Immunocore (NASDAQ:IMCR) Stock Rating Lowered by Zacks Research

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

IMCR has been the subject of several other reports. Jefferies Financial Group lowered Immunocore from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $48.00 to $33.00 in a research note on Monday, March 16th. Wall Street Zen upgraded Immunocore from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Immunocore in a research report on Tuesday, April 21st. Finally, HC Wainwright reissued a “buy” rating and set a $100.00 target price on shares of Immunocore in a research note on Monday, April 20th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $56.71.

Immunocore Stock Up 1.1%

Shares of Immunocore stock opened at $33.78 on Tuesday. Immunocore has a 1-year low of $27.56 and a 1-year high of $40.71. The company has a market capitalization of $1.72 billion, a P/E ratio of -61.42 and a beta of 0.73. The business’s fifty day moving average price is $29.50 and its two-hundred day moving average price is $31.39. The company has a debt-to-equity ratio of 1.00, a current ratio of 4.18 and a quick ratio of 4.15.

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

Institutional Inflows and Outflows

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