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

Immunocore (NASDAQ:IMCR)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a research note issued on Wednesday, Benzinga reports. They presently have a $100.00 price target on the stock. HC Wainwright’s price target suggests a potential upside of 176.63% from the company’s current price.

A number of other brokerages have also commented on IMCR. Mizuho dropped their price target on Immunocore from $90.00 to $88.00 and set a “buy” rating for the company in a research note on Monday, May 13th. JPMorgan Chase & Co. cut their price objective on Immunocore from $70.00 to $66.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Canaccord Genuity Group increased their price target on shares of Immunocore from $63.00 to $67.00 and gave the company a “hold” rating in a research report on Thursday, May 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $81.00 price target on shares of Immunocore in a report on Friday, August 9th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $89.00 price objective (up previously from $87.00) on shares of Immunocore in a research note on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Immunocore presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.70.

Immunocore Stock Down 2.0 %

IMCR opened at $36.15 on Wednesday. Immunocore has a twelve month low of $33.04 and a twelve month high of $76.98. The company has a quick ratio of 5.94, a current ratio of 5.96 and a debt-to-equity ratio of 1.22. The firm has a 50 day moving average price of $37.50 and a 200-day moving average price of $50.67. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of -29.63 and a beta of 0.75.

Immunocore (NASDAQ:IMCR) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.25. Immunocore had a negative return on equity of 16.54% and a negative net margin of 22.60%. The business had revenue of $75.40 million during the quarter, compared to analyst estimates of $74.58 million. During the same quarter in the prior year, the business posted ($0.37) EPS. Immunocore’s revenue for the quarter was up 26.2% compared to the same quarter last year. Equities research analysts forecast that Immunocore will post -1.98 earnings per share for the current year.

Institutional Trading of Immunocore

Several hedge funds have recently made changes to their positions in IMCR. DNB Asset Management AS lifted its stake in Immunocore by 35.0% in the 2nd quarter. DNB Asset Management AS now owns 7,211 shares of the company’s stock valued at $244,000 after buying an additional 1,868 shares in the last quarter. NEOS Investment Management LLC purchased a new stake in shares of Immunocore during the 4th quarter worth about $262,000. XTX Topco Ltd purchased a new position in Immunocore in the second quarter valued at approximately $303,000. Tidal Investments LLC purchased a new position in Immunocore in the first quarter valued at about $423,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of Immunocore by 69.8% during the first quarter. China Universal Asset Management Co. Ltd. now owns 6,621 shares of the company’s stock worth $430,000 after purchasing an additional 2,721 shares in the last quarter. Institutional investors and hedge funds 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.