Immunocore (NASDAQ:IMCR) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Immunocore (NASDAQ:IMCR) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

IMCR has been the topic of several other reports. Mizuho boosted their price target on Immunocore from $34.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday. Wall Street Zen downgraded Immunocore from a “buy” rating to a “hold” rating in a research report on Tuesday, July 28th. HC Wainwright reissued a “buy” rating and set a $100.00 price objective on shares of Immunocore in a report on Monday, April 20th. Cantor Fitzgerald restated an “overweight” rating on shares of Immunocore in a research report on Monday, July 13th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Immunocore in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $56.29.

Immunocore Stock Performance

NASDAQ IMCR opened at $34.50 on Wednesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 4.18 and a quick ratio of 4.15. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of -62.73 and a beta of 0.74. The company’s fifty day moving average is $31.54 and its two-hundred day moving average is $31.33. Immunocore has a 52-week low of $27.56 and a 52-week high of $40.71.

Immunocore (NASDAQ:IMCR) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). Immunocore had a negative net margin of 6.68% and a negative return on equity of 7.07%. The company had revenue of $115.93 million for the quarter, compared to analyst estimates of $148.44 million. Equities research analysts forecast that Immunocore will post 0.08 EPS for the current year.

Hedge Funds Weigh In On Immunocore

Several institutional investors have recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. raised its position in Immunocore by 2.5% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 48,324 shares of the company’s stock valued at $1,534,000 after purchasing an additional 1,197 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Immunocore by 202.8% during the second quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock worth $61,000 after purchasing an additional 1,286 shares during the last quarter. Stempoint Capital LP acquired a new stake in shares of Immunocore in the first quarter valued at $1,916,000. Janus Henderson Group PLC increased its stake in shares of Immunocore by 30.9% in the first quarter. Janus Henderson Group PLC now owns 594,712 shares of the company’s stock valued at $17,919,000 after buying an additional 140,308 shares in the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of Immunocore by 5.2% in the first quarter. Royal Bank of Canada now owns 44,714 shares of the company’s stock valued at $1,348,000 after buying an additional 2,228 shares during the last quarter. Institutional investors own 84.50% of the company’s stock.

About Immunocore

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.