Immunocore (NASDAQ:IMCR) Rating Reiterated by Leerink Partnrs

Immunocore (NASDAQ:IMCR)‘s stock had its “outperform” rating reissued by investment analysts at Leerink Partnrs in a research note issued on Monday, Zacks.com reports. Leerink Partnrs also issued estimates for Immunocore’s Q1 2024 earnings at ($0.49) EPS, Q2 2024 earnings at ($0.41) EPS, Q3 2024 earnings at ($0.44) EPS, Q4 2024 earnings at ($0.24) EPS, FY2024 earnings at ($1.58) EPS and FY2025 earnings at ($2.14) EPS.

Several other analysts have also issued reports on the company. SVB Leerink began coverage on Immunocore in a report on Monday. They set an “outperform” rating and a $74.00 target price on the stock. Canaccord Genuity Group upped their target price on Immunocore from $60.00 to $63.00 and gave the stock a “hold” rating in a report on Thursday, February 29th. Guggenheim reiterated a “buy” rating and set a $92.00 target price on shares of Immunocore in a report on Tuesday, April 23rd. HC Wainwright reissued a “buy” rating and set a $90.00 price target on shares of Immunocore in a research report on Wednesday, March 6th. Finally, JPMorgan Chase & Co. boosted their price target on Immunocore from $60.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Immunocore has an average rating of “Moderate Buy” and a consensus price target of $80.92.

Immunocore Stock Performance

Shares of Immunocore stock opened at $59.05 on Monday. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of -50.90 and a beta of 0.92. The stock’s 50-day moving average is $61.68 and its 200-day moving average is $60.94. Immunocore has a one year low of $42.21 and a one year high of $76.98. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.80 and a quick ratio of 3.77.

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

Hedge Funds Weigh In On Immunocore

Institutional investors and hedge funds have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. grew its position in shares of Immunocore by 103.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 836 shares of the company’s stock valued at $43,000 after purchasing an additional 426 shares during the last quarter. Exchange Traded Concepts LLC grew its position in shares of Immunocore by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 2,656 shares of the company’s stock valued at $181,000 after purchasing an additional 674 shares during the last quarter. JGP Global Gestao de Recursos Ltda. acquired a new position in shares of Immunocore in the fourth quarter valued at approximately $230,000. NEOS Investment Management LLC acquired a new stake in Immunocore during the fourth quarter worth approximately $262,000. Finally, Legato Capital Management LLC grew its position in Immunocore by 61.7% during 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 in the last quarter. Institutional investors and hedge funds own 84.50% of the company’s stock.

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.