Immunocore (NASDAQ:IMCR) Given “Buy” Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Immunocore (NASDAQ:IMCR) in a research note released on Tuesday, Benzinga reports. The firm currently has a $100.00 target price on the stock.

Several other equities analysts have also recently commented on the company. Barclays reduced their target price on Immunocore from $92.00 to $66.00 and set an overweight rating for the company in a research note on Friday, August 9th. Needham & Company LLC reiterated a buy rating and set a $81.00 target price on shares of Immunocore in a research note on Friday, August 9th. Cantor Fitzgerald reiterated an overweight rating on shares of Immunocore in a research note on Monday, September 9th. JPMorgan Chase & Co. reduced their target price on Immunocore from $70.00 to $66.00 and set an overweight rating for the company in a research note on Wednesday, July 10th. Finally, Oppenheimer reiterated an outperform rating and set a $89.00 target price (up from $87.00) on shares of Immunocore in a research note on Friday, August 9th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $80.40.

Immunocore Stock Down 0.7 %

NASDAQ IMCR opened at $34.21 on Tuesday. The stock has a market cap of $1.71 billion, a PE ratio of -28.04 and a beta of 0.73. Immunocore has a fifty-two week low of $32.37 and a fifty-two week high of $76.98. The business has a 50 day moving average price of $37.07 and a two-hundred day moving average price of $46.82. The company has a quick ratio of 5.15, a current ratio of 5.17 and a debt-to-equity ratio of 1.31.

Immunocore (NASDAQ:IMCR) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.25. The firm had revenue of $75.40 million during the quarter, compared to analysts’ expectations of $74.58 million. Immunocore had a negative return on equity of 14.68% and a negative net margin of 19.16%. Immunocore’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.37) EPS. As a group, sell-side analysts predict that Immunocore will post -1.79 EPS for the current fiscal year.

Hedge Funds Weigh In On Immunocore

Large investors have recently added to or reduced their stakes in the company. DNB Asset Management AS increased its position in Immunocore by 35.0% in the second quarter. DNB Asset Management AS now owns 7,211 shares of the company’s stock worth $244,000 after buying an additional 1,868 shares during the period. NEOS Investment Management LLC acquired a new stake in Immunocore in the fourth quarter worth $262,000. XTX Topco Ltd acquired a new stake in Immunocore in the second quarter worth $303,000. Tidal Investments LLC acquired a new stake in Immunocore in the first quarter worth $423,000. Finally, China Universal Asset Management Co. Ltd. increased its position in Immunocore by 69.8% in the first quarter. China Universal Asset Management Co. Ltd. now owns 6,621 shares of the company’s stock worth $430,000 after buying an additional 2,721 shares during the period. 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.