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

Immunocore (NASDAQ:IMCR)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a report issued on Thursday, Benzinga reports. They presently have a $100.00 price target on the stock. HC Wainwright’s price target would indicate a potential upside of 204.88% from the company’s previous close.

Several other analysts also recently issued reports on IMCR. Oppenheimer reissued an “outperform” rating and issued a $89.00 price objective (up previously from $87.00) on shares of Immunocore in a research note on Friday, August 9th. JPMorgan Chase & Co. dropped their price objective on Immunocore from $70.00 to $66.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Barclays reduced their target price on Immunocore from $92.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Needham & Company LLC lowered their target price on shares of Immunocore from $81.00 to $78.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Finally, Morgan Stanley reduced their price target on shares of Immunocore from $80.00 to $74.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $75.17.

Immunocore Price Performance

Shares of Immunocore stock opened at $32.80 on Thursday. The stock has a 50 day moving average price of $33.33 and a 200-day moving average price of $41.15. Immunocore has a one year low of $29.72 and a one year high of $76.98. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -30.37 and a beta of 0.72. The company has a debt-to-equity ratio of 1.31, a quick ratio of 5.15 and a current ratio of 5.17.

Immunocore (NASDAQ:IMCR) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.25. The company had revenue of $75.40 million during the quarter, compared to analyst estimates of $74.58 million. Immunocore had a negative net margin of 19.16% and a negative return on equity of 14.68%. Immunocore’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.37) earnings per share. Equities analysts expect that Immunocore will post -1.68 EPS for the current year.

Hedge Funds Weigh In On Immunocore

A number of hedge funds and other institutional investors have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. lifted its holdings in Immunocore by 69.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 7,433 shares of the company’s stock worth $231,000 after buying an additional 3,053 shares during the period. Exchange Traded Concepts LLC lifted its stake in shares of Immunocore by 40.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 5,075 shares of the company’s stock worth $158,000 after purchasing an additional 1,461 shares during the last quarter. Connective Portfolio Management LLC bought a new stake in Immunocore during the third quarter valued at about $218,000. Frazier Life Sciences Management L.P. purchased a new position in Immunocore in the second quarter valued at about $3,686,000. Finally, The Manufacturers Life Insurance Company raised its holdings in Immunocore by 37.2% in the second quarter. The Manufacturers Life Insurance Company now owns 121,753 shares of the company’s stock worth $4,126,000 after purchasing an additional 33,003 shares in the last quarter. 84.50% of the stock is currently owned by institutional investors.

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.