Guggenheim Reaffirms “Buy” Rating for Immunocore (NASDAQ:IMCR)

Guggenheim reiterated their buy rating on shares of Immunocore (NASDAQ:IMCR) in a research note issued to investors on Tuesday, Benzinga reports. Guggenheim currently has a $92.00 price objective on the stock.

A number of other analysts have also recently commented on the stock. Canaccord Genuity Group increased their price target on shares of Immunocore from $60.00 to $63.00 and gave the company a hold rating in a research note on Thursday, February 29th. Needham & Company LLC reiterated a buy rating and set a $81.00 price target on shares of Immunocore in a report on Thursday, April 11th. Mizuho raised their price objective on Immunocore from $86.00 to $90.00 and gave the company a buy rating in a research report on Tuesday, March 5th. Oppenheimer reissued an outperform rating and set a $87.00 target price (up from $85.00) on shares of Immunocore in a report on Thursday, February 29th. Finally, JPMorgan Chase & Co. raised their price target on Immunocore from $60.00 to $70.00 and gave the company an overweight rating in a report on Wednesday, March 20th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Immunocore has an average rating of Moderate Buy and a consensus target price of $81.50.

Immunocore Price Performance

Immunocore stock opened at $58.00 on Tuesday. The firm has a 50-day moving average of $62.57 and a 200-day moving average of $60.58. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.77 and a current ratio of 3.80. Immunocore has a one year low of $42.21 and a one year high of $76.98.

Immunocore (NASDAQ:IMCR) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.12). The company had revenue of $70.16 million during the quarter, compared to the consensus estimate of $53.25 million. Immunocore had a negative net margin of 22.48% and a negative return on equity of 15.78%. The firm’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.63) earnings per share. On average, equities analysts anticipate that Immunocore will post -1.54 earnings per share for the current year.

Institutional Investors Weigh In On Immunocore

A number of hedge funds and other institutional investors have recently made changes to their positions in IMCR. China Universal Asset Management Co. Ltd. increased its stake in Immunocore by 103.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 836 shares of the company’s stock worth $43,000 after acquiring an additional 426 shares during the period. IFP Advisors Inc increased its position in shares of Immunocore by 32.9% in the third quarter. IFP Advisors Inc now owns 2,397 shares of the company’s stock worth $124,000 after purchasing an additional 594 shares during the period. Exchange Traded Concepts LLC raised its stake in Immunocore by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 2,656 shares of the company’s stock valued at $181,000 after purchasing an additional 674 shares in the last quarter. JGP Global Gestao de Recursos Ltda. bought a new stake in Immunocore during the fourth quarter worth about $230,000. Finally, NEOS Investment Management LLC acquired a new stake in Immunocore during the fourth quarter worth about $262,000. 84.50% of the stock is currently owned by institutional investors and hedge funds.

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.