HUTCHISON CHINA/S (NASDAQ:HCM) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of HUTCHISON CHINA/S (NASDAQ:HCM) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning, Zacks.com reports. They currently have $24.00 price objective on the stock.

According to Zacks, “Hutchison China MediTech Limited researches, develops, manufactures and sells pharmaceuticals and health-related consumer products. The Company offers drugs for oncology and autoimmune diseases treatment. Hutchison China MediTech Limited is based in Hong Kong. “

Several other analysts also recently weighed in on HCM. Macquarie assumed coverage on shares of Baozun in a report on Friday, July 5th. They issued a buy rating and a $60.00 target price on the stock. HSBC assumed coverage on shares of HUTCHISON CHINA/S in a report on Wednesday, March 27th. They issued a buy rating on the stock. Finally, BidaskClub downgraded shares of Waterstone Financial from a hold rating to a sell rating in a report on Friday, June 21st. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $25.41.

Shares of NASDAQ:HCM opened at $22.18 on Wednesday. The company has a 50-day moving average price of $25.98. The company has a current ratio of 4.33, a quick ratio of 4.19 and a debt-to-equity ratio of 0.06. HUTCHISON CHINA/S has a fifty-two week low of $20.81 and a fifty-two week high of $39.68.

A number of hedge funds have recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale boosted its holdings in HUTCHISON CHINA/S by 1.9% during the first quarter. DekaBank Deutsche Girozentrale now owns 28,500 shares of the company’s stock worth $840,000 after buying an additional 530 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in HUTCHISON CHINA/S by 748.9% during the first quarter. PNC Financial Services Group Inc. now owns 1,146 shares of the company’s stock worth $36,000 after buying an additional 1,011 shares in the last quarter. Krane Funds Advisors LLC boosted its holdings in HUTCHISON CHINA/S by 6.4% during the first quarter. Krane Funds Advisors LLC now owns 18,414 shares of the company’s stock worth $563,000 after buying an additional 1,109 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in HUTCHISON CHINA/S by 0.6% during the fourth quarter. Baillie Gifford & Co. now owns 198,959 shares of the company’s stock worth $4,594,000 after buying an additional 1,213 shares in the last quarter. Finally, Macquarie Group Ltd. purchased a new stake in HUTCHISON CHINA/S during the fourth quarter worth about $46,000. 21.01% of the stock is currently owned by hedge funds and other institutional investors.

HUTCHISON CHINA/S Company Profile

Hutchison China MediTech Limited, a commercial-stage biopharmaceutical company, engages in discovery, development, and commercialization of targeted therapeutics and immunotherapies for oncology and immunological diseases in the People's Republic of China and Hong Kong. The company operates through Innovation Platform and Commercial Platform segments.

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