HUTCHMED (NASDAQ:HCM) Stock Passes Above 50 Day Moving Average – Time to Sell?

HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM) shares passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $11.54 and traded as high as $12.44. HUTCHMED shares last traded at $12.12, with a volume of 69,204 shares.

Wall Street Analysts Forecast Growth

HCM has been the subject of several recent analyst reports. Weiss Ratings cut shares of HUTCHMED from a “hold (c-)” rating to a “sell (d)” rating in a report on Friday, July 31st. Wall Street Zen raised shares of HUTCHMED from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Bank of America decreased their price objective on HUTCHMED from $20.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. The Goldman Sachs Group dropped their target price on shares of HUTCHMED from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, July 23rd. Finally, Morgan Stanley set a $13.60 price objective on shares of HUTCHMED in a research report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $14.87.

HUTCHMED Price Performance

The business’s 50 day moving average is $11.57 and its 200 day moving average is $12.75. The company has a current ratio of 5.64, a quick ratio of 5.50 and a debt-to-equity ratio of 0.06.

HUTCHMED (NASDAQ:HCM) last issued its quarterly earnings results 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 company had revenue of $139.14 million during the quarter, compared to analysts’ expectations of $304.16 million. As a group, research analysts expect that HUTCHMED will post 0.23 earnings per share for the current year.

Hedge Funds Weigh In On HUTCHMED

A number of hedge funds and other institutional investors have recently made changes to their positions in HCM. Ameriprise Financial Inc. increased its position in HUTCHMED by 4.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 15,519 shares of the company’s stock valued at $234,000 after purchasing an additional 698 shares during the period. Bank of America Corp DE boosted its stake in shares of HUTCHMED by 5.9% during the third quarter. Bank of America Corp DE now owns 21,791 shares of the company’s stock valued at $343,000 after purchasing an additional 1,209 shares in the last quarter. Crossmark Global Holdings Inc. increased its holdings in HUTCHMED by 3.3% during the fourth quarter. Crossmark Global Holdings Inc. now owns 52,476 shares of the company’s stock valued at $700,000 after buying an additional 1,680 shares during the period. State Street Corp increased its holdings in HUTCHMED by 1.2% during the fourth quarter. State Street Corp now owns 321,305 shares of the company’s stock valued at $4,283,000 after buying an additional 3,801 shares during the period. Finally, Renaissance Technologies LLC raised its stake in HUTCHMED by 3.0% in the fourth quarter. Renaissance Technologies LLC now owns 134,900 shares of the company’s stock worth $1,798,000 after buying an additional 3,900 shares in the last quarter. Institutional investors own 8.82% of the company’s stock.

HUTCHMED Company Profile

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.