Immunocore (NASDAQ:IMCR) Upgraded at Zacks Research

Zacks Research upgraded shares of Immunocore (NASDAQ:IMCR) from a hold rating to a strong-buy rating in a research report report published on Wednesday,Zacks.com reports.

A number of other equities analysts have also commented on the stock. Guggenheim initiated coverage on shares of Immunocore in a research report on Thursday, September 18th. They issued a “neutral” rating on the stock. Wells Fargo & Company initiated coverage on Immunocore in a report on Friday, October 31st. They set an “overweight” rating and a $60.00 price target for the company. Wall Street Zen upgraded Immunocore from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Weiss Ratings restated a “sell (e+)” rating on shares of Immunocore in a report on Wednesday, October 8th. Finally, 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 note on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.40.

Immunocore Stock Performance

Shares of NASDAQ:IMCR opened at $33.00 on Wednesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 6.00 and a quick ratio of 5.97. The business’s fifty day moving average price is $36.01 and its two-hundred day moving average price is $34.50. Immunocore has a fifty-two week low of $23.15 and a fifty-two week high of $40.71. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of -57.89 and a beta of 0.78.

Immunocore (NASDAQ:IMCR) last issued 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 return on equity of 7.67% and a negative net margin of 7.70%.The company had revenue of $103.69 million during the quarter, compared to analysts’ expectations of $137.29 million. During the same period last year, the business earned $0.17 earnings per share. The business’s revenue was up 29.2% on a year-over-year basis. As a group, analysts predict that Immunocore will post -0.94 EPS for the current fiscal year.

Hedge Funds Weigh In On Immunocore

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