Immunocore (NASDAQ:IMCR) Stock Rating Lowered by Wall Street Zen

Immunocore (NASDAQ:IMCR) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Several other analysts have also recently issued reports on the company. UBS Group set a $55.00 price objective on Immunocore and gave the stock a “buy” rating in a report on Wednesday, January 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Immunocore in a research report on Thursday, January 22nd. Zacks Research raised shares of Immunocore from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 7th. Wells Fargo & Company initiated coverage on shares of Immunocore in a research report on Friday, October 31st. They set an “overweight” rating and a $60.00 target price on the stock. Finally, Morgan Stanley lifted their price target on Immunocore from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.40.

Immunocore Stock Performance

Shares of NASDAQ IMCR opened at $32.55 on Friday. The company has a market cap of $1.64 billion, a P/E ratio of -57.11 and a beta of 0.78. Immunocore has a 52-week low of $23.15 and a 52-week high of $40.71. The company has a debt-to-equity ratio of 0.99, a quick ratio of 5.97 and a current ratio of 6.00. The firm’s fifty day moving average is $35.54 and its two-hundred day moving average is $34.56.

Immunocore (NASDAQ:IMCR) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.32. The firm had revenue of $103.69 million during 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 quarterly revenue was up 29.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.17 earnings per share. As a group, analysts anticipate that Immunocore will post -0.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Bellevue Group AG raised its stake in shares of Immunocore by 99.9% during the second quarter. Bellevue Group AG now owns 2,441,830 shares of the company’s stock valued at $76,625,000 after acquiring an additional 1,220,036 shares in the last quarter. Primecap Management Co. CA increased its holdings in Immunocore by 40.8% during the 2nd quarter. Primecap Management Co. CA now owns 3,771,474 shares of the company’s stock worth $118,349,000 after purchasing an additional 1,092,824 shares during the period. BVF Inc. IL bought a new stake in Immunocore during the 2nd quarter valued at $32,142,000. Millennium Management LLC raised its position in Immunocore by 334.3% during the 3rd quarter. Millennium Management LLC now owns 1,265,965 shares of the company’s stock valued at $45,993,000 after purchasing an additional 974,463 shares in the last quarter. Finally, Armistice Capital LLC lifted its holdings in shares of Immunocore by 21.5% in the 3rd quarter. Armistice Capital LLC now owns 824,000 shares of the company’s stock worth $29,936,000 after buying an additional 146,000 shares during the period. Institutional investors own 84.50% of the company’s stock.

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.