Immunocore (NASDAQ:IMCR) Earns Buy Rating from HC Wainwright

Immunocore (NASDAQ:IMCR)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a research note issued on Monday, Benzinga reports. They currently have a $100.00 price target on the stock. HC Wainwright‘s target price points to a potential upside of 220.91% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. TD Cowen raised shares of Immunocore to a “strong-buy” rating in a report on Monday, August 24th. Zacks Research downgraded shares of Immunocore from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 3rd. Wall Street Zen downgraded Immunocore from a “buy” rating to a “hold” rating in a research report on Tuesday, July 28th. Morgan Stanley set a $43.00 price target on shares of Immunocore in a report on Friday, August 7th. Finally, Mizuho lifted their price target on shares of Immunocore from $34.00 to $35.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Immunocore has a consensus rating of “Moderate Buy” and an average target price of $56.38.

Immunocore Stock Performance

IMCR traded up $0.18 during trading on Monday, hitting $31.16. The stock had a trading volume of 60,058 shares, compared to its average volume of 457,210. The company has a 50 day moving average price of $32.82 and a 200-day moving average price of $31.66. Immunocore has a one year low of $27.50 and a one year high of $40.71. The company has a debt-to-equity ratio of 0.94, a current ratio of 4.47 and a quick ratio of 4.44. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -84.22 and a beta of 0.81.

Immunocore (NASDAQ:IMCR) last announced its quarterly earnings data on Friday, August 7th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.01). Immunocore had a negative return on equity of 4.54% and a negative net margin of 4.20%. As a group, research analysts predict that Immunocore will post 0.04 EPS for the current year.

Institutional Investors Weigh In On Immunocore

Several institutional investors and hedge funds have recently modified their holdings of IMCR. Crossmark Global Holdings Inc. boosted its stake in shares of Immunocore by 13.7% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 41,387 shares of the company’s stock valued at $1,254,000 after purchasing an additional 4,971 shares in the last quarter. Juncture Wealth Strategies LLC acquired a new position in shares of Immunocore during the third quarter worth about $207,000. Engineers Gate Manager LP increased its position in shares of Immunocore by 334.3% in the second quarter. Engineers Gate Manager LP now owns 60,327 shares of the company’s stock valued at $1,915,000 after acquiring an additional 46,435 shares during the last quarter. denkapparat Operations GmbH bought a new position in shares of Immunocore in the 2nd quarter valued at about $209,000. Finally, Braidwell LP acquired a new stake in shares of Immunocore during the 2nd quarter worth about $16,552,000. Institutional investors and hedge funds own 84.50% of the company’s stock.

Immunocore Company Profile

Immunocore Holdings plc is a biotechnology company that develops T cell receptor (TCR) therapeutics designed to direct the immune system against cancer and other serious diseases. Its proprietary ImmTAC platform uses engineered TCRs to recognize disease-associated peptides presented on the surface of cells and recruit T cells to attack those cells.

The company’s lead product, KIMMTRAK (tebentafusp-tebn), is an ImmTAC therapy approved in the United States and other markets for the treatment of certain adults with unresectable or metastatic uveal melanoma who have a specific HLA-A*02:01 genotype.