Wall Street Zen Upgrades Immunocore (NASDAQ:IMCR) to “Buy”

Immunocore (NASDAQ:IMCR) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Monday.

Several other analysts have also recently weighed in on the stock. Zacks Research cut shares of Immunocore from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunocore in a research note on Monday, July 13th. HC Wainwright reissued a “buy” rating and issued a $100.00 target price on shares of Immunocore in a report on Monday, April 20th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Immunocore in a report on Tuesday, April 21st. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Immunocore presently has a consensus rating of “Hold” and an average price target of $56.71.

Immunocore Stock Performance

Shares of NASDAQ:IMCR opened at $34.48 on Monday. The company has a debt-to-equity ratio of 1.00, a current ratio of 4.18 and a quick ratio of 4.15. The business’s fifty day moving average price is $30.33 and its two-hundred day moving average price is $31.26. Immunocore has a fifty-two week low of $27.56 and a fifty-two week high of $40.71. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of -62.69 and a beta of 0.73.

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

Institutional Investors Weigh In On Immunocore

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IMCR. Leonteq Securities AG bought a new position in shares of Immunocore in the fourth quarter worth about $30,000. Harbour Investments Inc. increased its holdings in shares of Immunocore by 60.2% in the fourth quarter. Harbour Investments Inc. now owns 1,033 shares of the company’s stock valued at $36,000 after purchasing an additional 388 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new stake in shares of Immunocore in the fourth quarter valued at approximately $47,000. Arax Advisory Partners raised its position in Immunocore by 302.9% in the 4th quarter. Arax Advisory Partners now owns 1,386 shares of the company’s stock worth $48,000 after purchasing an additional 1,042 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Immunocore by 202.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock worth $61,000 after buying an additional 1,286 shares in the last quarter. Institutional investors and hedge funds 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.