Zacks Research Downgrades Immunocore (NASDAQ:IMCR) to Hold

Immunocore (NASDAQ:IMCR) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other research analysts also recently commented on the company. Jefferies Financial Group downgraded Immunocore from a “buy” rating to a “hold” rating and lowered their target price for the company from $48.00 to $33.00 in a research note on Monday, March 16th. Wall Street Zen upgraded Immunocore from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. HC Wainwright restated a “buy” rating and issued a $100.00 price objective on shares of Immunocore in a report on Monday, April 20th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Immunocore in a research report on Tuesday, April 21st. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Immunocore presently has a consensus rating of “Hold” and a consensus target price of $56.71.

Immunocore Stock Up 1.1%

IMCR stock opened at $33.78 on Tuesday. The company has a 50 day moving average of $29.50 and a two-hundred day moving average of $31.39. The company has a market cap of $1.72 billion, a price-to-earnings ratio of -61.42 and a beta of 0.73. Immunocore has a 12-month low of $27.56 and a 12-month high of $40.71. The company has a quick ratio of 4.15, a current ratio of 4.18 and a debt-to-equity ratio of 1.00.

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

Institutional Trading of Immunocore

Large investors have recently made changes to their positions in the stock. Leonteq Securities AG bought a new position in shares of Immunocore in the 4th quarter valued at approximately $30,000. Harbour Investments Inc. boosted its position in Immunocore by 60.2% during the fourth quarter. Harbour Investments Inc. now owns 1,033 shares of the company’s stock worth $36,000 after purchasing an additional 388 shares during the period. Rockefeller Capital Management L.P. acquired a new position in Immunocore during the fourth quarter valued at approximately $47,000. Arax Advisory Partners raised its position in shares of Immunocore by 302.9% in the fourth quarter. Arax Advisory Partners now owns 1,386 shares of the company’s stock valued at $48,000 after purchasing an additional 1,042 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Immunocore by 202.8% in the second quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock valued at $61,000 after purchasing an additional 1,286 shares during the period. 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.