The Zacks: Analysts Set $37.33 Target Price for Hutchison China MediTech Limited (HCM)

The Zacks: Analysts Set $37.33 Target Price for Hutchison China MediTech Limited (HCM)

Hutchison China MediTech Limited (NASDAQ:HCM) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the three analysts that provide coverage for the company, Zacks Investment Research reports. Three analysts have rated the stock with a strong buy rating.

Brokerages have set a one year consensus price objective of $37.33 for the company, according to Zacks. Zacks has also given Hutchison China MediTech Limited an industry rank of 79 out of 265 based on the ratings given to its competitors.

A number of equities analysts recently weighed in on HCM shares. BidaskClub raised shares of Hutchison China MediTech Limited from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 5th. Canaccord Genuity set a $30.00 target price on shares of Hutchison China MediTech Limited and gave the stock a “buy” rating in a research note on Monday, July 31st.

Shares of Hutchison China MediTech Limited (NASDAQ:HCM) traded up 5.02% during mid-day trading on Wednesday, hitting $29.08. The stock had a trading volume of 94,427 shares. The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of 274.34 and a beta of -1.89. Hutchison China MediTech Limited has a 12-month low of $11.40 and a 12-month high of $32.03. The stock’s 50-day moving average price is $27.78 and its 200-day moving average price is $27.78.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its stake in shares of Hutchison China MediTech Limited by 7.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 103,799 shares of the company’s stock worth $2,420,000 after buying an additional 7,400 shares during the last quarter. Baillie Gifford & Co. boosted its stake in shares of Hutchison China MediTech Limited by 6.1% during the 2nd quarter. Baillie Gifford & Co. now owns 167,547 shares of the company’s stock worth $3,905,000 after buying an additional 9,655 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in shares of Hutchison China MediTech Limited during the 2nd quarter worth about $5,102,000. Renaissance Technologies LLC acquired a new position in shares of Hutchison China MediTech Limited during the 1st quarter worth about $618,000. Finally, Wellington Management Group LLP boosted its stake in shares of Hutchison China MediTech Limited by 7.4% during the 1st quarter. Wellington Management Group LLP now owns 510,826 shares of the company’s stock worth $10,190,000 after buying an additional 35,053 shares during the last quarter. 4.06% of the stock is owned by hedge funds and other institutional investors.

Hutchison China MediTech Limited Company Profile

Hutchison China MediTech Limited (Chi-Med) is a China-based, globally-focused healthcare group. The Company researches, develops, manufactures and sells pharmaceuticals and health-related consumer products. Its Innovation Platform focuses on discovering and developing therapeutics in oncology and autoimmune diseases for the global market.

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