Immunocore (NASDAQ:IMCR) Earns “Buy” Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Immunocore (NASDAQ:IMCR) in a report released on Tuesday, Benzinga reports. They currently have a $100.00 price target on the stock.

IMCR has been the topic of several other reports. Barclays decreased their target price on shares of Immunocore from $92.00 to $66.00 and set an overweight rating on the stock in a research report on Friday, August 9th. Cantor Fitzgerald reiterated an overweight rating on shares of Immunocore in a research report on Monday, September 9th. Needham & Company LLC reissued a buy rating and issued a $81.00 target price on shares of Immunocore in a research note on Friday, August 9th. JPMorgan Chase & Co. cut their target price on shares of Immunocore from $70.00 to $66.00 and set an overweight rating for the company in a research note on Wednesday, July 10th. Finally, Oppenheimer reissued an outperform rating and issued a $89.00 target price (up previously from $87.00) on shares of Immunocore in a research note on Friday, August 9th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $80.40.

Immunocore Stock Performance

Shares of IMCR opened at $34.21 on Tuesday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 5.15 and a current ratio of 5.17. The stock has a market capitalization of $1.71 billion, a P/E ratio of -28.04 and a beta of 0.73. The company’s fifty day moving average is $37.07 and its two-hundred day moving average is $46.82. Immunocore has a 1 year low of $32.37 and a 1 year high of $76.98.

Immunocore (NASDAQ:IMCR) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.25. The company had revenue of $75.40 million for the quarter, compared to analysts’ expectations of $74.58 million. Immunocore had a negative net margin of 19.16% and a negative return on equity of 14.68%. Immunocore’s revenue was up 26.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.37) EPS. On average, sell-side analysts predict that Immunocore will post -1.79 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Frazier Life Sciences Management L.P. acquired a new stake in Immunocore during the 2nd quarter worth approximately $3,686,000. The Manufacturers Life Insurance Company increased its position in Immunocore by 37.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 121,753 shares of the company’s stock worth $4,126,000 after purchasing an additional 33,003 shares in the last quarter. Millennium Management LLC increased its position in Immunocore by 124.4% during the 2nd quarter. Millennium Management LLC now owns 600,954 shares of the company’s stock worth $20,366,000 after purchasing an additional 333,167 shares in the last quarter. Armistice Capital LLC increased its position in Immunocore by 495.1% during the 2nd quarter. Armistice Capital LLC now owns 976,000 shares of the company’s stock worth $33,077,000 after purchasing an additional 812,000 shares in the last quarter. Finally, Squarepoint Ops LLC increased its position in Immunocore by 2,265.8% during the 2nd quarter. Squarepoint Ops LLC now owns 73,766 shares of the company’s stock worth $2,500,000 after purchasing an additional 70,648 shares in the last quarter. Institutional investors and hedge funds own 84.50% of the company’s stock.

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.