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

HC Wainwright reissued their buy rating on shares of Immunocore (NASDAQ:IMCR) in a research note released on Monday morning,Benzinga reports. The brokerage currently has a $100.00 target price on the stock.

Several other analysts also recently issued reports on IMCR. Wall Street Zen downgraded Immunocore from a “buy” rating to a “hold” rating in a research note on Tuesday, July 28th. TD Cowen raised Immunocore to a “strong-buy” rating in a report on Monday, August 24th. JPMorgan Chase & Co. initiated coverage on Immunocore in a research report on Friday, August 21st. They set an “overweight” rating and a $50.00 price objective on the stock. Zacks Research downgraded Immunocore from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 3rd. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Immunocore in a report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Immunocore has an average rating of “Moderate Buy” and an average price target of $56.38.

Immunocore Trading Up 2.0%

Shares of IMCR stock opened at $32.61 on Monday. Immunocore has a 12-month low of $27.50 and a 12-month high of $40.71. The company has a market capitalization of $1.68 billion, a PE ratio of -88.13 and a beta of 0.81. The firm has a 50 day moving average price of $32.59 and a two-hundred day moving average price of $31.83. The company has a quick ratio of 4.44, a current ratio of 4.47 and a debt-to-equity ratio of 0.94.

Immunocore (NASDAQ:IMCR) last posted its earnings results on Friday, August 7th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). Immunocore had a negative net margin of 4.20% and a negative return on equity of 4.54%. As a group, analysts predict that Immunocore will post 0.04 earnings per share for the current year.

Institutional Investors Weigh In On Immunocore

A number of large investors have recently bought and sold shares of the company. Braidwell LP acquired a new position in shares of Immunocore during the second quarter worth $16,552,000. Janus Henderson Group PLC boosted its holdings in shares of Immunocore by 30.9% during the 1st quarter. Janus Henderson Group PLC now owns 594,712 shares of the company’s stock valued at $17,919,000 after acquiring an additional 140,308 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Immunocore during the 2nd quarter worth $2,145,000. Stempoint Capital LP bought a new stake in Immunocore during the 1st quarter worth $1,916,000. Finally, Engineers Gate Manager LP grew its position in Immunocore by 334.3% during the 2nd quarter. Engineers Gate Manager LP now owns 60,327 shares of the company’s stock worth $1,915,000 after acquiring an additional 46,435 shares during the last quarter. 84.50% of the stock is currently owned by institutional investors and hedge funds.

About Immunocore

Immunocore Holdings plc is a biotechnology company that develops T cell receptor (TCR) therapeutics designed to direct the immune system against cancer and other serious diseases. Its proprietary ImmTAC platform uses engineered TCRs to recognize disease-associated peptides presented on the surface of cells and recruit T cells to attack those cells.

The company’s lead product, KIMMTRAK (tebentafusp-tebn), is an ImmTAC therapy approved in the United States and other markets for the treatment of certain adults with unresectable or metastatic uveal melanoma who have a specific HLA-A*02:01 genotype.