Immunocore (NASDAQ:IMCR) Stock Price Target Cut by Morgan Stanley

Immunocore (NASDAQ:IMCR) had its price target reduced by equities research analysts at Morgan Stanley from $43.00 to $42.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley‘s target price would suggest a potential upside of 40.28% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Mizuho boosted their price objective on Immunocore from $34.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. TD Cowen raised Immunocore to a “strong-buy” rating in a research note on Monday, August 24th. Wall Street Zen cut shares of Immunocore from a “buy” rating to a “hold” rating in a report on Tuesday, July 28th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Immunocore in a research note on Thursday, October 15th. Finally, HC Wainwright decreased their target price on shares of Immunocore from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, November 10th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $52.86.

Immunocore Trading Down 1.8%

Shares of NASDAQ IMCR traded down $0.54 during midday trading on Friday, reaching $29.94. The company had a trading volume of 270,295 shares, compared to its average volume of 568,444. The stock has a market cap of $1.54 billion, a PE ratio of -46.06 and a beta of 0.82. Immunocore has a one year low of $27.50 and a one year high of $40.71. The firm’s fifty day moving average price is $31.07 and its 200-day moving average price is $31.63. The company has a quick ratio of 4.44, a current ratio of 4.62 and a debt-to-equity ratio of 0.94.

Immunocore (NASDAQ:IMCR) last posted its quarterly earnings results on Friday, November 6th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.11). Immunocore had a negative return on equity of 7.96% and a negative net margin of 7.48%. The company had revenue of $102.22 million for the quarter, compared to the consensus estimate of $152.09 million. On average, equities research analysts anticipate that Immunocore will post -0.20 earnings per share for the current year.

Institutional Trading of Immunocore

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its stake in Immunocore by 202.8% in the second quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock worth $61,000 after acquiring an additional 1,286 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in Immunocore during the 3rd quarter valued at $72,000. denkapparat Operations GmbH bought a new position in Immunocore in the 2nd quarter worth $209,000. Juncture Wealth Strategies LLC bought a new position in Immunocore in the 3rd quarter worth $207,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Immunocore in the 2nd quarter worth about $290,000. Hedge funds and other institutional investors own 84.50% of the company’s stock.

Immunocore Company Profile

Immunocore is a biotechnology company that develops T cell receptor (TCR)-based medicines for cancer and other diseases. Its ImmTAX platform is designed to create therapies that direct the body’s T cells toward targets inside cells, including targets that may be difficult for conventional antibody treatments to reach. The company’s marketed medicine, KIMMTRAK (tebentafusp-tebn), is a TCR-based therapy approved in the United States and other markets for certain patients with unresectable or metastatic uveal melanoma.