Immunocore (NASDAQ:IMCR) Given New $42.00 Price Target at Morgan Stanley

Immunocore (NASDAQ:IMCR) had its price objective decreased by Morgan Stanley from $43.00 to $42.00 in a research report released on Friday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other research firms have also recently commented on IMCR. Wall Street Zen cut shares of Immunocore from a “buy” rating to a “hold” rating in a report on Tuesday, July 28th. JPMorgan Chase & Co. started coverage on Immunocore in a report on Friday, August 21st. They set an “overweight” rating and a $50.00 price objective for the company. HC Wainwright decreased their target price on Immunocore from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, November 10th. Weiss Ratings reissued a “sell (e+)” rating on shares of Immunocore in a research report on Thursday, October 15th. Finally, TD Cowen upgraded Immunocore to a “strong-buy” rating in a research note on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $52.86.

Immunocore Stock Performance

IMCR traded down $0.54 during midday trading on Friday, reaching $29.94. The company had a trading volume of 270,295 shares, compared to its average volume of 568,444. The company has a debt-to-equity ratio of 0.94, a quick ratio of 4.44 and a current ratio of 4.62. The stock has a market cap of $1.54 billion, a PE ratio of -46.06 and a beta of 0.82. Immunocore has a 12-month low of $27.50 and a 12-month high of $40.71. The business has a 50-day moving average price of $31.07 and a two-hundred day moving average price of $31.63.

Immunocore (NASDAQ:IMCR) last released its earnings results on Friday, November 6th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.11). Immunocore had a negative net margin of 7.48% and a negative return on equity of 7.96%. The company had revenue of $102.22 million for the quarter, compared to the consensus estimate of $152.09 million. On average, sell-side analysts expect that Immunocore will post -0.20 earnings per share for the current fiscal year.

Institutional Trading of Immunocore

Hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC lifted its stake in shares of Immunocore by 202.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock valued at $61,000 after buying an additional 1,286 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Immunocore in the 3rd quarter valued at approximately $72,000. Juncture Wealth Strategies LLC purchased a new position in Immunocore in the 3rd quarter valued at approximately $207,000. denkapparat Operations GmbH purchased a new position in Immunocore in the 2nd quarter valued at approximately $209,000. Finally, China Universal Asset Management Co. Ltd. raised its holdings in Immunocore by 27.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,252 shares of the company’s stock valued at $285,000 after acquiring an additional 1,975 shares during the period. Institutional investors own 84.50% of the company’s stock.

Immunocore Company Profile

Immunocore is a biotechnology company that develops T cell receptor (TCR)-based medicines for cancer and other diseases. Its ImmTAX platform is designed to create therapies that direct the body’s T cells toward targets inside cells, including targets that may be difficult for conventional antibody treatments to reach. The company’s marketed medicine, KIMMTRAK (tebentafusp-tebn), is a TCR-based therapy approved in the United States and other markets for certain patients with unresectable or metastatic uveal melanoma.