Immunocore (NASDAQ:IMCR) Stock Rating Reaffirmed as Buy by HC Wainwright

Immunocore (NASDAQ:IMCR)‘s stock had its “buy” rating restated by HC Wainwright in a note issued to investors on Monday, Benzinga reports. They currently have a $100.00 price objective on the stock. HC Wainwright‘s price target indicates a potential upside of 222.58% from the stock’s current price.

Several other brokerages have also recently weighed in on IMCR. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Immunocore in a report on Thursday, October 15th. TD Cowen raised shares of Immunocore to a “strong-buy” rating in a report on Monday, August 24th. Mizuho raised their target price on shares of Immunocore from $34.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunocore in a report on Monday, July 13th. Finally, Wall Street Zen cut shares of Immunocore from a “buy” rating to a “hold” rating in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $56.38.

Immunocore Trading Up 0.1%

IMCR stock traded up $0.02 during mid-day trading on Monday, hitting $31.00. 77,505 shares of the company were exchanged, compared to its average volume of 457,289. The company has a quick ratio of 4.44, a current ratio of 4.47 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $1.60 billion, a P/E ratio of -83.71 and a beta of 0.81. The business has a fifty day simple moving average of $32.82 and a 200-day simple moving average of $31.66. Immunocore has a 12-month low of $27.50 and a 12-month high of $40.71.

Immunocore (NASDAQ:IMCR) last issued its quarterly earnings results on Friday, August 7th. The company reported ($0.02) earnings per share (EPS) 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%. On average, equities research analysts predict that Immunocore will post 0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Immunocore

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

About Immunocore

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.