HUTCHMED (NASDAQ:HCM) Stock Price Crosses Above Fifty Day Moving Average – What’s Next?

Shares of HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM) passed above its 50-day moving average during trading on Thursday . The stock has a 50-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.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Bank of America lowered their price objective on shares of HUTCHMED from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. Wall Street Zen raised HUTCHMED from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings downgraded HUTCHMED from a “hold (c-)” rating to a “sell (d)” rating in a research report on Friday, July 31st. Morgan Stanley set a $13.60 price target on HUTCHMED in a research note on Thursday, May 28th. Finally, The Goldman Sachs Group reduced their price objective on HUTCHMED from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $14.87.

HUTCHMED Price Performance

The company has a quick ratio of 5.50, a current ratio of 5.64 and a debt-to-equity ratio of 0.06. The stock’s fifty day moving average price is $11.02 and its two-hundred day moving average price is $13.09.

HUTCHMED (NASDAQ:HCM) last announced its quarterly earnings data 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 firm had revenue of $139.14 million for the quarter, compared to the consensus estimate of $304.16 million. Equities research analysts expect that HUTCHMED will post 0.23 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. increased its holdings 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 buying an additional 7,342 shares during the period. Jane Street Group LLC boosted its holdings in HUTCHMED by 128.0% during the 1st quarter. Jane Street Group LLC now owns 222,241 shares of the company’s stock valued at $3,343,000 after acquiring an additional 124,771 shares during the period. Ameriprise Financial Inc. grew its position in HUTCHMED by 4.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 15,519 shares of the company’s stock worth $234,000 after acquiring an additional 698 shares during the last quarter. Bank of America Corp DE grew its position in HUTCHMED by 17.3% during the 2nd quarter. Bank of America Corp DE now owns 20,582 shares of the company’s stock worth $310,000 after acquiring 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 worth $377,000 after purchasing an additional 4,116 shares during the period. 8.82% of the stock is owned by 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.