Immunocore (NASDAQ:IMCR) Rating Reiterated by HC Wainwright

HC Wainwright reiterated their buy rating on shares of Immunocore (NASDAQ:IMCR) in a research report released on Tuesday, Benzinga reports. They currently have a $100.00 price target on the stock.

Other equities analysts have also issued research reports about the company. Cantor Fitzgerald reaffirmed an overweight rating on shares of Immunocore in a research note on Monday, September 9th. Barclays dropped their price target on Immunocore from $92.00 to $66.00 and set an overweight rating for the company in a research note on Friday, August 9th. Needham & Company LLC reiterated a buy rating and set a $81.00 price objective on shares of Immunocore in a research report on Friday, August 9th. JPMorgan Chase & Co. lowered their target price on shares of Immunocore from $70.00 to $66.00 and set an overweight rating on the stock in a report on Wednesday, July 10th. Finally, Oppenheimer reaffirmed an outperform rating and set a $89.00 target price (up from $87.00) on shares of Immunocore in a research note on Friday, August 9th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $80.40.

Immunocore Price Performance

Shares of NASDAQ:IMCR opened at $33.18 on Tuesday. The company has a market capitalization of $1.66 billion, a P/E ratio of -27.20 and a beta of 0.73. Immunocore has a 1-year low of $32.37 and a 1-year high of $76.98. The firm’s 50 day simple moving average is $36.84 and its two-hundred day simple moving average is $46.50. The company has a debt-to-equity ratio of 1.31, a current ratio of 5.17 and a quick ratio of 5.15.

Immunocore (NASDAQ:IMCR) last released its earnings results on Thursday, August 8th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.25. Immunocore had a negative net margin of 19.16% and a negative return on equity of 14.68%. The company had revenue of $75.40 million for the quarter, compared to analysts’ expectations of $74.58 million. During the same quarter in the previous year, the company earned ($0.37) EPS. Immunocore’s revenue for the quarter was up 26.2% on a year-over-year basis. Research analysts expect that Immunocore will post -1.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in IMCR. Primecap Management Co. CA increased its stake in Immunocore by 3,841.6% during the second quarter. Primecap Management Co. CA now owns 1,951,070 shares of the company’s stock worth $66,122,000 after acquiring an additional 1,901,570 shares during the last quarter. Bellevue Group AG increased its position in shares of Immunocore by 4,817.1% during the 4th quarter. Bellevue Group AG now owns 976,054 shares of the company’s stock valued at $66,684,000 after purchasing an additional 956,204 shares during the last quarter. Armistice Capital LLC raised its holdings in Immunocore by 495.1% during the 2nd quarter. Armistice Capital LLC now owns 976,000 shares of the company’s stock valued at $33,077,000 after buying an additional 812,000 shares during the period. Wellington Management Group LLP lifted its position in Immunocore by 10.2% in the fourth quarter. Wellington Management Group LLP now owns 4,312,611 shares of the company’s stock worth $294,638,000 after buying an additional 399,201 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in Immunocore by 124.4% during the second quarter. Millennium Management LLC now owns 600,954 shares of the company’s stock worth $20,366,000 after buying an additional 333,167 shares during the period. Institutional investors own 84.50% of the company’s stock.

About Immunocore

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.