HC Wainwright Reaffirms “Buy” Rating for Immunocore (NASDAQ:IMCR)

Immunocore (NASDAQ:IMCR)‘s stock had its “buy” rating reissued by HC Wainwright in a report released on Monday,Benzinga reports. They currently have a $100.00 price target on the stock. HC Wainwright’s target price would suggest a potential upside of 203.03% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the company. Guggenheim cut Immunocore from a “buy” rating to a “neutral” rating in a report on Monday, October 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $71.00 price objective on shares of Immunocore in a report on Friday, January 10th. Morgan Stanley reiterated an “equal weight” rating and set a $35.00 price objective (down previously from $74.00) on shares of Immunocore in a research report on Friday, December 13th. UBS Group started coverage on shares of Immunocore in a research report on Thursday, October 24th. They issued a “sell” rating and a $24.00 target price for the company. Finally, Mizuho lowered shares of Immunocore from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $72.00 to $38.00 in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Immunocore presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.64.

Immunocore Trading Up 0.9 %

Shares of Immunocore stock opened at $33.00 on Monday. The stock has a market cap of $1.65 billion, a P/E ratio of -34.74 and a beta of 0.76. The company has a quick ratio of 3.76, a current ratio of 3.78 and a debt-to-equity ratio of 1.03. Immunocore has a 12-month low of $27.69 and a 12-month high of $76.98. The business’s 50 day moving average is $30.53 and its 200-day moving average is $33.33.

Immunocore (NASDAQ:IMCR) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.50. Immunocore had a negative net margin of 15.87% and a negative return on equity of 12.84%. The firm had revenue of $80.25 million during the quarter, compared to analysts’ expectations of $78.94 million. During the same quarter last year, the company posted ($0.59) earnings per share. The company’s revenue for the quarter was up 23.7% compared to the same quarter last year. Equities research analysts predict that Immunocore will post -0.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Immunocore

Hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP lifted its stake in Immunocore by 10.5% in the 3rd quarter. Wellington Management Group LLP now owns 7,048,833 shares of the company’s stock valued at $219,430,000 after purchasing an additional 668,382 shares during the last quarter. FMR LLC increased its stake in shares of Immunocore by 0.5% in the third quarter. FMR LLC now owns 4,836,040 shares of the company’s stock valued at $150,546,000 after buying an additional 23,436 shares during the period. Primecap Management Co. CA boosted its position in Immunocore by 26.7% during the 3rd quarter. Primecap Management Co. CA now owns 2,472,020 shares of the company’s stock worth $76,954,000 after buying an additional 520,950 shares during the period. Bellevue Group AG increased its position in Immunocore by 4.4% in the 3rd quarter. Bellevue Group AG now owns 1,205,464 shares of the company’s stock valued at $37,526,000 after acquiring an additional 50,810 shares during the period. Finally, Two Sigma Advisers LP grew its stake in shares of Immunocore by 65.6% in the third quarter. Two Sigma Advisers LP now owns 757,700 shares of the company’s stock worth $23,587,000 after purchasing an additional 300,200 shares during the last quarter. 84.50% of the stock is currently owned by institutional investors and hedge funds.

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.