Immunocore (NASDAQ:IMCR) Lowered to Hold Rating by Jefferies Financial Group

Jefferies Financial Group lowered shares of Immunocore (NASDAQ:IMCR) from a buy rating to a hold rating in a research report released on Monday, Marketbeat reports. They currently have $33.00 price target on the stock, down from their previous price target of $48.00.

Several other analysts have also recently commented on the company. Wall Street Zen cut 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 research report on Thursday, February 19th. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Immunocore in a research note on Wednesday, February 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Immunocore in a research report on Thursday, January 22nd. Finally, Zacks Research downgraded shares of Immunocore from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 25th. Seven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $59.80.

Immunocore Stock Down 0.9%

Shares of NASDAQ:IMCR opened at $30.57 on Monday. The firm has a market cap of $1.55 billion, a P/E ratio of -43.67 and a beta of 0.78. Immunocore has a 12-month low of $23.15 and a 12-month high of $40.71. The business has a fifty day simple moving average of $32.84 and a 200 day simple moving average of $34.32. The company has a quick ratio of 4.01, a current ratio of 4.04 and a debt-to-equity ratio of 1.03.

Immunocore (NASDAQ:IMCR) last released its quarterly earnings results on Wednesday, February 25th. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.32). Immunocore had a negative net margin of 8.88% and a negative return on equity of 9.20%. The company had revenue of $104.48 million during the quarter, compared to the consensus estimate of $145.48 million. During the same quarter last year, the firm posted ($0.47) EPS. The company’s quarterly revenue was up 24.3% on a year-over-year basis. Analysts predict that Immunocore will post -0.94 earnings per share for the current year.

Insider Buying and Selling at Immunocore

In other news, insider David M. Berman sold 5,965 shares of Immunocore stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $32.35, for a total value of $192,967.75. Following the completion of the sale, the insider owned 5,859 shares in the company, valued at $189,538.65. The trade was a 50.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Bahija Jallal sold 11,474 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 19,137 shares of company stock valued at $619,082. 10.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Immunocore

Several hedge funds and other institutional investors have recently bought and sold shares of IMCR. Primecap Management Co. CA raised its holdings in shares of Immunocore by 5.5% during the fourth quarter. Primecap Management Co. CA now owns 3,961,880 shares of the company’s stock valued at $137,517,000 after purchasing an additional 207,320 shares during the period. Bellevue Group AG grew its stake in shares of Immunocore by 14.5% in the 3rd quarter. Bellevue Group AG now owns 2,796,803 shares of the company’s stock valued at $101,608,000 after buying an additional 354,973 shares during the period. Tang Capital Management LLC increased its position in Immunocore by 14.0% in the 4th quarter. Tang Capital Management LLC now owns 2,628,538 shares of the company’s stock valued at $91,237,000 after buying an additional 322,930 shares in the last quarter. Millennium Management LLC increased its position in Immunocore by 334.3% in the 3rd quarter. Millennium Management LLC now owns 1,265,965 shares of the company’s stock valued at $45,993,000 after buying an additional 974,463 shares in the last quarter. Finally, Armistice Capital LLC raised its stake in Immunocore by 33.3% during the 4th quarter. Armistice Capital LLC now owns 1,098,000 shares of the company’s stock worth $38,112,000 after buying an additional 274,000 shares during the period. 84.50% of the stock is owned by 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.