Immunocore Holdings PLC Sponsored ADR (NASDAQ:IMCR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Immunocore Holdings PLC Sponsored ADR (NASDAQ:IMCR) have been assigned an average recommendation of “Moderate Buy” from the twelve brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $61.00.

A number of research firms recently commented on IMCR. Morgan Stanley upped their price objective on Immunocore from $34.00 to $36.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Weiss Ratings restated a “sell (e+)” rating on shares of Immunocore in a research report on Wednesday, October 8th. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 price target on shares of Immunocore in a research note on Wednesday, October 22nd. Wells Fargo & Company initiated coverage on Immunocore in a research report on Friday, October 31st. They set an “overweight” rating and a $60.00 price objective for the company. Finally, Zacks Research lowered shares of Immunocore from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 4th.

Immunocore Trading Down 1.2%

Shares of IMCR opened at $36.13 on Friday. Immunocore has a 12-month low of $23.15 and a 12-month high of $40.71. The firm has a market capitalization of $1.83 billion, a P/E ratio of -63.39 and a beta of 0.77. The firm has a 50-day moving average price of $35.85 and a 200 day moving average price of $34.45. The company has a current ratio of 6.00, a quick ratio of 5.97 and a debt-to-equity ratio of 0.99.

Immunocore (NASDAQ:IMCR) last issued its earnings results on Thursday, November 6th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.32. Immunocore had a negative net margin of 7.70% and a negative return on equity of 7.67%. The company had revenue of $103.69 million for the quarter, compared to the consensus estimate of $137.29 million. During the same period in the previous year, the firm earned $0.17 earnings per share. Immunocore’s quarterly revenue was up 29.2% compared to the same quarter last year. Sell-side analysts forecast that Immunocore will post -0.94 EPS for the current year.

Hedge Funds Weigh In On Immunocore

Large investors have recently made changes to their positions in the stock. Bellevue Group AG boosted its position in shares of Immunocore by 99.9% during the 2nd quarter. Bellevue Group AG now owns 2,441,830 shares of the company’s stock worth $76,625,000 after purchasing an additional 1,220,036 shares during the period. Primecap Management Co. CA raised its position in Immunocore by 40.8% in the second quarter. Primecap Management Co. CA now owns 3,771,474 shares of the company’s stock valued at $118,349,000 after purchasing an additional 1,092,824 shares during the period. BVF Inc. IL acquired a new position in Immunocore during the second quarter worth $32,142,000. Millennium Management LLC lifted its stake in Immunocore by 334.3% during the third quarter. Millennium Management LLC now owns 1,265,965 shares of the company’s stock worth $45,993,000 after purchasing an additional 974,463 shares in the last quarter. Finally, Baker BROS. Advisors LP boosted its position in shares of Immunocore by 53.3% during the first quarter. Baker BROS. Advisors LP now owns 2,322,656 shares of the company’s stock worth $68,913,000 after buying an additional 807,338 shares during the period. 84.50% of the stock is currently 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.