Immunocore (NASDAQ:IMCR) Upgraded at UBS Group

UBS Group upgraded shares of Immunocore (NASDAQ:IMCR) from a sell rating to a buy rating in a report released on Wednesday, Marketbeat.com reports. They currently have $55.00 target price on the stock, up from their prior target price of $24.00.

Several other research analysts have also commented on the stock. Guggenheim initiated coverage on shares of Immunocore in a report on Thursday, September 18th. They issued a “neutral” rating for the company. Wall Street Zen upgraded Immunocore from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Immunocore in a research report on Wednesday, October 8th. Wells Fargo & Company started coverage on Immunocore in a research report on Friday, October 31st. They set an “overweight” rating and a $60.00 price objective for the company. Finally, Morgan Stanley upped their price objective on Immunocore from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $60.40.

Immunocore Price Performance

Shares of IMCR opened at $33.00 on Wednesday. Immunocore has a 52 week low of $23.15 and a 52 week high of $40.71. The company has a current ratio of 6.00, a quick ratio of 5.97 and a debt-to-equity ratio of 0.99. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of -57.89 and a beta of 0.78. The stock has a 50 day moving average of $36.01 and a 200-day moving average of $34.50.

Immunocore (NASDAQ:IMCR) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.32. The business had revenue of $103.69 million for the quarter, compared to analyst estimates of $137.29 million. Immunocore had a negative return on equity of 7.67% and a negative net margin of 7.70%.The business’s revenue was up 29.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.17 EPS. As a group, analysts forecast that Immunocore will post -0.94 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IMCR. GAMMA Investing LLC lifted its holdings in Immunocore by 51.6% in the third quarter. GAMMA Investing LLC now owns 914 shares of the company’s stock worth $33,000 after purchasing an additional 311 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in shares of Immunocore by 4,696.3% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 1,295 shares of the company’s stock worth $41,000 after acquiring an additional 1,268 shares during the period. Elevation Point Wealth Partners LLC bought a new position in shares of Immunocore in the second quarter valued at approximately $42,000. Osaic Holdings Inc. boosted its holdings in shares of Immunocore by 117.4% in the second quarter. Osaic Holdings Inc. now owns 3,148 shares of the company’s stock valued at $97,000 after acquiring an additional 1,700 shares in the last quarter. Finally, State of Tennessee Department of Treasury acquired a new position in shares of Immunocore during the second quarter valued at approximately $132,000. 84.50% of the stock is owned by institutional investors and hedge funds.

Immunocore Company Profile

Immunocore plc is a clinical‐stage biotechnology company focused on the development of novel immunotherapies that harness the body’s own T‐cell response to treat cancer and infectious diseases. The company’s proprietary ImmTAC (immune mobilising monoclonal T‐cell receptors against cancer) platform utilizes engineered, soluble T‐cell receptor (TCR) molecules designed to recognise intracellular peptide–HLA complexes. By redirecting and activating T cells against disease‐associated targets, Immunocore aims to address malignancies and persistent viral infections with high unmet medical need.

The company’s most advanced candidate, tebentafusp, is a bispecific ImmTAC molecule that targets gp100, a melanoma‐associated antigen, and has received regulatory approval for the treatment of metastatic uveal melanoma.