Brokerages Set Immunocore Holdings PLC Sponsored ADR (NASDAQ:IMCR) PT at $59.80

Shares of Immunocore Holdings PLC Sponsored ADR (NASDAQ:IMCR) have been assigned an average rating of “Hold” from the thirteen ratings firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $59.80.

A number of equities research analysts recently weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Immunocore in a research note on Thursday, January 22nd. Zacks Research downgraded shares of Immunocore from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. HC Wainwright reissued a “buy” rating and issued a $100.00 price objective on shares of Immunocore in a research report on Wednesday, February 4th. Wall Street Zen cut shares of Immunocore from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Jefferies Financial Group downgraded shares of Immunocore from a “buy” rating to a “hold” rating and reduced their target price for the stock from $48.00 to $33.00 in a report on Monday, March 16th.

Immunocore Trading Up 1.7%

Immunocore stock opened at $30.83 on Tuesday. The stock has a 50-day simple moving average of $32.00 and a 200 day simple moving average of $33.89. The stock has a market capitalization of $1.56 billion, a P/E ratio of -44.04 and a beta of 0.83. The company has a debt-to-equity ratio of 1.03, a quick ratio of 4.01 and a current ratio of 4.04. Immunocore has a 52 week low of $23.15 and a 52 week high of $40.71.

Immunocore (NASDAQ:IMCR) last released its quarterly earnings data on Saturday, February 14th. The company reported ($0.60) earnings per share (EPS) for the quarter. Immunocore had a negative net margin of 8.88% and a negative return on equity of 9.20%. The business had revenue of $104.48 million during the quarter. Analysts expect that Immunocore will post -0.94 earnings per share for the current year.

Insiders Place Their Bets

In other Immunocore news, CEO Bahija Jallal sold 11,474 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $32.35, for a total transaction of $371,183.90. Following the completion of the sale, the chief executive officer directly owned 12,343 shares in the company, valued at $399,296.05. This trade represents a 48.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Leger Tina Amber St sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $32.35, for a total value of $32,350.00. Following the completion of the transaction, the insider directly owned 1,119 shares in the company, valued at $36,199.65. The trade was a 47.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 19,137 shares of company stock worth $619,082 over the last three months. Insiders own 10.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D lifted its holdings in shares of Immunocore by 178.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 25,886 shares of the company’s stock worth $940,000 after buying an additional 16,591 shares in the last quarter. Frazier Life Sciences Management L.P. grew its stake in shares of Immunocore by 27.8% in the second quarter. Frazier Life Sciences Management L.P. now owns 384,782 shares of the company’s stock valued at $12,074,000 after acquiring an additional 83,612 shares in the last quarter. Eschler Asset Management LLP acquired a new position in shares of Immunocore in the second quarter valued at about $1,255,000. Candriam S.C.A. increased its position in Immunocore by 100.1% during the third quarter. Candriam S.C.A. now owns 269,729 shares of the company’s stock worth $9,799,000 after acquiring an additional 134,950 shares during the period. Finally, Schroder Investment Management Group raised its stake in Immunocore by 67.6% in the 2nd quarter. Schroder Investment Management Group now owns 109,849 shares of the company’s stock worth $3,447,000 after purchasing an additional 44,310 shares in the last quarter. 84.50% of the stock is owned by institutional investors and hedge funds.

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.