Immunocore (NASDAQ:IMCR) Raised to Buy at Wall Street Zen

Immunocore (NASDAQ:IMCR) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Monday.

Several other research analysts have also issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Immunocore in a research report on Tuesday, April 21st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunocore in a report on Monday, July 13th. HC Wainwright reissued a “buy” rating and set a $100.00 price target on shares of Immunocore in a research note on Monday, April 20th. Finally, Zacks Research cut Immunocore from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $56.71.

Immunocore Price Performance

Immunocore stock opened at $34.96 on Monday. Immunocore has a 52-week low of $27.56 and a 52-week high of $40.71. The company has a market cap of $1.78 billion, a price-to-earnings ratio of -63.56 and a beta of 0.73. The firm’s fifty day moving average is $30.12 and its 200 day moving average is $31.26. The company has a quick ratio of 4.15, a current ratio of 4.18 and a debt-to-equity ratio of 1.00.

Immunocore (NASDAQ:IMCR) last posted its earnings results on Wednesday, May 6th. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.51. Immunocore had a negative net margin of 6.68% and a negative return on equity of 7.07%. The firm had revenue of $106.68 million for the quarter, compared to the consensus estimate of $145.20 million. During the same period in the previous year, the firm posted $0.10 EPS. The business’s quarterly revenue was up 13.6% on a year-over-year basis. Sell-side analysts forecast that Immunocore will post 0.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Immunocore

Several hedge funds have recently made changes to their positions in the company. Millennium Management LLC grew its position in shares of Immunocore by 334.3% during the 3rd quarter. Millennium Management LLC now owns 1,265,965 shares of the company’s stock worth $45,993,000 after buying an additional 974,463 shares in the last quarter. Vestal Point Capital LP bought a new stake in shares of Immunocore in the fourth quarter valued at about $20,305,000. Janus Henderson Group PLC bought a new stake in shares of Immunocore in the fourth quarter valued at about $15,734,000. Bellevue Group AG lifted its stake in Immunocore by 14.5% in the third quarter. Bellevue Group AG now owns 2,796,803 shares of the company’s stock worth $101,608,000 after acquiring an additional 354,973 shares during the period. Finally, Tang Capital Management LLC lifted its stake in Immunocore by 14.0% in the fourth quarter. Tang Capital Management LLC now owns 2,628,538 shares of the company’s stock worth $91,237,000 after acquiring an additional 322,930 shares during the period. 84.50% of the stock is currently owned by hedge funds and other institutional investors.

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.