Immunocore (NASDAQ:IMCR) Cut to “Hold” at Wall Street Zen

Immunocore (NASDAQ:IMCR) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Sunday.

Several other equities research analysts have also issued reports on the stock. Jefferies Financial Group lowered shares of Immunocore from a “buy” rating to a “hold” rating and reduced their price objective for the company from $48.00 to $33.00 in a research note on Monday, March 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Immunocore in a report on Tuesday, April 21st. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 price target on shares of Immunocore in a research report on Monday, April 20th. Finally, Zacks Research downgraded Immunocore from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $56.71.

Immunocore Stock Down 3.4%

NASDAQ:IMCR traded down $1.13 during mid-day trading on Friday, reaching $31.95. The stock had a trading volume of 410,618 shares, compared to its average volume of 612,334. The stock has a market cap of $1.63 billion, a P/E ratio of -58.09 and a beta of 0.73. The business’s 50 day moving average is $29.67 and its 200 day moving average is $31.37. The company has a debt-to-equity ratio of 1.00, a current ratio of 4.18 and a quick ratio of 4.15. Immunocore has a fifty-two week low of $27.56 and a fifty-two week high of $40.71.

Immunocore (NASDAQ:IMCR) last posted its earnings results on Wednesday, May 6th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.51. The firm had revenue of $106.68 million during the quarter, compared to analysts’ expectations of $145.20 million. Immunocore had a negative net margin of 6.68% and a negative return on equity of 7.07%. The company’s revenue was up 13.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 earnings per share. As a group, sell-side analysts predict that Immunocore will post 0.06 earnings per share for the current year.

Institutional Investors Weigh In On Immunocore

Several hedge funds and other institutional investors have recently made changes to their positions in IMCR. Millennium Management LLC increased its position in Immunocore by 334.3% during the third quarter. Millennium Management LLC now owns 1,265,965 shares of the company’s stock worth $45,993,000 after acquiring an additional 974,463 shares during the period. Vestal Point Capital LP bought a new stake in Immunocore in the 4th quarter valued at $20,305,000. Janus Henderson Group PLC acquired a new stake in Immunocore in the 4th quarter worth $15,734,000. Bellevue Group AG increased its holdings in shares of Immunocore by 14.5% during the 3rd quarter. Bellevue Group AG now owns 2,796,803 shares of the company’s stock worth $101,608,000 after purchasing an additional 354,973 shares during the period. Finally, Tang Capital Management LLC increased its holdings in shares of Immunocore by 14.0% during the 4th quarter. Tang Capital Management LLC now owns 2,628,538 shares of the company’s stock worth $91,237,000 after purchasing an additional 322,930 shares during the period. 84.50% of the stock is owned by institutional investors and hedge funds.

Immunocore Company Profile

Immunocore plc is a clinical‐stage biotechnology company focused on the development of novel immunotherapies that harness the body’s own T‐cell response to treat cancer and infectious diseases. The company’s proprietary ImmTAC (immune mobilising monoclonal T‐cell receptors against cancer) platform utilizes engineered, soluble T‐cell receptor (TCR) molecules designed to recognise intracellular peptide–HLA complexes. By redirecting and activating T cells against disease‐associated targets, Immunocore aims to address malignancies and persistent viral infections with high unmet medical need.

The company’s most advanced candidate, tebentafusp, is a bispecific ImmTAC molecule that targets gp100, a melanoma‐associated antigen, and has received regulatory approval for the treatment of metastatic uveal melanoma.