HUTCHMED (China) Limited (NASDAQ:HCM) to Post FY2024 Earnings of ($0.71) Per Share, Trinity Delta Forecasts

HUTCHMED (China) Limited (NASDAQ:HCM) – Stock analysts at Trinity Delta increased their FY2024 earnings per share estimates for HUTCHMED in a research report issued to clients and investors on Wednesday, April 3rd. Trinity Delta analyst L. Gregorek now expects that the company will post earnings per share of ($0.71) for the year, up from their prior forecast of ($0.82). The consensus estimate for HUTCHMED’s current full-year earnings is ($0.45) per share.

Other analysts have also issued reports about the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of HUTCHMED in a research report on Friday, January 12th. StockNews.com upgraded HUTCHMED from a “hold” rating to a “buy” rating in a report on Wednesday, March 27th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, HUTCHMED presently has a consensus rating of “Moderate Buy” and an average price target of $29.70.

HUTCHMED Price Performance

Shares of HCM stock opened at $16.87 on Monday. The stock has a 50-day moving average price of $15.33 and a 200 day moving average price of $16.71. The company has a current ratio of 2.72, a quick ratio of 2.60 and a debt-to-equity ratio of 0.06. HUTCHMED has a 12 month low of $10.68 and a 12 month high of $20.73.

Institutional Investors Weigh In On HUTCHMED

Several institutional investors have recently bought and sold shares of HCM. E Fund Management Hong Kong Co. Ltd. lifted its stake in HUTCHMED by 133.9% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 50,214 shares of the company’s stock valued at $859,000 after acquiring an additional 28,749 shares in the last quarter. Raymond James & Associates lifted its stake in HUTCHMED by 9.5% in the 1st quarter. Raymond James & Associates now owns 50,288 shares of the company’s stock valued at $951,000 after acquiring an additional 4,351 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in HUTCHMED by 1.9% in the 1st quarter. Bank of New York Mellon Corp now owns 141,157 shares of the company’s stock valued at $2,671,000 after acquiring an additional 2,603 shares in the last quarter. US Bancorp DE lifted its stake in HUTCHMED by 270.9% in the 1st quarter. US Bancorp DE now owns 3,687 shares of the company’s stock valued at $70,000 after acquiring an additional 2,693 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its position in shares of HUTCHMED by 125.5% during the 1st quarter. Panagora Asset Management Inc. now owns 26,396 shares of the company’s stock worth $499,000 after purchasing an additional 14,689 shares during the last quarter. Institutional investors own 8.82% of the company’s stock.

About HUTCHMED

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.