Immunocore (NASDAQ:IMCR) Price Target Raised to $35.00

Immunocore (NASDAQ:IMCR) had its target price increased by Mizuho from $34.00 to $35.00 in a research report sent to investors on Monday morning, MarketBeat.com reports. They currently have a neutral rating on the stock.

Other equities research analysts have also issued reports about the company. Weiss Ratings restated a “sell (e+)” rating on shares of Immunocore in a research report on Friday, July 17th. Wall Street Zen lowered Immunocore from a “buy” rating to a “hold” rating in a research report on Tuesday, July 28th. HC Wainwright restated a “buy” rating and set a $100.00 target price on shares of Immunocore in a report on Monday, April 20th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunocore in a research report on Monday, July 13th. Finally, Zacks Research lowered shares of Immunocore from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $56.29.

Immunocore Stock Performance

Shares of IMCR opened at $33.29 on Monday. The company has a debt-to-equity ratio of 1.00, a current ratio of 4.18 and a quick ratio of 4.15. Immunocore has a one year low of $27.56 and a one year high of $40.71. The company has a 50-day simple moving average of $31.43 and a two-hundred day simple moving average of $31.32. The firm has a market capitalization of $1.69 billion, a PE ratio of -60.53 and a beta of 0.74.

Immunocore (NASDAQ:IMCR) last posted its earnings results on Wednesday, May 6th. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.51. The firm had revenue of $106.68 million for the quarter, compared to the consensus estimate of $145.20 million. Immunocore had a negative return on equity of 7.07% and a negative net margin of 6.68%.The business’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.10 EPS. On average, analysts anticipate that Immunocore will post 0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Primecap Management Co. CA grew its stake in shares of Immunocore by 5.5% in the fourth quarter. Primecap Management Co. CA now owns 3,961,880 shares of the company’s stock worth $137,517,000 after acquiring an additional 207,320 shares during the last quarter. Bellevue Group AG boosted its stake in Immunocore by 14.5% in the 3rd quarter. Bellevue Group AG now owns 2,796,803 shares of the company’s stock worth $101,608,000 after purchasing an additional 354,973 shares in the last quarter. Tang Capital Management LLC grew its position in Immunocore by 14.0% during the 4th quarter. Tang Capital Management LLC now owns 2,628,538 shares of the company’s stock valued at $91,237,000 after purchasing an additional 322,930 shares during the last quarter. Millennium Management LLC grew its position in Immunocore by 334.3% during the 3rd quarter. Millennium Management LLC now owns 1,265,965 shares of the company’s stock valued at $45,993,000 after purchasing an additional 974,463 shares during the last quarter. Finally, Armistice Capital LLC raised its holdings in Immunocore by 33.3% in the fourth quarter. Armistice Capital LLC now owns 1,098,000 shares of the company’s stock worth $38,112,000 after buying an additional 274,000 shares during the last quarter. Hedge funds and other institutional investors own 84.50% of the company’s stock.

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.