Immunocore’s (IMCR) Buy Rating Reaffirmed at Guggenheim

Immunocore (NASDAQ:IMCR)‘s stock had its “buy” rating reaffirmed by analysts at Guggenheim in a research note issued on Tuesday, Benzinga reports. They currently have a $92.00 price target on the stock. Guggenheim’s target price would indicate a potential upside of 60.45% from the company’s current price.

A number of other analysts have also weighed in on IMCR. HC Wainwright reissued a “buy” rating and issued a $90.00 price objective on shares of Immunocore in a research report on Wednesday, March 6th. Needham & Company LLC reissued a “buy” rating and issued a $81.00 price objective on shares of Immunocore in a research report on Thursday, April 11th. Canaccord Genuity Group increased their price objective on shares of Immunocore from $60.00 to $63.00 and gave the stock a “hold” rating in a research report on Thursday, February 29th. Oppenheimer reissued an “outperform” rating and issued a $87.00 price objective (up from $85.00) on shares of Immunocore in a research report on Thursday, February 29th. Finally, Mizuho upped their target price on shares of Immunocore from $86.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $81.50.

Immunocore Stock Performance

Immunocore stock traded up $1.52 during midday trading on Tuesday, hitting $57.34. The stock had a trading volume of 94,126 shares, compared to its average volume of 481,596. The firm’s fifty day moving average is $63.38 and its two-hundred day moving average is $60.54. The company has a market capitalization of $2.86 billion, a PE ratio of -49.07 and a beta of 0.89. Immunocore has a 52-week low of $42.21 and a 52-week high of $76.98. The company has a current ratio of 3.80, a quick ratio of 3.77 and a debt-to-equity ratio of 0.13.

Immunocore (NASDAQ:IMCR) last posted its earnings results on Wednesday, February 28th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.12). The business had revenue of $70.16 million during the quarter, compared to analysts’ expectations of $53.25 million. Immunocore had a negative net margin of 22.48% and a negative return on equity of 15.78%. The company’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period last year, the business posted ($0.63) earnings per share. On average, research analysts forecast that Immunocore will post -1.54 EPS for the current year.

Institutional Investors Weigh In On Immunocore

Several institutional investors have recently bought and sold shares of the company. Legato Capital Management LLC raised its holdings in shares of Immunocore by 61.7% in the fourth quarter. Legato Capital Management LLC now owns 7,235 shares of the company’s stock worth $494,000 after buying an additional 2,762 shares during the last quarter. Graham Capital Management L.P. purchased a new position in shares of Immunocore during the third quarter worth $411,000. Qube Research & Technologies Ltd raised its holdings in shares of Immunocore by 102.0% during the third quarter. Qube Research & Technologies Ltd now owns 125,199 shares of the company’s stock worth $6,498,000 after purchasing an additional 63,232 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Immunocore by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 2,656 shares of the company’s stock worth $181,000 after purchasing an additional 674 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of Immunocore by 4.4% during the third quarter. FMR LLC now owns 2,136,223 shares of the company’s stock worth $110,870,000 after purchasing an additional 90,116 shares during the last quarter. 84.50% of the stock is currently owned by institutional investors and hedge funds.

About Immunocore

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.