Immunocore (NASDAQ:IMCR) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of Immunocore (NASDAQ:IMCR) from a buy rating to a hold rating in a research note published on Tuesday.

Several other equities analysts have also recently commented on IMCR. HC Wainwright reaffirmed a “buy” rating and set a $100.00 price objective on shares of Immunocore in a research note on Monday, April 20th. Zacks Research cut shares of Immunocore from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunocore in a research note on Monday, July 13th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Immunocore in a research report on Friday, July 17th. Five 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.71.

Immunocore Stock Down 0.8%

Shares of NASDAQ IMCR opened at $33.51 on Tuesday. Immunocore has a 52 week low of $27.56 and a 52 week high of $40.71. The business has a 50-day simple moving average of $30.93 and a two-hundred day simple moving average of $31.30. The company has a quick ratio of 4.15, a current ratio of 4.18 and a debt-to-equity ratio of 1.00. The company has a market cap of $1.70 billion, a P/E ratio of -60.93 and a beta of 0.73.

Immunocore (NASDAQ:IMCR) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.51. Immunocore had a negative return on equity of 7.07% and a negative net margin of 6.68%.The firm had revenue of $106.68 million for the quarter, compared to analysts’ expectations of $145.20 million. During the same period in the prior year, the business posted $0.10 earnings per share. The company’s revenue was up 13.6% on a year-over-year basis. Research analysts anticipate that Immunocore will post 0.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of IMCR. Hussman Strategic Advisors Inc. bought a new position in shares of Immunocore in the 4th quarter worth $1,458,000. Eschler Asset Management LLP lifted its holdings in shares of Immunocore by 100.0% during the 4th quarter. Eschler Asset Management LLP now owns 80,000 shares of the company’s stock worth $2,777,000 after acquiring an additional 40,000 shares during the last quarter. Eversept Partners LP bought a new stake in shares of Immunocore during the 1st quarter worth $1,183,000. Rhenman & Partners Asset Management AB lifted its holdings in shares of Immunocore by 442.0% during the 4th quarter. Rhenman & Partners Asset Management AB now owns 153,278 shares of the company’s stock worth $5,320,000 after acquiring an additional 125,000 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Immunocore by 287.2% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,674 shares of the company’s stock worth $955,000 after acquiring an additional 23,494 shares in the last quarter. Hedge funds and other institutional investors own 84.50% of the company’s stock.

Immunocore Company Profile

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.