Immunocore (NASDAQ:IMCR) Price Target Raised to $35.00 at Mizuho

Immunocore (NASDAQ:IMCR) had its price target upped by equities researchers at Mizuho from $34.00 to $35.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Mizuho’s price objective suggests a potential upside of 3.52% from the company’s previous close.

Several other analysts have also commented on IMCR. Weiss Ratings reissued a “sell (e+)” rating on shares of Immunocore in a research note on Friday, July 17th. Zacks Research lowered shares of Immunocore from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Wall Street Zen cut Immunocore from a “buy” rating to a “hold” rating in a report on Tuesday, July 28th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunocore in a research report on Monday, July 13th. Finally, HC Wainwright restated a “buy” rating and issued a $100.00 target price on shares of Immunocore in a report on Monday, April 20th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $56.29.

Immunocore Stock Performance

Shares of NASDAQ IMCR opened at $33.81 on Monday. The stock has a fifty day moving average price of $31.19 and a two-hundred day moving average price of $31.32. Immunocore has a 1 year low of $27.56 and a 1 year high of $40.71. The firm has a market cap of $1.72 billion, a P/E ratio of -61.47 and a beta of 0.73. The company has a debt-to-equity ratio of 1.00, a quick ratio of 4.15 and a current ratio of 4.18.

Immunocore (NASDAQ:IMCR) last released its earnings results on Wednesday, May 6th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.51. The firm had revenue of $106.68 million for the quarter, compared to analyst estimates of $145.20 million. Immunocore had a negative return on equity of 7.07% and a negative net margin of 6.68%.Immunocore’s revenue was up 13.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 earnings per share. Research analysts forecast that Immunocore will post 0.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Immunocore

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Primecap Management Co. CA lifted its holdings in shares of Immunocore by 5.5% in the fourth quarter. Primecap Management Co. CA now owns 3,961,880 shares of the company’s stock valued at $137,517,000 after purchasing an additional 207,320 shares in the last quarter. Bellevue Group AG increased its position in Immunocore by 14.5% in the 3rd quarter. Bellevue Group AG now owns 2,796,803 shares of the company’s stock worth $101,608,000 after purchasing an additional 354,973 shares during the last quarter. Tang Capital Management LLC lifted its holdings in shares of Immunocore by 14.0% during the 4th quarter. Tang Capital Management LLC now owns 2,628,538 shares of the company’s stock valued at $91,237,000 after buying an additional 322,930 shares during the last quarter. Millennium Management LLC increased its holdings in Immunocore by 334.3% in the third quarter. Millennium Management LLC now owns 1,265,965 shares of the company’s stock worth $45,993,000 after buying an additional 974,463 shares during the last quarter. Finally, Armistice Capital LLC lifted its stake in Immunocore by 33.3% in the fourth quarter. Armistice Capital LLC now owns 1,098,000 shares of the company’s stock valued at $38,112,000 after acquiring an additional 274,000 shares during the last quarter. Institutional investors and hedge funds own 84.50% of the company’s stock.

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.