Immunocore (NASDAQ:IMCR) Rating Increased to Strong-Buy at Zacks Research

Immunocore (NASDAQ:IMCR) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other research analysts have also recently weighed in on IMCR. Morgan Stanley boosted their price objective on shares of Immunocore from $34.00 to $36.00 and gave the company an “equal weight” rating in a research report on Monday, November 10th. Guggenheim assumed coverage on shares of Immunocore in a research note on Thursday, September 18th. They set a “neutral” rating for the company. Wells Fargo & Company initiated coverage on shares of Immunocore in a research report on Friday, October 31st. They issued an “overweight” rating and a $60.00 price objective on the stock. HC Wainwright restated a “buy” rating and set a $100.00 target price on shares of Immunocore in a research report on Wednesday, October 22nd. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Immunocore in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Immunocore currently has a consensus rating of “Moderate Buy” and an average target price of $60.40.

Immunocore Trading Down 2.1%

Shares of IMCR stock opened at $33.05 on Wednesday. The company has a market cap of $1.67 billion, a PE ratio of -57.98 and a beta of 0.78. Immunocore has a 1 year low of $23.15 and a 1 year high of $40.71. The stock’s 50 day simple moving average is $36.02 and its two-hundred day simple moving average is $34.49. The company has a debt-to-equity ratio of 0.99, a current ratio of 6.00 and a quick ratio of 5.97.

Immunocore (NASDAQ:IMCR) last announced 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 return on equity of 7.67% and a negative net margin of 7.70%.The firm had revenue of $103.69 million during the quarter, compared to analysts’ expectations of $137.29 million. During the same quarter in the previous year, the business earned $0.17 EPS. The company’s quarterly revenue was up 29.2% on a year-over-year basis. Research analysts predict that Immunocore will post -0.94 earnings per share for the current year.

Institutional Trading of Immunocore

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

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.