The Goldman Sachs Group Lowers HUTCHMED (NASDAQ:HCM) Price Target to $14.00

HUTCHMED (NASDAQ:HCMGet Rating) had its price objective decreased by analysts at The Goldman Sachs Group from $16.00 to $14.00 in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 13.45% from the company’s previous close.

Other equities analysts have also issued reports about the company. StockNews.com upgraded HUTCHMED from a “sell” rating to a “hold” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft lowered HUTCHMED from a “buy” rating to a “hold” rating in a research report on Wednesday, May 4th.

HUTCHMED Trading Up 3.8 %

Shares of HCM stock opened at $12.34 on Tuesday. The stock has a 50-day moving average price of $11.97 and a 200 day moving average price of $17.16. HUTCHMED has a 12 month low of $8.40 and a 12 month high of $43.18.

Hedge Funds Weigh In On HUTCHMED

Several institutional investors and hedge funds have recently modified their holdings of the business. Quadrant Capital Group LLC grew its position in shares of HUTCHMED by 63.4% in the 4th quarter. Quadrant Capital Group LLC now owns 1,106 shares of the company’s stock valued at $39,000 after purchasing an additional 429 shares during the period. abrdn plc lifted its stake in HUTCHMED by 7.9% in the 4th quarter. abrdn plc now owns 8,084 shares of the company’s stock valued at $284,000 after acquiring an additional 595 shares in the last quarter. First Republic Investment Management Inc. lifted its stake in HUTCHMED by 3.4% in the 4th quarter. First Republic Investment Management Inc. now owns 20,232 shares of the company’s stock valued at $710,000 after acquiring an additional 664 shares in the last quarter. Natixis Advisors L.P. lifted its stake in HUTCHMED by 5.5% in the 4th quarter. Natixis Advisors L.P. now owns 16,794 shares of the company’s stock valued at $589,000 after acquiring an additional 879 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in HUTCHMED by 5.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,767 shares of the company’s stock valued at $317,000 after acquiring an additional 892 shares in the last quarter. 31.03% of the stock is currently owned by institutional investors and hedge funds.

HUTCHMED Company Profile

(Get Rating)

HUTCHMED (China) Limited discovers, develops, and commercializes targeted therapeutics and immunotherapies for cancer and immunological diseases in HongKong and internationally. It operates in Oncology/Immunology and Other Ventures segments. The company develops Savolitinib, an inhibitor for non-small cell lung cancer (NSCLC), papillary and renal cell carcinoma, colorectal cancer (CRC), and gastric cancer (GC); and Fruquintinib, an inhibitor for CRC, breast cancer, GC, endometrial cancer (EMC), NSCLC, hepatocellular carcinoma, and gastrointestinal and solid tumors.

Read More

Want More Great Investing Ideas?

Receive News & Ratings for HUTCHMED Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HUTCHMED and related companies with MarketBeat.com's FREE daily email newsletter.