Equities research analysts at JPMorgan Chase & Co. started coverage on shares of Immunocore (NASDAQ:IMCR – Get Free Report) in a report released on Friday. The firm set an “overweight” rating and a $50.00 price target on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 38.16% from the company’s previous close.
A number of other brokerages have also issued reports on IMCR. Wall Street Zen lowered Immunocore from a “buy” rating to a “hold” rating in a report on Tuesday, July 28th. Mizuho lifted their target price on Immunocore from $34.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Morgan Stanley set a $43.00 price target on Immunocore in a research report on Friday, August 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of Immunocore in a research note on Friday, July 17th. Finally, Zacks Research raised Immunocore from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Immunocore has a consensus rating of “Moderate Buy” and an average target price of $56.38.
View Our Latest Stock Report on Immunocore
Immunocore Stock Performance
Immunocore (NASDAQ:IMCR – Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). Immunocore had a negative net margin of 4.20% and a negative return on equity of 4.54%. On average, equities research analysts forecast that Immunocore will post 0.13 earnings per share for the current year.
Hedge Funds Weigh In On Immunocore
Hedge funds have recently modified their holdings of the company. Royal Bank of Canada lifted its holdings in shares of Immunocore by 45.1% in the first quarter. Royal Bank of Canada now owns 44,011 shares of the company’s stock valued at $1,306,000 after buying an additional 13,689 shares during the period. Geode Capital Management LLC grew its holdings in Immunocore by 40.1% during the second quarter. Geode Capital Management LLC now owns 52,001 shares of the company’s stock worth $1,632,000 after acquiring an additional 14,877 shares during the period. Marshall Wace LLP grew its holdings in Immunocore by 425.8% during the second quarter. Marshall Wace LLP now owns 146,610 shares of the company’s stock worth $4,601,000 after acquiring an additional 118,728 shares during the period. Sei Investments Co. bought a new stake in Immunocore in the second quarter worth about $983,000. Finally, Cubist Systematic Strategies LLC raised its position in Immunocore by 108.0% in the second quarter. Cubist Systematic Strategies LLC now owns 142,757 shares of the company’s stock worth $4,480,000 after acquiring an additional 74,128 shares in the last quarter. 84.50% of the stock is currently owned by institutional investors and hedge funds.
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.
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