Immunocore’s (IMCR) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Immunocore (NASDAQ:IMCR) in a research report report published on Wednesday morning,Benzinga reports. HC Wainwright currently has a $100.00 target price on the stock.

Several other research firms also recently issued reports on IMCR. Zacks Research raised shares of Immunocore from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 7th. Wall Street Zen cut Immunocore from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Immunocore in a research note on Thursday, January 22nd. Morgan Stanley raised their target price on Immunocore from $34.00 to $36.00 and gave the company an “equal weight” rating in a research report on Monday, November 10th. Finally, UBS Group set a $55.00 price target on Immunocore and gave the stock a “buy” rating in a research note on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Immunocore presently has an average rating of “Moderate Buy” and a consensus price target of $60.40.

Immunocore Stock Performance

Shares of IMCR stock opened at $31.50 on Wednesday. The company has a current ratio of 6.00, a quick ratio of 5.97 and a debt-to-equity ratio of 0.99. Immunocore has a 12-month low of $23.15 and a 12-month high of $40.71. The business’s 50 day moving average is $35.10 and its two-hundred day moving average is $34.48. The company has a market capitalization of $1.59 billion, a P/E ratio of -55.26 and a beta of 0.78.

Immunocore (NASDAQ:IMCR) last announced its earnings results on Thursday, November 6th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.32. Immunocore had a negative return on equity of 7.67% and a negative net margin of 7.70%.The business had revenue of $103.69 million during the quarter, compared to the consensus estimate of $137.29 million. During the same period in the prior year, the company posted $0.17 EPS. The business’s quarterly revenue was up 29.2% on a year-over-year basis. Analysts expect that Immunocore will post -0.94 EPS for the current fiscal year.

Institutional Investors Weigh In On Immunocore

Hedge funds have recently modified their holdings of the company. Royal Bank of Canada grew its stake in shares of Immunocore by 45.1% in the 1st quarter. Royal Bank of Canada now owns 44,011 shares of the company’s stock valued at $1,306,000 after buying an additional 13,689 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in Immunocore by 4,696.3% during the second quarter. Caitong International Asset Management Co. Ltd now owns 1,295 shares of the company’s stock worth $41,000 after acquiring an additional 1,268 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in Immunocore in the second quarter valued at $292,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Immunocore in the 2nd quarter valued at $1,621,000. Finally, Assetmark Inc. grew its holdings in shares of Immunocore by 3.7% during the 2nd quarter. Assetmark Inc. now owns 34,958 shares of the company’s stock worth $1,097,000 after purchasing an additional 1,248 shares during the period. Hedge funds and other institutional investors 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.