Immunocore (NASDAQ:IMCR) Receives New Coverage from Analysts at SVB Leerink

SVB Leerink started coverage on shares of Immunocore (NASDAQ:IMCR) in a research note released on Monday morning, MarketBeat Ratings reports. The firm issued an outperform rating and a $74.00 target price on the stock.

Several other analysts have also issued reports on IMCR. Guggenheim restated a buy rating and set a $92.00 target price on shares of Immunocore in a research report on Tuesday, April 23rd. Canaccord Genuity Group boosted their target price on shares of Immunocore from $60.00 to $63.00 and gave the company a hold rating in a research report on Thursday, February 29th. Oppenheimer restated an outperform rating and set a $87.00 target price (up from $85.00) on shares of Immunocore in a research report on Thursday, February 29th. HC Wainwright reaffirmed a buy rating and set a $90.00 price target on shares of Immunocore in a report on Wednesday, March 6th. Finally, Mizuho lifted their price target on shares of Immunocore from $86.00 to $90.00 and gave the company a buy rating in a report on Tuesday, March 5th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $80.92.

Immunocore Stock Performance

Shares of IMCR stock opened at $58.10 on Monday. The company has a 50 day moving average price of $62.10 and a 200-day moving average price of $60.89. The company has a quick ratio of 3.77, a current ratio of 3.80 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $2.89 billion, a PE ratio of -50.09 and a beta of 0.89. Immunocore has a 52 week low of $42.21 and a 52 week high of $76.98.

Immunocore (NASDAQ:IMCR) last announced its earnings results on Wednesday, February 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.12). The business had revenue of $70.16 million for the quarter, compared to the consensus estimate of $53.25 million. Immunocore had a negative net margin of 22.48% and a negative return on equity of 15.78%. The business’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.63) earnings per share. As a group, equities research analysts expect that Immunocore will post -1.54 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in IMCR. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Immunocore during the 3rd quarter valued at about $650,000. TD Asset Management Inc lifted its stake in Immunocore by 109.9% in the third quarter. TD Asset Management Inc now owns 301,920 shares of the company’s stock worth $15,670,000 after purchasing an additional 158,086 shares during the last quarter. Assetmark Inc. increased its position in shares of Immunocore by 54.9% during the third quarter. Assetmark Inc. now owns 11,011 shares of the company’s stock worth $571,000 after acquiring an additional 3,902 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Immunocore by 1.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 108,651 shares of the company’s stock worth $5,639,000 after acquiring an additional 1,513 shares during the period. Finally, China Universal Asset Management Co. Ltd. increased its position in shares of Immunocore by 103.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 836 shares of the company’s stock worth $43,000 after acquiring an additional 426 shares during the period. Institutional investors own 84.50% of the company’s stock.

Immunocore Company Profile

Immunocore Holdings plc, a commercial-stage biotechnology company, engages in the development of immunotherapies for the treatment of cancer, infectious, and autoimmune diseases. The company offers KIMMTRAK for the treatment of patients with unresectable or metastatic uveal melanoma. It also develops other programs for oncology, including tebentafusp that is in Phase 2/3 clinical trial to treat advanced cutaneous melanoma.