Immunocore (NASDAQ:IMCR) Stock Price Up 7.4% – Should You Buy?

Immunocore Holdings plc (NASDAQ:IMCR)’s share price rose 7.4% during mid-day trading on Monday . The stock traded as high as $35.23 and last traded at $35.23. 63,781 shares changed hands during trading, a decline of 88% from the average daily volume of 538,137 shares. The stock had previously closed at $32.80.

Wall Street Analyst Weigh In

Several brokerages recently commented on IMCR. Guggenheim downgraded shares of Immunocore from a “buy” rating to a “neutral” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. dropped their price target on Immunocore from $70.00 to $66.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Oppenheimer reissued an “outperform” rating and set a $89.00 price objective (up previously from $87.00) on shares of Immunocore in a report on Friday, August 9th. UBS Group started coverage on Immunocore in a report on Thursday. They issued a “sell” rating and a $24.00 target price for the company. Finally, Needham & Company LLC cut their price target on Immunocore from $81.00 to $78.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $75.17.

Immunocore Price Performance

The company has a current ratio of 5.17, a quick ratio of 5.15 and a debt-to-equity ratio of 1.31. The business’s 50-day simple moving average is $33.33 and its two-hundred day simple moving average is $40.91. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -28.40 and a beta of 0.72.

Immunocore (NASDAQ:IMCR) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.25. The company had revenue of $75.40 million during the quarter, compared to analysts’ expectations of $74.58 million. Immunocore had a negative net margin of 19.16% and a negative return on equity of 14.68%. Immunocore’s revenue for the quarter was up 26.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.37) earnings per share. As a group, research analysts expect that Immunocore Holdings plc will post -1.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Immunocore

Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC boosted its holdings in shares of Immunocore by 1,867.3% during the 2nd quarter. SG Americas Securities LLC now owns 160,358 shares of the company’s stock worth $5,435,000 after buying an additional 152,207 shares in the last quarter. Candriam S.C.A. grew its holdings in Immunocore by 65.8% in the second quarter. Candriam S.C.A. now owns 313,423 shares of the company’s stock worth $10,621,000 after purchasing an additional 124,417 shares during the period. Frazier Life Sciences Management L.P. acquired a new stake in Immunocore in the second quarter worth $3,686,000. Janus Henderson Group PLC increased its stake in Immunocore by 45.8% in the first quarter. Janus Henderson Group PLC now owns 257,080 shares of the company’s stock valued at $16,711,000 after purchasing an additional 80,748 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Immunocore by 16.2% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 397,463 shares of the company’s stock valued at $13,470,000 after purchasing an additional 55,463 shares during the period. Institutional investors and hedge funds own 84.50% of the company’s stock.

About Immunocore

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.