Zacks Investment Research upgraded shares of HUTCHISON CHINA/S (NASDAQ:HCM) from a hold rating to a buy rating in a report issued on Wednesday, Zacks.com reports. The brokerage currently has $24.00 target price 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 commented on HCM. Macquarie began coverage on shares of Baozun in a research report on Friday, July 5th. They set a buy rating and a $60.00 price target for the company. HSBC began coverage on shares of HUTCHISON CHINA/S in a research report on Wednesday, March 27th. They set a buy rating for the company. Finally, BidaskClub lowered shares of Waterstone Financial from a hold rating to a sell rating in a research report on Friday, June 21st. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $25.41.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in HCM. BlackRock Inc. purchased a new stake in HUTCHISON CHINA/S during the fourth quarter worth approximately $72,560,000. BNP Paribas Arbitrage SA grew its stake in HUTCHISON CHINA/S by 440.1% during the first quarter. BNP Paribas Arbitrage SA now owns 2,067,394 shares of the company’s stock worth $63,221,000 after buying an additional 1,684,645 shares during the period. Northern Trust Corp purchased a new stake in HUTCHISON CHINA/S during the fourth quarter worth approximately $5,064,000. Bank of America Corp DE grew its stake in HUTCHISON CHINA/S by 4,660.7% during the fourth quarter. Bank of America Corp DE now owns 193,759 shares of the company’s stock worth $4,474,000 after buying an additional 189,689 shares during the period. Finally, Legal & General Group Plc purchased a new stake in HUTCHISON CHINA/S during the fourth quarter worth approximately $4,082,000. Institutional investors own 21.01% of the company’s stock.
About HUTCHISON CHINA/S
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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