HC Wainwright Reiterates Buy Rating for Immunocore (NASDAQ:IMCR)

Immunocore (NASDAQ:IMCR)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They presently have a $100.00 price target on the stock. HC Wainwright’s target price would suggest a potential upside of 223.42% from the stock’s current price. HC Wainwright also issued estimates for Immunocore’s FY2030 earnings at $11.26 EPS.

Other equities analysts have also issued research reports about the stock. Zacks Research raised shares of Immunocore from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 7th. Morgan Stanley boosted their price objective on shares of Immunocore from $34.00 to $36.00 and gave the stock an “equal weight” rating in a 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 reissued a “sell (e+)” rating on shares of Immunocore in a research report on Thursday, January 22nd. Finally, Wall Street Zen lowered Immunocore from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $60.40.

Immunocore Price Performance

NASDAQ IMCR opened at $30.92 on Wednesday. The stock has a market capitalization of $1.56 billion, a PE ratio of -54.25 and a beta of 0.78. The stock has a 50-day simple moving average of $34.92 and a 200 day simple moving average of $34.45. The company has a debt-to-equity ratio of 0.99, a quick ratio of 5.97 and a current ratio of 6.00. Immunocore has a twelve month low of $23.15 and a twelve month high of $40.71.

Immunocore (NASDAQ:IMCR) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.02 EPS for the quarter, topping 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 analyst estimates of $137.29 million. During the same period in the previous year, the company earned $0.17 earnings per share. The company’s quarterly revenue was up 29.2% compared to the same quarter last year. Research analysts anticipate that Immunocore will post -0.94 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in shares of Immunocore by 51.6% in the 3rd quarter. GAMMA Investing LLC now owns 914 shares of the company’s stock valued at $33,000 after purchasing an additional 311 shares during the period. DNB Asset Management AS boosted its stake in Immunocore by 6.4% in the 3rd quarter. DNB Asset Management AS now owns 8,116 shares of the company’s stock valued at $295,000 after buying an additional 488 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Immunocore by 37.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,120 shares of the company’s stock valued at $74,000 after buying an additional 572 shares in the last quarter. R Squared Ltd grew its position in Immunocore by 7.4% in the fourth quarter. R Squared Ltd now owns 8,849 shares of the company’s stock valued at $307,000 after acquiring an additional 606 shares during the period. Finally, Virtus Investment Advisers LLC raised its stake in Immunocore by 5.3% during the second quarter. Virtus Investment Advisers LLC now owns 12,472 shares of the company’s stock worth $391,000 after acquiring an additional 625 shares in the last quarter. 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.