UPDATE: Jefferies Starts Hutchmed (China) Ltd. (HCM) at Buy

August 3, 2021 6:06 AM EDT
Get Alerts HCM Hot Sheet
Price: $38.41 --0%

Rating Summary:
    9 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 8 | Down: 8 | New: 9
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(Updated - August 3, 2021 7:56 AM EDT)

Jefferies analyst Kelly Shi initiates coverage on Hutchmed (China) Ltd. (NASDAQ: HCM) with a Buy rating and a price target of $52.00.

The analyst commented, "HCM is a China-based, fully integrated biopharma co w/ strong in-house R&D, established commercial platform, and global pharma partnerships. HCM recently launched 3 cancer drugs to local market and expects global launches in '22 & '23. A broad pipeline across 10 assets advances at full steam w/ 10 new registrational trials to start soon and multiple data events in next 18M. We believe HCM's pipeline potential is underappreciated. We initiate w/ Buy and $52 PT."

For an analyst ratings summary and ratings history on Hutchmed (China) Ltd. click here. For more ratings news on Hutchmed (China) Ltd. click here.

Shares of Hutchmed (China) Ltd. closed at $42.79 yesterday.

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