Immunocore (NASDAQ:IMCR) Given Buy Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Immunocore (NASDAQ:IMCR) in a research report report published on Tuesday morning,Benzinga reports. HC Wainwright currently has a $100.00 price target on the stock.

Several other analysts have also recently commented on IMCR. UBS Group set a $55.00 price target on shares of Immunocore and gave the stock a “buy” rating in a report on Wednesday, January 7th. Jefferies Financial Group cut shares of Immunocore from a “buy” rating to a “hold” rating and decreased their price target for the stock from $48.00 to $33.00 in a report on Monday, March 16th. Wall Street Zen cut shares of Immunocore from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Mizuho set a $38.00 price target on shares of Immunocore in a report on Thursday, February 19th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Immunocore in a report on Thursday, January 22nd. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Immunocore currently has a consensus rating of “Hold” and an average price target of $60.89.

Immunocore Stock Performance

Shares of IMCR opened at $31.69 on Tuesday. Immunocore has a one year low of $26.37 and a one year high of $40.71. The company has a 50-day moving average of $31.67 and a two-hundred day moving average of $33.76. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of -45.27 and a beta of 0.83. The company has a debt-to-equity ratio of 1.03, a current ratio of 4.04 and a quick ratio of 4.01.

Immunocore (NASDAQ:IMCR) last announced its earnings results on Saturday, February 14th. The company reported ($0.60) EPS for the quarter. Immunocore had a negative return on equity of 9.20% and a negative net margin of 8.88%.The firm had revenue of $104.48 million during the quarter. On average, equities research analysts expect that Immunocore will post -0.94 earnings per share for the current year.

Insider Activity at Immunocore

In related news, insider David M. Berman sold 5,965 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $32.35, for a total transaction of $192,967.75. Following the transaction, the insider owned 5,859 shares of the company’s stock, valued at approximately $189,538.65. This trade represents a 50.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Leger Tina Amber St sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $32.35, for a total transaction of $32,350.00. Following the transaction, the insider directly owned 1,119 shares in the company, valued at approximately $36,199.65. The trade was a 47.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 19,137 shares of company stock valued at $619,082. 10.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Immunocore

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IMCR. Royal Bank of Canada raised its position in Immunocore by 45.1% during the first quarter. Royal Bank of Canada now owns 44,011 shares of the company’s stock valued at $1,306,000 after acquiring an additional 13,689 shares in the last quarter. Geode Capital Management LLC raised its position in Immunocore by 40.1% during the second quarter. Geode Capital Management LLC now owns 52,001 shares of the company’s stock valued at $1,632,000 after acquiring an additional 14,877 shares in the last quarter. Marshall Wace LLP raised its position in Immunocore by 425.8% during the second quarter. Marshall Wace LLP now owns 146,610 shares of the company’s stock valued at $4,601,000 after acquiring an additional 118,728 shares in the last quarter. Sei Investments Co. bought a new position in Immunocore during the second quarter valued at approximately $983,000. Finally, Cubist Systematic Strategies LLC raised its position in Immunocore by 108.0% during the second quarter. Cubist Systematic Strategies LLC now owns 142,757 shares of the company’s stock valued at $4,480,000 after acquiring an additional 74,128 shares in the last quarter. Institutional investors own 84.50% of the company’s stock.

Immunocore Company Profile

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.