HC Wainwright Has Lowered Expectations for Immunocore (NASDAQ:IMCR) Stock Price

Immunocore (NASDAQ:IMCR) had its price objective reduced by investment analysts at HC Wainwright from $100.00 to $80.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright‘s price target indicates a potential upside of 152.13% from the stock’s current price.

A number of other research firms have also recently weighed in on IMCR. Cantor Fitzgerald reissued an “overweight” rating on shares of Immunocore in a research note on Monday, July 13th. Morgan Stanley set a $43.00 price objective on Immunocore in a report on Friday, August 7th. Mizuho upped their price objective on Immunocore from $34.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Wall Street Zen cut Immunocore from a “buy” rating to a “hold” rating in a report on Tuesday, July 28th. Finally, TD Cowen upgraded Immunocore to a “strong-buy” rating in a research report on Monday, August 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.00.

Immunocore Trading Up 2.4%

Shares of Immunocore stock opened at $31.73 on Tuesday. The firm has a market capitalization of $1.63 billion, a PE ratio of -48.81 and a beta of 0.82. 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 company’s fifty day moving average price is $31.54 and its two-hundred day moving average price is $31.71. Immunocore has a 52-week low of $27.50 and a 52-week high of $40.71.

Immunocore (NASDAQ:IMCR) last announced its quarterly earnings data on Friday, November 6th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.10). The business had revenue of $102.22 million during the quarter, compared to analyst estimates of $152.49 million. Immunocore had a negative net margin of 4.20% and a negative return on equity of 4.54%. On average, analysts expect that Immunocore will post 0.02 EPS for the current year.

Hedge Funds Weigh In On Immunocore

Several institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its position in 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. Braidwell LP acquired a new stake in shares of Immunocore during the second quarter worth approximately $16,552,000. Renaissance Technologies LLC raised its stake in shares of Immunocore by 16.4% in the first quarter. Renaissance Technologies LLC now owns 164,000 shares of the company’s stock valued at $4,945,000 after acquiring an additional 23,100 shares during the last quarter. Alps Advisors Inc. raised its stake in shares of Immunocore by 32.7% in the third quarter. Alps Advisors Inc. now owns 68,246 shares of the company’s stock valued at $2,067,000 after acquiring an additional 16,826 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Immunocore in the 2nd quarter worth approximately $2,145,000. 84.50% of the stock is owned by institutional investors.

About Immunocore

Immunocore is a biotechnology company that develops T cell receptor (TCR)-based medicines for cancer and other diseases. Its ImmTAX platform is designed to create therapies that direct the body’s T cells toward targets inside cells, including targets that may be difficult for conventional antibody treatments to reach.

The company’s marketed medicine, KIMMTRAK (tebentafusp-tebn), is a TCR-based therapy approved in the United States and other markets for certain patients with unresectable or metastatic uveal melanoma.