Zacks Research Downgrades Immunocore (NASDAQ:IMCR) to Hold

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

IMCR has been the topic of a number of other reports. Cantor Fitzgerald restated an “overweight” rating on shares of Immunocore in a research note on Monday, July 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Immunocore in a research report on Friday, July 17th. JPMorgan Chase & Co. started coverage on Immunocore in a report on Friday, August 21st. They issued an “overweight” rating and a $50.00 target price for the company. Morgan Stanley set a $43.00 target price on shares of Immunocore in a research report on Friday, August 7th. Finally, TD Cowen raised shares of Immunocore to a “strong-buy” rating in a research note on Monday, August 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $56.38.

Immunocore Trading Down 3.8%

NASDAQ IMCR opened at $36.13 on Thursday. The stock has a market capitalization of $1.86 billion, a P/E ratio of -97.65 and a beta of 0.74. Immunocore has a 52-week low of $27.56 and a 52-week high of $40.71. The firm has a 50-day moving average price of $34.49 and a 200 day moving average price of $31.75. The company has a quick ratio of 4.44, a current ratio of 4.47 and a debt-to-equity ratio of 0.94.

Immunocore (NASDAQ:IMCR) last announced its quarterly earnings data on Friday, August 7th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). Immunocore had a negative net margin of 4.20% and a negative return on equity of 4.54%. Equities research analysts expect that Immunocore will post 0.06 EPS for the current year.

Institutional Investors Weigh In On Immunocore

Hedge funds have recently modified their holdings of the stock. Royal Bank of Canada increased its position in Immunocore by 45.1% during the first quarter. Royal Bank of Canada now owns 44,011 shares of the company’s stock worth $1,306,000 after purchasing an additional 13,689 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Immunocore by 40.1% in the 2nd quarter. Geode Capital Management LLC now owns 52,001 shares of the company’s stock valued at $1,632,000 after purchasing an additional 14,877 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of Immunocore by 425.8% in the 2nd quarter. Marshall Wace LLP now owns 146,610 shares of the company’s stock valued at $4,601,000 after purchasing an additional 118,728 shares during the last quarter. Sei Investments Co. purchased a new stake in shares of Immunocore during the 2nd quarter valued at $983,000. Finally, Cubist Systematic Strategies LLC increased its holdings in shares of Immunocore by 108.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 142,757 shares of the company’s stock worth $4,480,000 after buying an additional 74,128 shares during the last quarter. 84.50% of the stock is owned by institutional investors and hedge funds.

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.