Zacks: Analysts Set $41.00 Price Target for Hutchison China MediTech Ltd – (HCM)

Hutchison China MediTech Ltd – (NASDAQ:HCM) has been assigned an average broker rating score of 1.00 (Strong Buy) from the three analysts that cover the company, Zacks Investment Research reports. Three research analysts have rated the stock with a strong buy recommendation.

Brokerages have set a 1-year consensus price objective of $41.00 for the company, according to Zacks. Zacks has also assigned Hutchison China MediTech an industry rank of 178 out of 265 based on the ratings given to related companies.

Several analysts have commented on the company. BidaskClub upgraded Hutchison China MediTech from a “hold” rating to a “buy” rating in a research note on Saturday, December 30th. Canaccord Genuity increased their target price on Hutchison China MediTech to $38.00 and gave the company a “buy” rating in a research note on Monday, October 16th.

Shares of Hutchison China MediTech (NASDAQ:HCM) opened at $36.01 on Monday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.84 and a quick ratio of 1.73. Hutchison China MediTech has a 52 week low of $12.62 and a 52 week high of $42.25.

A number of institutional investors and hedge funds have recently modified their holdings of HCM. Harvest Fund Management Co. Ltd purchased a new position in shares of Hutchison China MediTech in the 4th quarter worth $10,334,000. JPMorgan Chase & Co. purchased a new position in shares of Hutchison China MediTech in the 2nd quarter worth $5,102,000. Schroder Investment Management Group boosted its stake in shares of Hutchison China MediTech by 2.1% in the 3rd quarter. Schroder Investment Management Group now owns 997,164 shares of the company’s stock worth $27,163,000 after buying an additional 20,800 shares during the last quarter. Baillie Gifford & Co. boosted its stake in shares of Hutchison China MediTech by 10.8% in the 3rd quarter. Baillie Gifford & Co. now owns 185,604 shares of the company’s stock worth $5,062,000 after buying an additional 18,057 shares during the last quarter. Finally, Perceptive Advisors LLC purchased a new position in shares of Hutchison China MediTech in the 3rd quarter worth $273,000. Institutional investors and hedge funds own 3.99% of the company’s stock.

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Hutchison China MediTech 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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