Immunocore (NASDAQ:IMCR) Reaches New 52-Week High – What’s Next?

Shares of Immunocore Holdings PLC Sponsored ADR (NASDAQ:IMCR) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $40.00 and last traded at $39.71, with a volume of 27819 shares trading hands. The stock had previously closed at $38.65.

Analysts Set New Price Targets

IMCR has been the subject of a number of analyst reports. Wall Street Zen upgraded Immunocore from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Jefferies Financial Group initiated coverage on Immunocore in a research report on Monday, August 25th. They issued a “buy” rating and a $48.00 price target for the company. Guggenheim assumed coverage on Immunocore in a research report on Thursday, September 18th. They set a “neutral” rating on the stock. HC Wainwright reiterated a “buy” rating and issued a $100.00 price objective on shares of Immunocore in a research note on Wednesday, October 22nd. Finally, Zacks Research downgraded shares of Immunocore from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 4th. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $61.00.

Immunocore Stock Up 2.5%

The company has a debt-to-equity ratio of 0.99, a quick ratio of 5.97 and a current ratio of 6.00. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of -69.63 and a beta of 0.78. The business’s 50 day moving average price is $34.00 and its 200 day moving average price is $33.51.

Immunocore (NASDAQ:IMCR) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.32. Immunocore had a negative net margin of 7.70% and a negative return on equity of 7.67%. The firm had revenue of $135.80 million for the quarter, compared to the consensus estimate of $137.29 million. During the same period in the prior year, the firm posted $0.17 earnings per share. The firm’s quarterly revenue was up 29.2% compared to the same quarter last year. On average, equities analysts forecast that Immunocore Holdings PLC Sponsored ADR will post -0.94 EPS for the current year.

Insider Activity

In other news, insider David M. Berman sold 22,532 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $35.67, for a total transaction of $803,716.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 10.40% of the stock is currently owned by insiders.

Institutional Trading of Immunocore

Several institutional investors have recently bought and sold shares of the business. Y Intercept Hong Kong Ltd acquired a new position in shares of Immunocore during the 2nd quarter worth about $1,621,000. Acadian Asset Management LLC boosted its position in Immunocore by 392.3% during the second quarter. Acadian Asset Management LLC now owns 90,798 shares of the company’s stock worth $2,843,000 after acquiring an additional 72,355 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in Immunocore during the 2nd quarter valued at about $292,000. Banque Transatlantique SA acquired a new stake in Immunocore in the 1st quarter valued at about $278,000. Finally, T. Rowe Price Investment Management Inc. lifted its stake in Immunocore by 5.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 7,051,818 shares of the company’s stock worth $209,228,000 after purchasing an additional 351,610 shares in the last quarter. 84.50% of the stock is owned by institutional investors and hedge funds.

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.