Posted by Defense World Staff on Apr 8th, 2024
HUTCHMED (China) Limited (NASDAQ:HCM – Free Report) – Trinity Delta raised their FY2024 earnings per share estimates for shares of HUTCHMED in a note issued to investors on Wednesday, April 3rd. Trinity Delta analyst L. Gregorek now forecasts that the company will earn ($0.71) per share for the year, up from their previous estimate of ($0.82). The consensus estimate for HUTCHMED’s current full-year earnings is ($0.45) per share.
Other analysts have also issued research reports about the company. StockNews.com upgraded HUTCHMED from a “hold” rating to a “buy” rating in a research note on Wednesday, March 27th. Cantor Fitzgerald reiterated an “overweight” rating on shares of HUTCHMED in a research note on Friday, January 12th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, HUTCHMED currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.70.
Check Out Our Latest Stock Report on HCM
HUTCHMED Trading Down 3.0 %
HCM stock opened at $16.36 on Monday. The company has a current ratio of 2.72, a quick ratio of 2.60 and a debt-to-equity ratio of 0.06. The business’s fifty day simple moving average is $15.26 and its two-hundred day simple moving average is $16.69. HUTCHMED has a twelve month low of $10.68 and a twelve month high of $20.73.
Hedge Funds Weigh In On HUTCHMED
Several institutional investors have recently made changes to their positions in HCM. Goldman Sachs Group Inc. grew its stake in HUTCHMED by 15.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 475,370 shares of the company’s stock valued at $8,609,000 after purchasing an additional 62,762 shares during the last quarter. FIL Ltd grew its stake in HUTCHMED by 6.2% in the fourth quarter. FIL Ltd now owns 75,993 shares of the company’s stock valued at $1,376,000 after purchasing an additional 4,452 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in HUTCHMED in the fourth quarter valued at about $406,000. Sei Investments Co. purchased a new position in HUTCHMED in the fourth quarter valued at about $197,000. Finally, Envestnet Asset Management Inc. purchased a new position in HUTCHMED in the fourth quarter valued at about $274,000. Hedge funds and other institutional investors own 8.82% of the company’s stock.
HUTCHMED Company Profile
HUTCHMED (China) Limited, together with its subsidiaries, discovers, develops, and commercializes targeted therapeutics and immunotherapies for cancer and immunological diseases in Hong Kong and internationally. The company develops Savolitinib for the treatment of non-small cell lung cancer (NSCLC), papillary renal cell carcinoma (RCC), and gastric cancer (GC); and Fruquintinib, an inhibitor for colorectal cancer (CRC), breast cancer, gastric cancer, microsatellite stable-CRC endometrial cancer (EMC), NSCLC, RCC, gastrointestinal, cervical, and solid tumors.
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