Immunocore (NASDAQ:IMCR) Upgraded at Zacks Research

Immunocore (NASDAQ:IMCR) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

Several other equities analysts also recently issued reports on IMCR. Morgan Stanley increased their price objective on shares of Immunocore from $34.00 to $36.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Wells Fargo & Company assumed coverage on shares of Immunocore in a report on Friday, October 31st. They issued an “overweight” rating and a $60.00 price objective on the stock. Guggenheim started coverage on Immunocore in a research report on Thursday, September 18th. They set a “neutral” rating on the stock. UBS Group set a $55.00 price objective on shares of Immunocore and gave the stock a “buy” rating in a research report on Wednesday. Finally, HC Wainwright reiterated a “buy” rating and set a $100.00 target price on shares of Immunocore in a research note on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Immunocore presently has an average rating of “Moderate Buy” and an average price target of $60.40.

Immunocore Stock Performance

Shares of Immunocore stock opened at $33.05 on Wednesday. The company has a market capitalization of $1.67 billion, a PE ratio of -57.98 and a beta of 0.78. The company has a 50-day simple moving average of $36.02 and a two-hundred day simple moving average of $34.49. Immunocore has a one year low of $23.15 and a one year high of $40.71. The company has a debt-to-equity ratio of 0.99, a quick ratio of 5.97 and a current ratio of 6.00.

Immunocore (NASDAQ:IMCR) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.30) by $0.32. Immunocore had a negative net margin of 7.70% and a negative return on equity of 7.67%. The firm had revenue of $103.69 million during the quarter, compared to analyst estimates of $137.29 million. During the same quarter in the previous year, the business posted $0.17 EPS. Immunocore’s revenue was up 29.2% on a year-over-year basis. Research analysts expect that Immunocore will post -0.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its position in shares of Immunocore by 51.6% in the third quarter. GAMMA Investing LLC now owns 914 shares of the company’s stock valued at $33,000 after buying an additional 311 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position in shares of Immunocore by 4,696.3% in the second quarter. Caitong International Asset Management Co. Ltd now owns 1,295 shares of the company’s stock valued at $41,000 after purchasing an additional 1,268 shares during the period. Elevation Point Wealth Partners LLC acquired a new position in shares of Immunocore during the 2nd quarter valued at about $42,000. Osaic Holdings Inc. raised its stake in Immunocore by 117.4% during the second quarter. Osaic Holdings Inc. now owns 3,148 shares of the company’s stock worth $97,000 after purchasing an additional 1,700 shares during the period. Finally, State of Tennessee Department of Treasury acquired a new position in Immunocore in the second quarter valued at $132,000. Hedge funds and other institutional investors own 84.50% of the company’s stock.

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.