Mizuho Raises Immunocore (NASDAQ:IMCR) Price Target to $35.00

Immunocore (NASDAQ:IMCR) had its target price raised by research analysts at Mizuho from $34.00 to $35.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Mizuho’s price objective would indicate a potential upside of 3.52% from the stock’s previous close.

Several other analysts also recently issued reports on the company. Zacks Research downgraded Immunocore from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunocore in a research report on Monday, July 13th. Wall Street Zen downgraded shares of Immunocore from a “buy” rating to a “hold” rating in a report on Tuesday, July 28th. HC Wainwright restated a “buy” rating and set a $100.00 price target on shares of Immunocore in a research report on Monday, April 20th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Immunocore in a report on Friday, July 17th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $56.29.

Immunocore Price Performance

Shares of NASDAQ IMCR opened at $33.81 on Monday. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of -61.47 and a beta of 0.73. The business has a 50 day simple moving average of $31.19 and a 200-day simple moving average of $31.32. The company has a current ratio of 4.18, a quick ratio of 4.15 and a debt-to-equity ratio of 1.00. Immunocore has a twelve month low of $27.56 and a twelve month high of $40.71.

Immunocore (NASDAQ:IMCR) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.51. Immunocore had a negative net margin of 6.68% and a negative return on equity of 7.07%. The business had revenue of $106.68 million during the quarter, compared to the consensus estimate of $145.20 million. During the same quarter in the prior year, the firm earned $0.10 EPS. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. As a group, equities research analysts expect that Immunocore will post 0.06 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Immunocore by 2.5% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 48,324 shares of the company’s stock valued at $1,534,000 after purchasing an additional 1,197 shares during the period. GAMMA Investing LLC grew its position in Immunocore by 202.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock valued at $61,000 after buying an additional 1,286 shares in the last quarter. Stempoint Capital LP bought a new position in Immunocore in the 1st quarter valued at about $1,916,000. Janus Henderson Group PLC increased its stake in Immunocore by 30.9% during the 1st quarter. Janus Henderson Group PLC now owns 594,712 shares of the company’s stock valued at $17,919,000 after buying an additional 140,308 shares during the period. Finally, Royal Bank of Canada increased its stake in Immunocore by 5.2% during the 1st quarter. Royal Bank of Canada now owns 44,714 shares of the company’s stock valued at $1,348,000 after buying an additional 2,228 shares during the period. 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.