Immunocore (NASDAQ:IMCR) Earns “Outperform” Rating from Leerink Partnrs

Leerink Partnrs restated their outperform rating on shares of Immunocore (NASDAQ:IMCR) in a report issued on Monday morning, Zacks.com reports. Leerink Partnrs also issued estimates for Immunocore’s Q1 2024 earnings at ($0.49) EPS, Q2 2024 earnings at ($0.41) EPS, Q3 2024 earnings at ($0.44) EPS, Q4 2024 earnings at ($0.24) EPS, FY2024 earnings at ($1.58) EPS and FY2025 earnings at ($2.14) EPS.

Several other analysts also recently commented on IMCR. Needham & Company LLC reissued a buy rating and issued a $81.00 price objective on shares of Immunocore in a research note on Thursday, April 11th. Guggenheim reaffirmed a buy rating and set a $92.00 price objective on shares of Immunocore in a report on Tuesday, April 23rd. HC Wainwright reissued a buy rating and set a $90.00 price target on shares of Immunocore in a research report on Wednesday, March 6th. Mizuho boosted their price target on shares of Immunocore from $86.00 to $90.00 and gave the stock a buy rating in a report on Tuesday, March 5th. Finally, Canaccord Genuity Group boosted their target price on Immunocore from $60.00 to $63.00 and gave the stock a hold rating in a research note on Thursday, February 29th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $80.92.

Immunocore Price Performance

Shares of NASDAQ:IMCR opened at $59.05 on Monday. Immunocore has a twelve month low of $42.21 and a twelve month high of $76.98. The stock’s 50 day moving average is $61.68 and its 200-day moving average is $60.94. The company has a quick ratio of 3.77, a current ratio of 3.80 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of -50.90 and a beta of 0.92.

Immunocore (NASDAQ:IMCR) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.12). Immunocore had a negative net margin of 22.48% and a negative return on equity of 15.78%. The business had revenue of $70.16 million for the quarter, compared to the consensus estimate of $53.25 million. During the same quarter last year, the firm posted ($0.63) EPS. The business’s revenue for the quarter was up 22.4% compared to the same quarter last year. Sell-side analysts forecast that Immunocore will post -1.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Immunocore

Several hedge funds have recently bought and sold shares of IMCR. China Universal Asset Management Co. Ltd. raised its position in Immunocore by 103.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 836 shares of the company’s stock valued at $43,000 after purchasing an additional 426 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Immunocore by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 2,656 shares of the company’s stock valued at $181,000 after purchasing an additional 674 shares during the last quarter. JGP Global Gestao de Recursos Ltda. purchased a new position in shares of Immunocore in the fourth quarter worth about $230,000. NEOS Investment Management LLC bought a new stake in Immunocore in the fourth quarter valued at approximately $262,000. Finally, Oppenheimer Asset Management Inc. raised its holdings in Immunocore by 26.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 7,491 shares of the company’s stock valued at $389,000 after buying an additional 1,572 shares during the last quarter. 84.50% of the stock is currently owned by institutional investors.

Immunocore Company Profile

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.