Immunocore (NASDAQ:IMCR) Earns “Buy” Rating from HC Wainwright

Immunocore (NASDAQ:IMCR)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $100.00 target price on the stock. HC Wainwright’s price objective points to a potential upside of 158.80% from the company’s current price.

Other research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. dropped their price target on Immunocore from $54.00 to $50.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Needham & Company LLC reissued a “buy” rating and set a $71.00 target price on shares of Immunocore in a research note on Thursday, April 10th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Immunocore in a research note on Tuesday, May 27th. They set a “buy” rating and a $65.00 target price on the stock. Morgan Stanley reissued an “equal weight” rating and set a $35.00 target price on shares of Immunocore in a research note on Friday, March 7th. Finally, Oppenheimer boosted their target price on shares of Immunocore from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Immunocore presently has an average rating of “Moderate Buy” and an average target price of $58.89.

Immunocore Price Performance

NASDAQ IMCR opened at $38.64 on Monday. The stock has a market capitalization of $1.94 billion, a P/E ratio of -40.67 and a beta of 0.75. Immunocore has a 1 year low of $23.15 and a 1 year high of $43.97. The business’s fifty day moving average is $29.73 and its two-hundred day moving average is $30.06. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.76 and a current ratio of 3.78.

Immunocore (NASDAQ:IMCR) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.45. The company had revenue of $125.13 million for the quarter, compared to analysts’ expectations of $108.82 million. Immunocore had a negative return on equity of 12.84% and a negative net margin of 15.87%. The firm’s revenue was up 33.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.49) earnings per share. On average, research analysts forecast that Immunocore will post -0.94 earnings per share for the current fiscal year.

Insider Transactions at Immunocore

In related news, Director Bros. Advisors Lp Baker purchased 807,338 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were acquired at an average cost of $29.72 per share, with a total value of $23,994,085.36. Following the completion of the purchase, the director now owns 2,144,060 shares of the company’s stock, valued at $63,721,463.20. The trade was a 60.40% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Immunocore

Hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC boosted its holdings in Immunocore by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 35,492 shares of the company’s stock worth $1,047,000 after purchasing an additional 420 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Immunocore by 1.1% in the first quarter. Envestnet Asset Management Inc. now owns 67,259 shares of the company’s stock worth $1,996,000 after purchasing an additional 735 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in Immunocore in the fourth quarter worth $25,000. China Universal Asset Management Co. Ltd. boosted its holdings in Immunocore by 12.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,393 shares of the company’s stock worth $248,000 after purchasing an additional 960 shares in the last quarter. Finally, NEOS Investment Management LLC boosted its holdings in Immunocore by 10.9% in the fourth quarter. NEOS Investment Management LLC now owns 11,194 shares of the company’s stock worth $330,000 after purchasing an additional 1,102 shares in the last quarter. 84.50% of the stock is owned by institutional investors and hedge funds.

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.