HUTCHMED (NASDAQ:HCM) Sees Strong Trading Volume – What’s Next?

HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM) saw unusually-strong trading volume on Monday . Approximately 36,049 shares were traded during mid-day trading, a decline of 27% from the previous session’s volume of 49,466 shares.The stock last traded at $13.6330 and had previously closed at $12.82.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HCM. Morgan Stanley set a $13.60 target price on shares of HUTCHMED in a research report on Thursday, May 28th. Daiwa Securities Group upgraded shares of HUTCHMED from a “hold” rating to a “buy” rating in a research report on Thursday, September 3rd. HSBC upgraded shares of HUTCHMED from a “hold” rating to a “buy” rating in a research note on Tuesday, September 8th. Wall Street Zen upgraded shares of HUTCHMED from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings cut shares of HUTCHMED from a “hold (c-)” rating to a “sell (d)” rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.87.

HUTCHMED Price Performance

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 company has a 50 day moving average price of $12.10 and a 200 day moving average price of $12.64.

HUTCHMED (NASDAQ:HCM) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.09). The company had revenue of $139.14 million for the quarter, compared to analysts’ expectations of $304.16 million. As a group, sell-side analysts anticipate that HUTCHMED will post 0.23 EPS for the current fiscal year.

Institutional Investors Weigh In On HUTCHMED

Hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC acquired a new position in HUTCHMED during the 1st quarter worth approximately $365,000. XY Capital Ltd lifted its holdings in shares of HUTCHMED by 9.2% in the 4th quarter. XY Capital Ltd now owns 57,610 shares of the company’s stock valued at $768,000 after buying an additional 4,853 shares during the period. Finally, Amundi boosted its stake in shares of HUTCHMED by 4.0% in the first quarter. Amundi now owns 232,246 shares of the company’s stock valued at $3,474,000 after buying an additional 8,916 shares in the last quarter. Institutional investors and hedge funds own 8.82% of the company’s stock.

HUTCHMED Company Profile

HUTCHMED (NASDAQ:HCM) is a biopharmaceutical company focused on discovering, developing and commercializing medicines for cancer and other serious diseases. The company combines drug research and development capabilities with commercial operations in China and international markets.

HUTCHMED’s oncology portfolio includes fruquintinib, marketed in China as Elunate and in the United States as Fruzaqla for certain patients with metastatic colorectal cancer. The company also develops other targeted therapies, including savolitinib, a MET tyrosine kinase inhibitor, and surufatinib, an angiogenesis and immunomodulatory therapy.