Immunocore (NASDAQ:IMCR) Upgraded to Strong-Buy at UBS Group

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

A number of other brokerages have also issued reports on IMCR. Weiss Ratings restated a “sell (e+)” rating on shares of Immunocore in a research report on Wednesday, October 8th. Wall Street Zen raised Immunocore from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Guggenheim started coverage on Immunocore in a report on Thursday, September 18th. They issued a “neutral” rating for the company. Wells Fargo & Company initiated coverage on Immunocore in a research report on Friday, October 31st. They set an “overweight” rating and a $60.00 target price for the company. Finally, Morgan Stanley raised their price target on Immunocore from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $60.40.

Immunocore Stock Up 2.8%

IMCR opened at $33.76 on Wednesday. The stock has a fifty day moving average of $36.00 and a 200-day moving average of $34.50. The company has a market capitalization of $1.71 billion, a P/E ratio of -59.23 and a beta of 0.78. Immunocore has a fifty-two week low of $23.15 and a fifty-two week high of $40.71. The company has a debt-to-equity ratio of 0.99, a quick ratio of 5.97 and a current ratio of 6.00.

Immunocore (NASDAQ:IMCR) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.30) by $0.32. Immunocore had a negative net margin of 7.70% and a negative return on equity of 7.67%. The business had revenue of $103.69 million for the quarter, compared to the consensus estimate of $137.29 million. During the same period in the prior year, the company posted $0.17 earnings per share. Immunocore’s revenue was up 29.2% compared to the same quarter last year. On average, equities analysts expect that Immunocore will post -0.94 EPS for the current year.

Hedge Funds Weigh In On Immunocore

Several hedge funds and other institutional investors have recently modified their holdings of the business. Primecap Management Co. CA raised its holdings in shares of Immunocore by 40.8% during the 2nd quarter. Primecap Management Co. CA now owns 3,771,474 shares of the company’s stock worth $118,349,000 after buying an additional 1,092,824 shares in the last quarter. Bellevue Group AG grew its position in Immunocore by 14.5% in the third quarter. Bellevue Group AG now owns 2,796,803 shares of the company’s stock valued at $101,608,000 after acquiring an additional 354,973 shares during the last quarter. Millennium Management LLC grew its position in Immunocore by 334.3% in the third quarter. Millennium Management LLC now owns 1,265,965 shares of the company’s stock valued at $45,993,000 after acquiring an additional 974,463 shares during the last quarter. BVF Inc. IL acquired a new position in Immunocore during the second quarter worth about $32,142,000. Finally, Armistice Capital LLC lifted its holdings in shares of Immunocore by 21.5% in the third quarter. Armistice Capital LLC now owns 824,000 shares of the company’s stock worth $29,936,000 after acquiring an additional 146,000 shares during the last quarter. 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.