Immunocore (NASDAQ:IMCR) Upgraded at Wall Street Zen

Immunocore (NASDAQ:IMCR) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Other analysts have also issued reports about the stock. Guggenheim began coverage on shares of Immunocore in a research note on Thursday, September 18th. They set a “neutral” rating for the company. HC Wainwright reiterated a “buy” rating and set a $100.00 price objective on shares of Immunocore in a research report on Wednesday, October 22nd. Zacks Research lowered Immunocore from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. Wells Fargo & Company began coverage on Immunocore in a report on Friday, October 31st. They issued an “overweight” rating and a $60.00 target price on the stock. Finally, Jefferies Financial Group initiated coverage on Immunocore in a research report on Monday, August 25th. They set a “buy” rating and a $48.00 target price on the stock. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.89.

Immunocore Trading Up 6.0%

Shares of Immunocore stock opened at $33.50 on Friday. The business has a fifty day simple moving average of $33.83 and a 200-day simple moving average of $33.15. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of -58.77 and a beta of 0.78. Immunocore has a fifty-two week low of $23.15 and a fifty-two week high of $39.33. The company has a quick ratio of 5.86, a current ratio of 5.89 and a debt-to-equity ratio of 1.01.

Immunocore (NASDAQ:IMCR) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.32. Immunocore had a negative net margin of 7.70% and a negative return on equity of 7.77%. The company had revenue of $135.80 million during the quarter, compared to the consensus estimate of $137.29 million. During the same period in the prior year, the company earned $0.17 EPS. Immunocore’s revenue was up 29.2% on a year-over-year basis. On average, equities analysts forecast that Immunocore will post -0.94 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider David M. Berman sold 22,532 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $35.67, for a total transaction of $803,716.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On Immunocore

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IMCR. T. Rowe Price Investment Management Inc. grew its holdings in shares of Immunocore by 5.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 7,051,818 shares of the company’s stock valued at $209,228,000 after acquiring an additional 351,610 shares in the last quarter. Primecap Management Co. CA boosted its position in Immunocore by 40.8% during the second quarter. Primecap Management Co. CA now owns 3,771,474 shares of the company’s stock valued at $118,349,000 after purchasing an additional 1,092,824 shares during the last quarter. Bellevue Group AG grew its stake in Immunocore by 99.9% in the second quarter. Bellevue Group AG now owns 2,441,830 shares of the company’s stock valued at $76,625,000 after purchasing an additional 1,220,036 shares in the last quarter. Baker BROS. Advisors LP grew its stake in Immunocore by 53.3% in the first quarter. Baker BROS. Advisors LP now owns 2,322,656 shares of the company’s stock valued at $68,913,000 after purchasing an additional 807,338 shares in the last quarter. Finally, BVF Inc. IL acquired a new position in Immunocore in the 2nd quarter worth about $32,142,000. Hedge funds and other institutional investors own 84.50% of the company’s stock.

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.