Immunocore’s (IMCR) “Buy” Rating Reiterated at HC Wainwright

Immunocore (NASDAQ:IMCR)‘s stock had its “buy” rating restated by HC Wainwright in a research note issued on Tuesday, Benzinga reports. They currently have a $100.00 target price on the stock. HC Wainwright’s price objective suggests a potential upside of 203.03% from the company’s current price.

Several other analysts also recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and issued a $81.00 target price on shares of Immunocore in a report on Friday, August 9th. Oppenheimer reiterated an “outperform” rating and issued a $89.00 price objective (up previously from $87.00) on shares of Immunocore in a research note on Friday, August 9th. Cantor Fitzgerald restated an “overweight” rating on shares of Immunocore in a research report on Monday, September 9th. Barclays reduced their price target on shares of Immunocore from $92.00 to $66.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Immunocore from $70.00 to $66.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Immunocore has a consensus rating of “Moderate Buy” and a consensus target price of $80.40.

Immunocore Stock Performance

Shares of Immunocore stock opened at $33.00 on Tuesday. The firm has a market capitalization of $1.65 billion, a P/E ratio of -27.05 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. Immunocore has a 52 week low of $32.37 and a 52 week high of $76.98. The firm’s 50 day moving average is $37.23 and its two-hundred day moving average is $47.14.

Immunocore (NASDAQ:IMCR) last posted its earnings results on Thursday, August 8th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.25. Immunocore had a negative net margin of 19.16% and a negative return on equity of 14.68%. The firm had revenue of $75.40 million for the quarter, compared to the consensus estimate of $74.58 million. During the same period last year, the firm posted ($0.37) EPS. The company’s revenue was up 26.2% on a year-over-year basis. Research analysts forecast that Immunocore will post -1.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in IMCR. Frazier Life Sciences Management L.P. purchased a new stake in Immunocore in the 2nd quarter valued at approximately $3,686,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Immunocore by 37.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 121,753 shares of the company’s stock valued at $4,126,000 after buying an additional 33,003 shares during the period. Millennium Management LLC lifted its holdings in shares of Immunocore by 124.4% in the 2nd quarter. Millennium Management LLC now owns 600,954 shares of the company’s stock valued at $20,366,000 after buying an additional 333,167 shares during the period. Armistice Capital LLC boosted its stake in shares of Immunocore by 495.1% in the second quarter. Armistice Capital LLC now owns 976,000 shares of the company’s stock valued at $33,077,000 after buying an additional 812,000 shares in the last quarter. Finally, Squarepoint Ops LLC grew its holdings in Immunocore by 2,265.8% during the second quarter. Squarepoint Ops LLC now owns 73,766 shares of the company’s stock worth $2,500,000 after acquiring an additional 70,648 shares during the period. 84.50% of the stock is currently owned by institutional investors and hedge funds.

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.