Immunocore (NASDAQ:IMCR) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Immunocore (NASDAQ:IMCR) from a buy rating to a hold rating in a report released on Saturday.

Several other analysts have also weighed in on the company. UBS Group set a $55.00 price objective on Immunocore and gave the company 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. 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 target on the stock. HC Wainwright restated a “buy” rating and set a $100.00 price objective on shares of Immunocore in a research note on Wednesday, October 22nd. Finally, Morgan Stanley lifted their price objective on shares of Immunocore from $34.00 to $36.00 and gave the stock an “equal weight” rating in a report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Immunocore presently has an average rating of “Moderate Buy” and an average target price of $60.40.

Immunocore Stock Up 1.5%

IMCR stock opened at $33.04 on Friday. 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 50 day simple moving average of $35.43 and a 200-day simple moving average of $34.53. The company has a market capitalization of $1.67 billion, a P/E ratio of -57.96 and a beta of 0.78. Immunocore has a twelve month low of $23.15 and a twelve month high of $40.71.

Immunocore (NASDAQ:IMCR) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.32. The company had revenue of $103.69 million during the quarter, compared to analyst estimates of $137.29 million. Immunocore had a negative net margin of 7.70% and a negative return on equity of 7.67%. The firm’s revenue for the quarter was up 29.2% compared to the same quarter last year. During the same period last year, the business earned $0.17 EPS. On average, equities research analysts predict that Immunocore will post -0.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Hussman Strategic Advisors Inc. bought a new position in shares of Immunocore in the fourth quarter valued at approximately $1,458,000. State of New Jersey Common Pension Fund D boosted its stake in Immunocore by 6.9% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 27,663 shares of the company’s stock valued at $960,000 after purchasing an additional 1,777 shares in the last quarter. R Squared Ltd boosted its stake in Immunocore by 7.4% during the 4th quarter. R Squared Ltd now owns 8,849 shares of the company’s stock valued at $307,000 after purchasing an additional 606 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Immunocore by 115.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 15,109 shares of the company’s stock valued at $524,000 after purchasing an additional 8,088 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Immunocore by 37.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,120 shares of the company’s stock worth $74,000 after buying an additional 572 shares in the last quarter. Institutional investors own 84.50% of the company’s stock.

About Immunocore

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.