Cantor Fitzgerald Reaffirms “Overweight” Rating for Immunocore (NASDAQ:IMCR)

Cantor Fitzgerald reaffirmed their overweight rating on shares of Immunocore (NASDAQ:IMCR) in a research report report published on Monday morning, Benzinga reports.

A number of other research analysts have also weighed in on IMCR. HC Wainwright reissued a buy rating and set a $100.00 target price on shares of Immunocore in a research report on Wednesday, August 28th. Mizuho cut their price objective on shares of Immunocore from $90.00 to $88.00 and set a buy rating for the company in a research report on Monday, May 13th. Needham & Company LLC reaffirmed a buy rating and set a $81.00 price objective on shares of Immunocore in a research report on Friday, August 9th. JPMorgan Chase & Co. cut their price objective on shares of Immunocore from $70.00 to $66.00 and set an overweight rating for the company in a research report on Wednesday, July 10th. Finally, Barclays cut their price objective on shares of Immunocore from $92.00 to $66.00 and set an overweight rating for the company in a research report on Friday, August 9th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $80.70.

Immunocore Stock Down 3.7 %

Immunocore stock opened at $32.98 on Monday. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of -27.03 and a beta of 0.73. The company has a debt-to-equity ratio of 1.31, a current ratio of 5.17 and a quick ratio of 5.15. Immunocore has a fifty-two week low of $32.37 and a fifty-two week high of $76.98. The firm has a fifty day moving average price of $37.44 and a two-hundred day moving average price of $48.06.

Immunocore (NASDAQ:IMCR) last released its earnings results on Thursday, August 8th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.25. The firm had revenue of $75.40 million during the quarter, compared to analyst estimates of $74.58 million. Immunocore had a negative net margin of 19.16% and a negative return on equity of 14.68%. The business’s revenue was up 26.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.37) EPS. As a group, analysts forecast that Immunocore will post -1.79 earnings per share for the current year.

Institutional Trading of Immunocore

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Frazier Life Sciences Management L.P. bought a new stake in Immunocore during the second quarter worth about $3,686,000. The Manufacturers Life Insurance Company grew its stake in Immunocore by 37.2% during the second quarter. The Manufacturers Life Insurance Company now owns 121,753 shares of the company’s stock worth $4,126,000 after buying an additional 33,003 shares during the last quarter. Millennium Management LLC grew its stake in Immunocore by 124.4% during the second quarter. Millennium Management LLC now owns 600,954 shares of the company’s stock worth $20,366,000 after buying an additional 333,167 shares during the last quarter. Armistice Capital LLC grew its stake in Immunocore by 495.1% during the second quarter. Armistice Capital LLC now owns 976,000 shares of the company’s stock worth $33,077,000 after buying an additional 812,000 shares during the last quarter. Finally, Squarepoint Ops LLC grew its stake in Immunocore by 2,265.8% during the second quarter. Squarepoint Ops LLC now owns 73,766 shares of the company’s stock worth $2,500,000 after buying an additional 70,648 shares during the last quarter. 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.