Immunocore (NASDAQ:IMCR) Upgraded at Zacks Research

Immunocore (NASDAQ:IMCR) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other brokerages have also commented on IMCR. Mizuho lifted their price objective on Immunocore from $34.00 to $35.00 and gave the stock a “neutral” rating in a research report on Monday. Wall Street Zen cut Immunocore from a “buy” rating to a “hold” rating in a report on Tuesday, July 28th. Cantor Fitzgerald restated an “overweight” rating on shares of Immunocore in a research report on Monday, July 13th. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 target price on shares of Immunocore in a research note on Monday, April 20th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Immunocore in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Immunocore presently has a consensus rating of “Moderate Buy” and an average price target of $56.29.

Immunocore Stock Up 3.6%

Shares of IMCR opened at $34.50 on Wednesday. The business’s fifty day moving average price is $31.54 and its two-hundred day moving average price is $31.33. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of -62.73 and a beta of 0.74. Immunocore has a 52 week low of $27.56 and a 52 week high of $40.71. 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 Thursday, August 6th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). Immunocore had a negative return on equity of 7.07% and a negative net margin of 6.68%.The firm had revenue of $115.93 million for the quarter, compared to the consensus estimate of $148.44 million. On average, analysts predict that Immunocore will post 0.08 earnings per share for the current year.

Institutional Trading of Immunocore

Several hedge funds have recently added to or reduced their stakes in the business. Harbour Investments Inc. grew its stake in Immunocore by 60.2% in the fourth quarter. Harbour Investments Inc. now owns 1,033 shares of the company’s stock valued at $36,000 after purchasing an additional 388 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Immunocore by 37.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,120 shares of the company’s stock worth $74,000 after purchasing an additional 572 shares during the last quarter. R Squared Ltd raised its stake in shares of Immunocore by 7.4% during the 4th quarter. R Squared Ltd now owns 8,849 shares of the company’s stock worth $307,000 after purchasing an additional 606 shares in the last quarter. Leonteq Securities AG bought a new position in shares of Immunocore in the fourth quarter valued at $30,000. Finally, Orion Porfolio Solutions LLC grew its stake in shares of Immunocore by 4.5% in the second quarter. Orion Porfolio Solutions LLC now owns 23,965 shares of the company’s stock valued at $752,000 after buying an additional 1,031 shares in the last quarter. Institutional investors and hedge funds own 84.50% of the company’s stock.

About Immunocore

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.