Immunocore (NASDAQ:IMCR) Receives Buy Rating from HC Wainwright

Immunocore (NASDAQ:IMCR)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a report issued on Wednesday, Benzinga reports. They presently have a $100.00 price target on the stock. HC Wainwright’s price target points to a potential upside of 134.74% from the stock’s previous close.

IMCR has been the subject of several other research reports. Needham & Company LLC restated a “buy” rating and issued a $81.00 price target on shares of Immunocore in a research report on Monday. Mizuho reduced their price target on shares of Immunocore from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Monday, May 13th. Leerink Partnrs restated an “outperform” rating on shares of Immunocore in a research report on Monday, April 29th. Guggenheim restated a “buy” rating and issued a $92.00 price target on shares of Immunocore in a research report on Tuesday, April 23rd. Finally, Canaccord Genuity Group upped their price target on shares of Immunocore from $63.00 to $67.00 and gave the company a “hold” rating in a research report on Thursday, May 9th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $81.85.

Immunocore Price Performance

NASDAQ:IMCR traded down $0.71 during trading hours on Wednesday, reaching $42.60. 146,610 shares of the company’s stock were exchanged, compared to its average volume of 609,393. The company has a market capitalization of $2.13 billion, a P/E ratio of -34.92 and a beta of 0.83. Immunocore has a 12 month low of $41.01 and a 12 month high of $76.98. The company has a quick ratio of 5.94, a current ratio of 5.96 and a debt-to-equity ratio of 1.22. The business’s 50-day simple moving average is $56.16 and its two-hundred day simple moving average is $61.89.

Immunocore (NASDAQ:IMCR) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.12). The firm had revenue of $70.30 million during the quarter, compared to analysts’ expectations of $70.72 million. Immunocore had a negative net margin of 22.60% and a negative return on equity of 16.54%. The firm’s revenue was up 27.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.35) EPS. Sell-side analysts expect that Immunocore will post -1.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Exchange Traded Concepts LLC increased its stake in shares of Immunocore by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 2,656 shares of the company’s stock worth $181,000 after purchasing an additional 674 shares during the last quarter. JGP Global Gestao de Recursos Ltda. acquired a new position in shares of Immunocore during the 4th quarter worth $230,000. NEOS Investment Management LLC acquired a new position in shares of Immunocore during the 4th quarter worth $262,000. China Universal Asset Management Co. Ltd. increased its stake in shares of Immunocore by 366.5% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,900 shares of the company’s stock worth $266,000 after purchasing an additional 3,064 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in shares of Immunocore by 26.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 7,491 shares of the company’s stock worth $389,000 after purchasing an additional 1,572 shares during the last quarter. 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.