Hutchmed price target lowered to $21 from $22 at BofA

BofA analyst Alec Stranahan lowered the firm’s price target on Hutchmed (HCM) to $21 from $22 and keeps a Buy rating on the shares. The firm says Hutchmed’s FY25 print “offered some positive steps forward after a weaker 1H25.” Directional commentary about fruquintinib indication expansion in 2026 and increasing the number of Fruzaqla markets bolsters the firm’s confidence that Hutchmed can meet their 2026 guidance for Oncology/Immunology, the analyst tells investors.