Immunocore (NASDAQ:IMCR) Earns “Buy” Rating from Guggenheim

Guggenheim reaffirmed their buy rating on shares of Immunocore (NASDAQ:IMCR) in a research note released on Tuesday, Benzinga reports. They currently have a $92.00 price target on the stock.

A number of other brokerages have also weighed in on IMCR. Oppenheimer reissued an outperform rating and issued a $87.00 target price (up previously from $85.00) on shares of Immunocore in a research report on Thursday, February 29th. HC Wainwright reaffirmed a buy rating and set a $90.00 price target on shares of Immunocore in a research report on Wednesday, March 6th. Needham & Company LLC reaffirmed a buy rating and set a $81.00 price target on shares of Immunocore in a research report on Thursday, April 11th. Mizuho upped their price target on shares of Immunocore from $86.00 to $90.00 and gave the company a buy rating in a research report on Tuesday, March 5th. Finally, Canaccord Genuity Group upped their price target on shares of Immunocore from $60.00 to $63.00 and gave the company a hold rating in a research report on Thursday, February 29th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $81.50.

Immunocore Price Performance

Shares of NASDAQ:IMCR opened at $57.31 on Tuesday. Immunocore has a fifty-two week low of $42.21 and a fifty-two week high of $76.98. The business has a 50-day simple moving average of $63.08 and a two-hundred day simple moving average of $60.61. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.77 and a current ratio of 3.80. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of -49.40 and a beta of 0.89.

Immunocore (NASDAQ:IMCR) last issued its earnings results on Wednesday, February 28th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.12). Immunocore had a negative return on equity of 15.78% and a negative net margin of 22.48%. The business had revenue of $70.16 million during the quarter, compared to analysts’ expectations of $53.25 million. During the same period last year, the firm posted ($0.63) EPS. Immunocore’s quarterly revenue was up 22.4% compared to the same quarter last year. On average, analysts expect that Immunocore will post -1.54 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in IMCR. Bellevue Group AG grew its stake in shares of Immunocore by 4,817.1% during the 4th quarter. Bellevue Group AG now owns 976,054 shares of the company’s stock valued at $66,684,000 after acquiring an additional 956,204 shares during the period. Braidwell LP boosted its stake in Immunocore by 93.8% in the 3rd quarter. Braidwell LP now owns 906,973 shares of the company’s stock worth $47,072,000 after purchasing an additional 438,946 shares during the period. Wellington Management Group LLP boosted its stake in Immunocore by 10.2% in the 4th quarter. Wellington Management Group LLP now owns 4,312,611 shares of the company’s stock worth $294,638,000 after purchasing an additional 399,201 shares during the period. First Turn Management LLC bought a new position in Immunocore in the 4th quarter worth approximately $23,439,000. Finally, Polar Capital Holdings Plc boosted its stake in Immunocore by 490.5% in the 3rd quarter. Polar Capital Holdings Plc now owns 250,000 shares of the company’s stock worth $12,975,000 after purchasing an additional 207,664 shares during the period. 84.50% of the stock is currently owned by institutional investors.

Immunocore Company Profile

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.