Shares of Hutchison China MediTech Limited (NASDAQ:HCM) have been assigned an average broker rating score of 1.00 (Strong Buy) from the three brokers that cover the stock, Zacks Investment Research reports. Three research analysts have rated the stock with a strong buy recommendation.
Analysts have set a 12 month consensus price objective of $37.33 for the company, according to Zacks. Zacks has also assigned Hutchison China MediTech an industry rank of 160 out of 265 based on the ratings given to related companies.
Several analysts recently commented on HCM shares. BidaskClub upgraded Hutchison China MediTech from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. Canaccord Genuity raised their target price on Hutchison China MediTech to $38.00 and gave the company a “buy” rating in a research report on Monday, October 16th.
Hedge funds and other institutional investors have recently modified their holdings of the business. Comerica Bank bought a new position in Hutchison China MediTech during the 3rd quarter valued at $203,000. Perceptive Advisors LLC bought a new position in Hutchison China MediTech during the 3rd quarter valued at $273,000. The Manufacturers Life Insurance Company boosted its stake in Hutchison China MediTech by 7.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 103,799 shares of the company’s stock valued at $2,420,000 after purchasing an additional 7,400 shares in the last quarter. Baillie Gifford & Co. boosted its stake in Hutchison China MediTech by 6.1% during the 2nd quarter. Baillie Gifford & Co. now owns 167,547 shares of the company’s stock valued at $3,905,000 after purchasing an additional 9,655 shares in the last quarter. Finally, JPMorgan Chase & Co. bought a new position in Hutchison China MediTech during the 2nd quarter valued at $5,102,000. 4.36% of the stock is owned by hedge funds and other institutional investors.
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About Hutchison China MediTech
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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