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 report published on Wednesday, Zacks.com reports. They currently have $24.00 price target 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 brokerages have also recently commented on HCM. BidaskClub cut Waterstone Financial from a hold rating to a sell rating in a report on Friday, June 21st. Macquarie assumed coverage on Baozun in a research note on Friday, July 5th. They set a buy rating and a $60.00 price target for the company. Finally, HSBC initiated coverage on HUTCHISON CHINA/S in a research report on Wednesday, March 27th. They set a buy rating on the stock. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Buy and an average target price of $25.41.

HUTCHISON CHINA/S stock opened at $22.18 on Wednesday. The company has a 50 day moving average of $25.98. The company has a quick ratio of 4.19, a current ratio of 4.33 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $3.02 billion, a PE ratio of -38.91 and a beta of 0.70. HUTCHISON CHINA/S has a 12-month low of $20.81 and a 12-month high of $39.68.

A number of institutional investors have recently modified their holdings of HCM. BlackRock Inc. bought a new position in shares of HUTCHISON CHINA/S in the fourth quarter valued at $72,560,000. BNP Paribas Arbitrage SA boosted its position in shares of HUTCHISON CHINA/S by 440.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,067,394 shares of the company’s stock valued at $63,221,000 after purchasing an additional 1,684,645 shares during the period. JPMorgan Chase & Co. increased its stake in HUTCHISON CHINA/S by 9.3% in the 1st quarter. JPMorgan Chase & Co. now owns 663,615 shares of the company’s stock worth $20,293,000 after purchasing an additional 56,288 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in HUTCHISON CHINA/S by 14.2% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 435,528 shares of the company’s stock worth $13,318,000 after purchasing an additional 54,002 shares in the last quarter. Finally, Baillie Gifford & Co. increased its stake in HUTCHISON CHINA/S by 11.0% in the 1st quarter. Baillie Gifford & Co. now owns 220,896 shares of the company’s stock worth $6,755,000 after purchasing an additional 21,937 shares in the last quarter. Hedge funds and other institutional investors own 21.01% of the company’s stock.

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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