Wall Street Zen Downgrades Immunocore (NASDAQ:IMCR) to Hold

Immunocore (NASDAQ:IMCR) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

Several other equities analysts also recently weighed in on IMCR. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunocore in a research note on Monday, July 13th. Zacks Research cut Immunocore from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. HC Wainwright reiterated a “buy” rating and issued a $100.00 price objective on shares of Immunocore in a research report on Monday, April 20th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Immunocore in a research note on Friday, July 17th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Immunocore currently has an average rating of “Hold” and a consensus target price of $56.71.

Immunocore Stock Down 0.3%

Shares of NASDAQ IMCR opened at $33.42 on Tuesday. The company has a quick ratio of 4.15, a current ratio of 4.18 and a debt-to-equity ratio of 1.00. Immunocore has a 52 week low of $27.56 and a 52 week high of $40.71. The firm has a 50-day moving average price of $31.01 and a 200 day moving average price of $31.30. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of -60.76 and a beta of 0.73.

Immunocore (NASDAQ:IMCR) last issued its earnings results on Wednesday, May 6th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.51. Immunocore had a negative net margin of 6.68% and a negative return on equity of 7.07%. The company had revenue of $106.68 million for the quarter, compared to analyst estimates of $145.20 million. During the same period in the prior year, the business posted $0.10 earnings per share. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. Equities research analysts anticipate that Immunocore will post 0.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Immunocore

Several hedge funds have recently modified their holdings of the company. Millennium Management LLC grew its holdings in shares of Immunocore by 334.3% during the third quarter. Millennium Management LLC now owns 1,265,965 shares of the company’s stock worth $45,993,000 after buying an additional 974,463 shares in the last quarter. Vestal Point Capital LP purchased a new position in shares of Immunocore during the fourth quarter valued at approximately $20,305,000. Janus Henderson Group PLC acquired a new stake in Immunocore during the fourth quarter worth approximately $15,734,000. Bellevue Group AG boosted its position in Immunocore by 14.5% during the third quarter. Bellevue Group AG now owns 2,796,803 shares of the company’s stock worth $101,608,000 after acquiring an additional 354,973 shares during the last quarter. Finally, Tang Capital Management LLC grew its stake in Immunocore by 14.0% in the 4th quarter. Tang Capital Management LLC now owns 2,628,538 shares of the company’s stock worth $91,237,000 after acquiring an additional 322,930 shares during the period. 84.50% of the stock is owned by institutional investors and hedge funds.

About Immunocore

Immunocore plc is a clinical‐stage biotechnology company focused on the development of novel immunotherapies that harness the body’s own T‐cell response to treat cancer and infectious diseases. The company’s proprietary ImmTAC (immune mobilising monoclonal T‐cell receptors against cancer) platform utilizes engineered, soluble T‐cell receptor (TCR) molecules designed to recognise intracellular peptide–HLA complexes. By redirecting and activating T cells against disease‐associated targets, Immunocore aims to address malignancies and persistent viral infections with high unmet medical need.

The company’s most advanced candidate, tebentafusp, is a bispecific ImmTAC molecule that targets gp100, a melanoma‐associated antigen, and has received regulatory approval for the treatment of metastatic uveal melanoma.