Immunocore’s (IMCR) Buy Rating Reaffirmed at Guggenheim

Immunocore (NASDAQ:IMCR)‘s stock had its “buy” rating reissued by analysts at Guggenheim in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $92.00 price target on the stock. Guggenheim’s price target points to a potential upside of 60.45% from the stock’s previous close.

Several other brokerages have also issued reports on IMCR. Mizuho increased their target price on Immunocore from $86.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Needham & Company LLC reissued a “buy” rating and set a $81.00 price target on shares of Immunocore in a report on Thursday, April 11th. Canaccord Genuity Group raised their price target on Immunocore from $60.00 to $63.00 and gave the company a “hold” rating in a report on Thursday, February 29th. Oppenheimer reiterated an “outperform” rating and issued a $87.00 price target (up previously from $85.00) on shares of Immunocore in a research report on Thursday, February 29th. Finally, JPMorgan Chase & Co. boosted their target price on Immunocore from $60.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.50.

Immunocore Price Performance

NASDAQ IMCR traded up $1.52 during trading on Tuesday, reaching $57.34. The company’s stock had a trading volume of 94,126 shares, compared to its average volume of 481,596. The stock has a market capitalization of $2.86 billion, a PE ratio of -49.07 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.80 and a quick ratio of 3.77. The firm has a fifty day moving average of $63.38 and a 200 day moving average of $60.54. Immunocore has a one year low of $42.21 and a one year high of $76.98.

Immunocore (NASDAQ:IMCR) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.12). The firm had revenue of $70.16 million during the quarter, compared to analysts’ expectations of $53.25 million. Immunocore had a negative return on equity of 15.78% and a negative net margin of 22.48%. Immunocore’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.63) earnings per share. Analysts expect that Immunocore will post -1.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Immunocore

Hedge funds have recently made changes to their positions in the business. Legato Capital Management LLC raised its stake in shares of Immunocore by 61.7% in the 4th quarter. Legato Capital Management LLC now owns 7,235 shares of the company’s stock valued at $494,000 after acquiring an additional 2,762 shares during the period. Graham Capital Management L.P. acquired a new stake in Immunocore during the 3rd quarter valued at $411,000. Qube Research & Technologies Ltd grew its holdings in Immunocore by 102.0% during the 3rd quarter. Qube Research & Technologies Ltd now owns 125,199 shares of the company’s stock valued at $6,498,000 after purchasing an additional 63,232 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in Immunocore by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 2,656 shares of the company’s stock valued at $181,000 after purchasing an additional 674 shares in the last quarter. Finally, FMR LLC grew its holdings in Immunocore by 4.4% during the 3rd quarter. FMR LLC now owns 2,136,223 shares of the company’s stock valued at $110,870,000 after purchasing an additional 90,116 shares in the last quarter. Hedge funds and other institutional investors own 84.50% of the company’s stock.

Immunocore Company Profile

Immunocore Holdings plc, a commercial-stage biotechnology company, engages in the development of immunotherapies for the treatment of cancer, infectious, and autoimmune diseases. The company offers KIMMTRAK for the treatment of patients with unresectable or metastatic uveal melanoma. It also develops other programs for oncology, including tebentafusp that is in Phase 2/3 clinical trial to treat advanced cutaneous melanoma.