HC Wainwright Reaffirms Buy Rating for Immunocore (NASDAQ:IMCR)

HC Wainwright reaffirmed their buy rating on shares of Immunocore (NASDAQ:IMCR) in a report issued on Tuesday, Benzinga reports. HC Wainwright currently has a $100.00 price target on the stock.

Several other research firms have also issued reports on IMCR. Oppenheimer reaffirmed an outperform rating and issued a $89.00 price target (up previously from $87.00) on shares of Immunocore in a research report on Friday, August 9th. Needham & Company LLC reaffirmed a buy rating and issued a $81.00 target price on shares of Immunocore in a report on Friday, August 9th. Barclays cut their price target on shares of Immunocore from $92.00 to $66.00 and set an overweight rating on the stock in a report on Friday, August 9th. JPMorgan Chase & Co. reduced their price target 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, Cantor Fitzgerald reaffirmed an overweight rating on shares of Immunocore in a research report on Monday, September 9th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Immunocore has a consensus rating of Moderate Buy and a consensus target price of $80.40.

Immunocore Trading Down 3.0 %

NASDAQ:IMCR opened at $33.18 on Tuesday. Immunocore has a one year low of $32.37 and a one year high of $76.98. The company’s 50-day simple moving average is $36.84 and its 200 day simple moving average is $46.50. The firm has a market capitalization of $1.66 billion, a P/E ratio of -27.20 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 (NASDAQ:IMCR) last posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $74.58 million. Immunocore had a negative return on equity of 14.68% and a negative net margin of 19.16%. The firm’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.37) EPS. As a group, analysts forecast that Immunocore will post -1.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of IMCR. DNB Asset Management AS increased its position in shares of Immunocore by 35.0% during the 2nd quarter. DNB Asset Management AS now owns 7,211 shares of the company’s stock valued at $244,000 after purchasing an additional 1,868 shares during the last quarter. NEOS Investment Management LLC purchased a new stake in Immunocore during the fourth quarter valued at approximately $262,000. XTX Topco Ltd purchased a new position in shares of Immunocore during the 2nd quarter worth $303,000. Tidal Investments LLC purchased a new position in shares of Immunocore during the 1st quarter worth $423,000. Finally, China Universal Asset Management Co. Ltd. grew its position in shares of Immunocore by 69.8% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,621 shares of the company’s stock valued at $430,000 after acquiring an additional 2,721 shares during the period. Institutional investors 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.