Immunocore (NASDAQ:IMCR) Raised to “Strong-Buy” at Zacks Research

Immunocore (NASDAQ:IMCRGet Free Report) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

IMCR has been the subject of several other reports. HC Wainwright restated a “buy” rating and set a $100.00 price objective on shares of Immunocore in a research report on Monday, April 20th. Wall Street Zen lowered shares of Immunocore from a “buy” rating to a “hold” rating in a report on Tuesday, July 28th. Cantor Fitzgerald reissued an “overweight” rating on shares of Immunocore in a research note on Monday, July 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of Immunocore in a research note on Friday, July 17th. Finally, Mizuho raised their price target on shares of Immunocore from $34.00 to $35.00 and gave the stock a “neutral” rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $56.29.

Check Out Our Latest Analysis on IMCR

Immunocore Stock Up 3.6%

Shares of NASDAQ:IMCR opened at $34.50 on Wednesday. Immunocore has a 52-week low of $27.56 and a 52-week high of $40.71. The stock has a market cap of $1.76 billion, a P/E ratio of -62.73 and a beta of 0.74. The business has a fifty day moving average of $31.54 and a two-hundred day moving average of $31.33. 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:IMCRGet Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The company had revenue of $115.93 million for the quarter, compared to analysts’ expectations of $148.44 million. Immunocore had a negative return on equity of 7.07% and a negative net margin of 6.68%. On average, research analysts expect that Immunocore will post 0.08 earnings per share for the current year.

Institutional Trading of Immunocore

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Leonteq Securities AG purchased a new stake in Immunocore in the 4th quarter valued at about $30,000. Harbour Investments Inc. lifted its position in Immunocore by 60.2% in the fourth quarter. Harbour Investments Inc. now owns 1,033 shares of the company’s stock valued at $36,000 after buying an additional 388 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new position in Immunocore during the fourth quarter worth about $47,000. Arax Advisory Partners boosted its stake in Immunocore by 302.9% during the fourth quarter. Arax Advisory Partners now owns 1,386 shares of the company’s stock worth $48,000 after buying an additional 1,042 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Immunocore by 202.8% during the second quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock valued at $61,000 after acquiring an additional 1,286 shares during the last quarter. 84.50% of the stock is owned by institutional investors and hedge funds.

Immunocore Company Profile

(Get Free Report)

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.

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