Immunocore (NASDAQ:IMCR) Downgraded by Wall Street Zen to “Hold”

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

Other analysts have also recently issued reports about the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Immunocore in a research note on Friday, July 17th. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 price target on shares of Immunocore in a report on Monday, April 20th. Zacks Research downgraded shares of Immunocore from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Immunocore in a report on Monday, July 13th. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $56.71.

Immunocore Trading Down 3.5%

Shares of NASDAQ:IMCR opened at $33.77 on Tuesday. The business’s 50-day moving average is $30.84 and its 200 day moving average is $31.30. The company has a debt-to-equity ratio of 1.00, a current ratio of 4.18 and a quick ratio of 4.15. Immunocore has a 1 year low of $27.56 and a 1 year high of $40.71. The firm has a market capitalization of $1.72 billion, a P/E ratio of -61.40 and a beta of 0.73.

Immunocore (NASDAQ:IMCR) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.51. Immunocore had a negative return on equity of 7.07% and a negative net margin of 6.68%.The business had revenue of $106.68 million during the quarter, compared to the consensus estimate of $145.20 million. During the same quarter last year, the company earned $0.10 earnings per share. The company’s quarterly revenue was up 13.6% on a year-over-year basis. On average, research analysts predict that Immunocore will post 0.06 earnings per share for the current fiscal year.

Institutional Trading of Immunocore

Several large investors have recently made changes to their positions in IMCR. Hussman Strategic Advisors Inc. purchased a new stake in shares of Immunocore during the fourth quarter worth about $1,458,000. Eschler Asset Management LLP lifted its stake in Immunocore by 100.0% in the 4th quarter. Eschler Asset Management LLP now owns 80,000 shares of the company’s stock valued at $2,777,000 after buying an additional 40,000 shares in the last quarter. Rhenman & Partners Asset Management AB boosted its holdings in Immunocore by 442.0% in the 4th quarter. Rhenman & Partners Asset Management AB now owns 153,278 shares of the company’s stock worth $5,320,000 after buying an additional 125,000 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Immunocore by 287.2% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,674 shares of the company’s stock worth $955,000 after buying an additional 23,494 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in Immunocore by 18.7% during the 4th quarter. Legal & General Group Plc now owns 149,333 shares of the company’s stock worth $5,183,000 after buying an additional 23,577 shares in the last quarter. 84.50% of the stock is owned by hedge funds and other institutional investors.

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.