Immunocore (NASDAQ:IMCR) Rating Increased to Strong-Buy at UBS Group

UBS Group upgraded shares of Immunocore (NASDAQ:IMCR) from a strong sell rating to a strong-buy rating in a report issued on Wednesday, MarketBeat reports. They currently have $55.00 price target on the stock.

IMCR has been the topic of a number of other reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Immunocore in a research report on Wednesday, October 8th. Guggenheim initiated coverage on shares of Immunocore in a report on Thursday, September 18th. They issued a “neutral” rating on the stock. Wells Fargo & Company assumed coverage on shares of Immunocore in a report on Friday, October 31st. They set an “overweight” rating and a $60.00 target price for the company. Morgan Stanley boosted their price target on Immunocore from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $100.00 price objective on shares of Immunocore in a research report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.40.

Immunocore Stock Performance

Shares of IMCR opened at $33.76 on Wednesday. Immunocore has a one year low of $23.15 and a one year high of $40.71. The company has a 50-day simple moving average of $36.00 and a two-hundred day simple moving average of $34.50. The company has a debt-to-equity ratio of 0.99, a current ratio of 6.00 and a quick ratio of 5.97. The firm has a market capitalization of $1.71 billion, a PE ratio of -59.23 and a beta of 0.78.

Immunocore (NASDAQ:IMCR) last released its earnings results on Thursday, November 6th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.32. The company had revenue of $103.69 million during the quarter, compared to analysts’ expectations of $137.29 million. Immunocore had a negative return on equity of 7.67% and a negative net margin of 7.70%.The firm’s revenue for the quarter was up 29.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.17 EPS. On average, analysts anticipate that Immunocore will post -0.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of IMCR. Primecap Management Co. CA increased its holdings in Immunocore by 40.8% in the 2nd quarter. Primecap Management Co. CA now owns 3,771,474 shares of the company’s stock worth $118,349,000 after buying an additional 1,092,824 shares in the last quarter. Bellevue Group AG grew its stake in shares of Immunocore by 14.5% in the third quarter. Bellevue Group AG now owns 2,796,803 shares of the company’s stock worth $101,608,000 after acquiring an additional 354,973 shares during the period. Millennium Management LLC raised its holdings in shares of Immunocore by 334.3% during the third quarter. Millennium Management LLC now owns 1,265,965 shares of the company’s stock valued at $45,993,000 after purchasing an additional 974,463 shares during the last quarter. BVF Inc. IL purchased a new position in shares of Immunocore during the second quarter valued at approximately $32,142,000. Finally, Armistice Capital LLC lifted its position in Immunocore by 21.5% during the third quarter. Armistice Capital LLC now owns 824,000 shares of the company’s stock valued at $29,936,000 after purchasing an additional 146,000 shares during the period. Hedge funds and other 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.