Immunocore (NASDAQ:IMCR) Shares Gap Up – Time to Buy?

Shares of Immunocore Holdings PLC Sponsored ADR (NASDAQ:IMCR) gapped up prior to trading on Wednesday . The stock had previously closed at $32.85, but opened at $34.87. Immunocore shares last traded at $34.74, with a volume of 93,643 shares traded.

Analyst Ratings Changes

Several analysts recently commented on the company. Wall Street Zen raised Immunocore from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. HC Wainwright restated a “buy” rating and issued a $100.00 price target on shares of Immunocore in a research report on Wednesday, October 22nd. Morgan Stanley raised their price target on Immunocore from $34.00 to $36.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Guggenheim began coverage on Immunocore in a report on Thursday, September 18th. They set a “neutral” rating on the stock. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Immunocore in a report on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.40.

Immunocore Trading Up 5.6%

The business has a 50-day simple moving average of $35.98 and a two-hundred day simple moving average of $34.50. The company has a debt-to-equity ratio of 0.99, a quick ratio of 5.97 and a current ratio of 6.00. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of -60.86 and a beta of 0.78.

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

Institutional Investors Weigh In On Immunocore

A number of hedge funds have recently made changes to their positions in the stock. Y Intercept Hong Kong Ltd acquired a new position in Immunocore during the 2nd quarter worth about $1,621,000. Acadian Asset Management LLC lifted its holdings in shares of Immunocore by 392.3% in the 2nd quarter. Acadian Asset Management LLC now owns 90,798 shares of the company’s stock worth $2,843,000 after purchasing an additional 72,355 shares in the last quarter. Frazier Life Sciences Management L.P. increased its holdings in Immunocore by 27.8% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 384,782 shares of the company’s stock worth $12,074,000 after purchasing an additional 83,612 shares in the last quarter. State of New Jersey Common Pension Fund D bought a new position in shares of Immunocore during the 2nd quarter worth approximately $292,000. Finally, Eschler Asset Management LLP purchased a new stake in Immunocore during the second quarter worth about $1,255,000. 84.50% of the stock is currently owned by institutional investors and hedge funds.

About Immunocore

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.