Immunocore (NASDAQ:IMCR) Raised to Buy at UBS Group

Immunocore (NASDAQ:IMCR) was upgraded by equities researchers at UBS Group from a “sell” rating to a “buy” rating in a report issued on Wednesday, Marketbeat.com reports. The firm currently has a $55.00 price objective on the stock, up from their prior price objective of $24.00. UBS Group’s price target would suggest a potential upside of 66.41% from the stock’s previous close.

IMCR has been the topic of several other reports. Wells Fargo & Company began coverage on shares of Immunocore in a research report on Friday, October 31st. They set an “overweight” rating and a $60.00 price target on the stock. Morgan Stanley increased their price target on Immunocore from $34.00 to $36.00 and gave the company an “equal weight” rating in a research report on Monday, November 10th. Weiss Ratings restated a “sell (e+)” rating on shares of Immunocore in a research note on Wednesday, October 8th. Wall Street Zen upgraded Immunocore from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, HC Wainwright restated a “buy” rating and set a $100.00 target price on shares of Immunocore in a report on Wednesday, October 22nd. Eight investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.40.

Immunocore Trading Down 2.1%

NASDAQ:IMCR opened at $33.05 on Wednesday. The company has a market cap of $1.67 billion, a P/E ratio of -57.98 and a beta of 0.78. Immunocore has a twelve month low of $23.15 and a twelve month high of $40.71. The business has a 50 day moving average price of $36.02 and a two-hundred day moving average price of $34.49. The company has a quick ratio of 5.97, a current ratio of 6.00 and a debt-to-equity ratio of 0.99.

Immunocore (NASDAQ:IMCR) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.32. Immunocore had a negative net margin of 7.70% and a negative return on equity of 7.67%. The company had revenue of $103.69 million for the quarter, compared to the consensus estimate of $137.29 million. During the same period last year, the company earned $0.17 earnings per share. The firm’s revenue was up 29.2% compared to the same quarter last year. As a group, analysts expect that Immunocore will post -0.94 EPS for the current fiscal year.

Institutional Investors Weigh In On Immunocore

Several hedge funds have recently added to or reduced their stakes in IMCR. GAMMA Investing LLC boosted its position in Immunocore by 51.6% during the third quarter. GAMMA Investing LLC now owns 914 shares of the company’s stock worth $33,000 after purchasing an additional 311 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in shares of Immunocore by 4,696.3% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 1,295 shares of the company’s stock worth $41,000 after buying an additional 1,268 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of Immunocore during the 2nd quarter worth about $42,000. Osaic Holdings Inc. grew its stake in Immunocore by 117.4% in the 2nd quarter. Osaic Holdings Inc. now owns 3,148 shares of the company’s stock valued at $97,000 after buying an additional 1,700 shares during the last quarter. Finally, State of Tennessee Department of Treasury bought a new position in Immunocore in the 2nd quarter valued at about $132,000. 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.