Immunocore’s (IMCR) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Immunocore (NASDAQ:IMCR) in a report released on Monday,Benzinga reports. The brokerage currently has a $100.00 price target on the stock.

IMCR has been the subject of a number of other reports. UBS Group set a $55.00 price objective on Immunocore and gave the stock a “buy” rating in a research report on Wednesday, January 7th. Needham & Company LLC lifted their price objective on Immunocore from $71.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Wall Street Zen lowered Immunocore from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Jefferies Financial Group lowered Immunocore from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $48.00 to $33.00 in a research report on Monday, March 16th. Finally, Zacks Research lowered Immunocore from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $60.89.

Immunocore Stock Up 0.0%

Shares of IMCR stock opened at $31.46 on Monday. The stock has a market cap of $1.59 billion, a P/E ratio of -44.94 and a beta of 0.83. Immunocore has a one year low of $27.44 and a one year high of $40.71. The stock has a fifty day moving average price of $31.63 and a 200 day moving average price of $33.65. 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 issued its earnings results on Saturday, February 14th. The company reported ($0.60) EPS for the quarter. The firm had revenue of $104.48 million during the quarter. Immunocore had a negative return on equity of 9.20% and a negative net margin of 8.88%. Analysts predict that Immunocore will post -0.97 earnings per share for the current year.

Insider Activity

In other news, CEO Bahija Jallal sold 11,474 shares of Immunocore stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $32.35, for a total transaction of $371,183.90. Following the transaction, the chief executive officer owned 12,343 shares in the company, valued at $399,296.05. The trade was a 48.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider David M. Berman sold 5,965 shares of Immunocore stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $32.35, for a total value of $192,967.75. Following the transaction, the insider owned 5,859 shares in the company, valued at $189,538.65. This trade represents a 50.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 19,137 shares of company stock worth $619,082 in the last 90 days. Corporate insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On Immunocore

Large investors have recently bought and sold shares of the company. Leonteq Securities AG acquired a new position in Immunocore during the 4th quarter worth approximately $30,000. GAMMA Investing LLC boosted its position in Immunocore by 51.6% during the 3rd quarter. GAMMA Investing LLC now owns 914 shares of the company’s stock worth $33,000 after acquiring an additional 311 shares during the last quarter. Harbour Investments Inc. boosted its position in Immunocore by 60.2% during the 4th quarter. Harbour Investments Inc. now owns 1,033 shares of the company’s stock worth $36,000 after acquiring an additional 388 shares during the last quarter. Rockefeller Capital Management L.P. bought a new stake in shares of Immunocore during the 4th quarter worth approximately $47,000. Finally, Arax Advisory Partners raised its stake in shares of Immunocore by 302.9% during the 4th quarter. Arax Advisory Partners now owns 1,386 shares of the company’s stock worth $48,000 after purchasing an additional 1,042 shares in the last quarter. Institutional investors and hedge funds 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.