Cantor Fitzgerald Reaffirms “Overweight” Rating for Immunocore (NASDAQ:IMCR)

Cantor Fitzgerald reaffirmed their overweight rating on shares of Immunocore (NASDAQ:IMCR) in a research note released on Monday morning, Benzinga reports.

Other analysts have also recently issued research reports about the stock. HC Wainwright restated a buy rating and set a $100.00 price objective on shares of Immunocore in a research report on Wednesday, August 28th. JPMorgan Chase & Co. lowered their price target on Immunocore from $70.00 to $66.00 and set an overweight rating on the stock in a research report on Wednesday, July 10th. Needham & Company LLC reiterated a buy rating and issued a $81.00 price objective on shares of Immunocore in a report on Friday, August 9th. Mizuho cut their target price on Immunocore from $90.00 to $88.00 and set a buy rating for the company in a research note on Monday, May 13th. Finally, Barclays reduced their price target 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. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $80.70.

Immunocore Price Performance

Immunocore stock opened at $33.02 on Monday. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of -27.07 and a beta of 0.73. The company has a quick ratio of 5.15, a current ratio of 5.17 and a debt-to-equity ratio of 1.31. The business has a 50-day simple moving average of $37.38 and a 200 day simple moving average of $47.95. Immunocore has a 52 week low of $32.37 and a 52 week high of $76.98.

Immunocore (NASDAQ:IMCR) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.25. The company had revenue of $75.40 million during the quarter, compared to analyst estimates of $74.58 million. Immunocore had a negative return on equity of 14.68% and a negative net margin of 19.16%. Immunocore’s revenue was up 26.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.37) earnings per share. On average, research analysts forecast that Immunocore will post -1.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Immunocore

Several institutional investors have recently added to or reduced their stakes in the company. DNB Asset Management AS raised its stake in shares of Immunocore by 35.0% during the second quarter. DNB Asset Management AS now owns 7,211 shares of the company’s stock valued at $244,000 after acquiring an additional 1,868 shares during the last quarter. NEOS Investment Management LLC bought a new stake in shares of Immunocore in the 4th quarter worth approximately $262,000. XTX Topco Ltd bought a new stake in shares of Immunocore in the 2nd quarter worth approximately $303,000. Tidal Investments LLC bought a new position in shares of Immunocore during the first quarter valued at approximately $423,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in Immunocore by 69.8% in the first quarter. China Universal Asset Management Co. Ltd. now owns 6,621 shares of the company’s stock worth $430,000 after acquiring an additional 2,721 shares during the period. 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.