Immunocore (NASDAQ:IMCR) Lowered to “Hold” Rating by Zacks Research

Zacks Research lowered shares of Immunocore (NASDAQ:IMCR) from a strong-buy rating to a hold rating in a report issued on Thursday,Zacks reports.

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

Immunocore Trading Down 3.8%

NASDAQ:IMCR opened at $36.13 on Thursday. The company has a market capitalization of $1.86 billion, a P/E ratio of -97.65 and a beta of 0.74. The company has a current ratio of 4.47, a quick ratio of 4.44 and a debt-to-equity ratio of 0.94. Immunocore has a 12 month low of $27.56 and a 12 month high of $40.71. The firm has a fifty day simple moving average of $34.49 and a 200-day simple moving average of $31.75.

Immunocore (NASDAQ:IMCR) last released its earnings results on Friday, August 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). Immunocore had a negative net margin of 4.20% and a negative return on equity of 4.54%. On average, equities research analysts anticipate that Immunocore will post 0.06 earnings per share for the current year.

Institutional Investors Weigh In On Immunocore

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IMCR. Leonteq Securities AG purchased a new position in shares of Immunocore during the 4th quarter valued at about $30,000. Harbour Investments Inc. boosted its stake in shares of Immunocore by 60.2% in the fourth quarter. Harbour Investments Inc. now owns 1,033 shares of the company’s stock worth $36,000 after buying an additional 388 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new stake in shares of Immunocore in the fourth quarter worth about $47,000. Arax Advisory Partners grew its holdings in Immunocore by 302.9% during the fourth quarter. Arax Advisory Partners now owns 1,386 shares of the company’s stock worth $48,000 after acquiring an additional 1,042 shares during the period. Finally, GAMMA Investing LLC raised its position in Immunocore by 202.8% during the second quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock valued at $61,000 after acquiring an additional 1,286 shares in the last quarter. 84.50% of the stock is owned by institutional investors and hedge funds.

Immunocore Company Profile

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.