Immunocore (NASDAQ:IMCR) Coverage Initiated by Analysts at SVB Leerink

Equities researchers at SVB Leerink assumed coverage on shares of Immunocore (NASDAQ:IMCR) in a research report issued to clients and investors on Monday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $74.00 price target on the stock. SVB Leerink’s target price would suggest a potential upside of 25.25% from the stock’s current price.

IMCR has been the topic of several other research reports. Mizuho upped their price objective on shares of Immunocore from $86.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. JPMorgan Chase & Co. upped their price target on shares of Immunocore from $60.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. HC Wainwright reaffirmed a “buy” rating and set a $90.00 price target on shares of Immunocore in a research report on Wednesday, March 6th. Canaccord Genuity Group upped their price target on shares of Immunocore from $60.00 to $63.00 and gave the stock a “hold” rating in a research report on Thursday, February 29th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $87.00 price target (up previously from $85.00) on shares of Immunocore in a research report on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $80.92.

Immunocore Stock Up 1.7 %

IMCR stock opened at $59.08 on Monday. The company has a market cap of $2.94 billion, a P/E ratio of -50.93 and a beta of 0.89. Immunocore has a 52 week low of $42.21 and a 52 week high of $76.98. The company’s 50-day moving average price is $61.90 and its 200 day moving average price is $60.95. The company has a current ratio of 3.80, a quick ratio of 3.77 and a debt-to-equity ratio of 0.13.

Immunocore (NASDAQ:IMCR) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.12). Immunocore had a negative net margin of 22.48% and a negative return on equity of 15.78%. The business had revenue of $70.16 million during the quarter, compared to analysts’ expectations of $53.25 million. During the same period last year, the company earned ($0.63) EPS. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. On average, research analysts expect that Immunocore will post -1.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. boosted its stake in shares of Immunocore by 103.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 836 shares of the company’s stock valued at $43,000 after purchasing an additional 426 shares during the period. Exchange Traded Concepts LLC boosted its stake in shares of Immunocore by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 2,656 shares of the company’s stock valued at $181,000 after purchasing an additional 674 shares during the period. JGP Global Gestao de Recursos Ltda. purchased a new position in shares of Immunocore in the fourth quarter valued at $230,000. NEOS Investment Management LLC purchased a new position in shares of Immunocore in the fourth quarter valued at $262,000. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of Immunocore by 26.6% in the third quarter. Oppenheimer Asset Management Inc. now owns 7,491 shares of the company’s stock valued at $389,000 after purchasing an additional 1,572 shares during the period. 84.50% of the stock is currently owned by hedge funds and other institutional investors.

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.