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

Immunocore (NASDAQ:IMCR) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other brokerages have also weighed in on IMCR. HC Wainwright reissued a “buy” rating and issued a $100.00 price objective on shares of Immunocore in a report on Monday, June 2nd. Mizuho lowered their price target on Immunocore from $38.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, April 7th. Deutsche Bank Aktiengesellschaft initiated coverage on Immunocore in a research note on Tuesday, May 27th. They set a “buy” rating and a $65.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and set a $71.00 target price on shares of Immunocore in a research note on Thursday, April 10th. Finally, Oppenheimer raised their price target on shares of Immunocore from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $58.89.

Immunocore Stock Down 2.7%

IMCR stock opened at $34.68 on Friday. The company has a current ratio of 3.78, a quick ratio of 3.76 and a debt-to-equity ratio of 1.03. The firm has a 50 day simple moving average of $31.06 and a 200-day simple moving average of $30.27. The company has a market capitalization of $1.74 billion, a P/E ratio of -36.50 and a beta of 0.83. Immunocore has a twelve month low of $23.15 and a twelve month high of $41.54.

Immunocore (NASDAQ:IMCR) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.45. The firm had revenue of $125.13 million for the quarter, compared to the consensus estimate of $108.82 million. Immunocore had a negative net margin of 15.87% and a negative return on equity of 12.84%. The firm’s revenue was up 33.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.49) EPS. On average, equities research analysts predict that Immunocore will post -0.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. GF Fund Management CO. LTD. bought a new stake in shares of Immunocore during the fourth quarter valued at approximately $25,000. Oppenheimer Asset Management Inc. acquired a new stake in Immunocore in the 1st quarter valued at approximately $225,000. Checkpoint Capital L.P. bought a new stake in Immunocore during the 1st quarter valued at $267,000. Banque Transatlantique SA bought a new stake in Immunocore during the 1st quarter valued at $278,000. Finally, NEOS Investment Management LLC boosted its position in Immunocore by 10.9% during the 4th quarter. NEOS Investment Management LLC now owns 11,194 shares of the company’s stock worth $330,000 after acquiring an additional 1,102 shares during the period. 84.50% of the stock is owned by institutional investors and hedge funds.

About Immunocore

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.