HC Wainwright Reaffirms Buy Rating for Immunocore (NASDAQ:IMCR)

Immunocore (NASDAQ:IMCR)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a report issued on Thursday, Benzinga reports. They presently have a $100.00 price objective on the stock. HC Wainwright’s price objective would indicate a potential upside of 212.30% from the company’s previous close.

A number of other equities analysts have also recently commented on IMCR. Barclays reduced their target price on Immunocore from $92.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Guggenheim downgraded Immunocore from a “buy” rating to a “neutral” rating in a research note on Monday, October 7th. UBS Group assumed coverage on Immunocore in a report on Thursday. They issued a “sell” rating and a $24.00 price objective on the stock. Morgan Stanley dropped their target price on shares of Immunocore from $80.00 to $74.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Finally, Oppenheimer reissued an “outperform” rating and issued a $89.00 price target (up from $87.00) on shares of Immunocore in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $75.17.

Immunocore Price Performance

Immunocore stock opened at $32.02 on Thursday. 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 company’s fifty day moving average price is $33.58 and its 200 day moving average price is $41.47. The stock has a market capitalization of $1.60 billion, a P/E ratio of -26.25 and a beta of 0.72. Immunocore has a 1 year low of $29.72 and a 1 year high of $76.98.

Immunocore (NASDAQ:IMCR) last released its earnings results on Thursday, August 8th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.25. The business had revenue of $75.40 million during 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%. The company’s quarterly revenue was up 26.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.37) earnings per share. As a group, equities research analysts anticipate that Immunocore will post -1.67 earnings per share for the current fiscal year.

Institutional Trading of Immunocore

Several hedge funds have recently made changes to their positions in IMCR. Hennion & Walsh Asset Management Inc. lifted its holdings in Immunocore by 71.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 21,232 shares of the company’s stock valued at $1,380,000 after acquiring an additional 8,848 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Immunocore by 2.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 87,614 shares of the company’s stock valued at $5,695,000 after purchasing an additional 1,830 shares during the period. Capstone Investment Advisors LLC acquired a new position in shares of Immunocore in the 1st quarter valued at $1,227,000. FORA Capital LLC purchased a new position in shares of Immunocore during the 1st quarter worth $777,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Immunocore by 86.3% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 342,000 shares of the company’s stock worth $22,230,000 after purchasing an additional 158,455 shares during the last quarter. Hedge funds and other institutional investors own 84.50% of the company’s stock.

Immunocore Company Profile

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.