Immunocore (NASDAQ:IMCR) Rating Lowered to Neutral at Guggenheim

Immunocore (NASDAQ:IMCR) was downgraded by research analysts at Guggenheim from a “buy” rating to a “neutral” rating in a research report issued on Monday, MarketBeat.com reports.

Other research analysts also recently issued research reports about the company. Oppenheimer reaffirmed an “outperform” rating and set a $89.00 price objective (up previously from $87.00) on shares of Immunocore in a report on Friday, August 9th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunocore in a research report on Monday, September 9th. Needham & Company LLC cut their target price on shares of Immunocore from $81.00 to $78.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. HC Wainwright reiterated a “buy” rating and set a $100.00 price target on shares of Immunocore in a research report on Tuesday, September 17th. Finally, Barclays dropped their price target on shares of Immunocore from $92.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Immunocore has an average rating of “Moderate Buy” and an average target price of $80.40.

Immunocore Price Performance

Immunocore stock opened at $30.57 on Monday. The business’s fifty day moving average is $34.89 and its two-hundred day moving average is $43.88. The company has a debt-to-equity ratio of 1.31, a quick ratio of 5.15 and a current ratio of 5.17. The firm has a market cap of $1.53 billion, a P/E ratio of -25.06 and a beta of 0.72. Immunocore has a 52 week low of $29.72 and a 52 week high of $76.98.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC acquired a new stake in shares of Immunocore during the first quarter worth $423,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Immunocore by 69.8% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,621 shares of the company’s stock valued at $430,000 after purchasing an additional 2,721 shares during the period. Nan Fung Group Holdings Ltd bought a new stake in shares of Immunocore in the first quarter valued at about $439,000. Connective Portfolio Management LLC bought a new stake in shares of Immunocore in the third quarter valued at about $218,000. Finally, DNB Asset Management AS boosted its position in shares of Immunocore by 35.0% during 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. Institutional investors and hedge funds own 84.50% of the company’s stock.

About Immunocore

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.