Immunocore (NASDAQ:IMCR) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. started coverage on shares of Immunocore (NASDAQ:IMCR) in a research report report published on Friday morning, Marketbeat.com reports. The firm issued an overweight rating and a $50.00 target price on the stock.

A number of other equities research analysts have also recently issued reports on IMCR. Mizuho boosted their target price on shares of Immunocore from $34.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Immunocore in a report on Friday, July 17th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunocore in a research report on Monday, July 13th. Morgan Stanley set a $43.00 price target on Immunocore in a research report on Friday, August 7th. Finally, Wall Street Zen lowered Immunocore from a “buy” rating to a “hold” rating in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Immunocore presently has an average rating of “Moderate Buy” and an average target price of $56.38.

Immunocore Price Performance

IMCR opened at $36.88 on Friday. The firm has a 50-day moving average price of $32.97 and a 200-day moving average price of $31.42. Immunocore has a twelve month low of $27.56 and a twelve month high of $40.71. The company has a quick ratio of 4.44, a current ratio of 4.47 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of -99.67 and a beta of 0.74.

Immunocore (NASDAQ:IMCR) last announced its quarterly earnings results on Friday, August 7th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). Immunocore had a negative net margin of 4.20% and a negative return on equity of 4.54%. Equities analysts expect that Immunocore will post 0.13 EPS for the current year.

Institutional Trading of Immunocore

Institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada boosted its holdings in Immunocore by 45.1% in the 1st quarter. Royal Bank of Canada now owns 44,011 shares of the company’s stock valued at $1,306,000 after purchasing an additional 13,689 shares during the period. Geode Capital Management LLC increased its holdings in shares of Immunocore by 40.1% in the second quarter. Geode Capital Management LLC now owns 52,001 shares of the company’s stock worth $1,632,000 after purchasing an additional 14,877 shares during the period. Marshall Wace LLP increased its holdings in shares of Immunocore by 425.8% in the second quarter. Marshall Wace LLP now owns 146,610 shares of the company’s stock worth $4,601,000 after purchasing an additional 118,728 shares during the period. Sei Investments Co. purchased a new stake in shares of Immunocore in the second quarter worth $983,000. Finally, Cubist Systematic Strategies LLC raised its position in shares of Immunocore by 108.0% in the second quarter. Cubist Systematic Strategies LLC now owns 142,757 shares of the company’s stock worth $4,480,000 after buying an additional 74,128 shares in the last quarter. 84.50% of the stock is currently owned by hedge funds and other institutional investors.

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.