Immunocore (NASDAQ:IMCR) Cut to “Hold” at Wall Street Zen

Immunocore (NASDAQ:IMCR) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

A number of other brokerages have also weighed in on IMCR. Morgan Stanley boosted their target price on Immunocore from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. UBS Group set a $55.00 price objective on shares of Immunocore and gave the company a “buy” rating in a research report on Wednesday, January 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Immunocore in a research report on Thursday, January 22nd. HC Wainwright reiterated a “buy” rating and set a $100.00 target price on shares of Immunocore in a research note on Wednesday, October 22nd. Finally, Wells Fargo & Company initiated coverage on Immunocore in a research note on Friday, October 31st. They issued an “overweight” rating and a $60.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.40.

Immunocore Trading Down 1.4%

NASDAQ:IMCR opened at $32.55 on Friday. Immunocore has a 52 week low of $23.15 and a 52 week high of $40.71. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -57.11 and a beta of 0.78. The company’s 50 day moving average price is $35.54 and its 200-day moving average price is $34.56. 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 issued its earnings results on Thursday, November 6th. The company reported $0.02 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $137.29 million. During the same period last year, the business posted $0.17 EPS. The company’s revenue was up 29.2% compared to the same quarter last year. On average, equities research analysts forecast that Immunocore will post -0.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Immunocore

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in Immunocore by 51.6% during 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 increased 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 worth $41,000 after buying an additional 1,268 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new position in shares of Immunocore in the second quarter valued at about $42,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Immunocore by 37.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,120 shares of the company’s stock worth $74,000 after acquiring an additional 572 shares during the period. Finally, Osaic Holdings Inc. grew its position in shares of Immunocore by 117.4% during the second quarter. Osaic Holdings Inc. now owns 3,148 shares of the company’s stock worth $97,000 after purchasing an additional 1,700 shares in the last quarter. 84.50% of the stock is owned by hedge funds and other institutional investors.

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.