3% in the 2nd quarter. Bank of America Corp DE now owns 20,582 shares of the company’s stock valued at $310,000 after buying an additional 3,035 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in HUTCHMED by 19.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 25,046 shares of the company’s stock valued at $377,000 after buying an additional 4,116 shares during the last quarter. 8.82% of the stock is currently owned by institutional investors and hedge funds.

HUTCHMED Company Profile

(Get Free Report)

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.

Further Reading

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