Immunocore (NASDAQ:IMCR) Rating Lowered to Hold at Zacks Research

Key Points

• Zacks Research downgraded Immunocore from “strong buy” to “hold,” while analysts remain mixed; MarketBeat’s consensus rating is “moderate buy” with a $56.38 price target.
• Immunocore shares opened at $36.13, down 3.8%, with a market capitalization of approximately $1.86 billion. The stock has traded between $27.56 and $40.71 over the past year.
• The company reported quarterly EPS of negative $0.02, missing the consensus estimate of negative $0.01. Institutional investors own approximately 84.5% of Immunocore’s outstanding shares.

Immunocore (NASDAQ:IMCR - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Thursday, Zacks reports.

A number of other equities analysts have also weighed in on the company. Wall Street Zen lowered Immunocore from a "buy" rating to a "hold" rating in a research note on Tuesday, July 28th. Morgan Stanley set a $43.00 target price on Immunocore in a research note on Friday, August 7th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Immunocore in a report on Monday, July 13th. JPMorgan Chase & Co. started coverage on Immunocore in a report on Friday, August 21st. They issued an "overweight" rating and a $50.00 price target for the company. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Immunocore in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $56.38.

Immunocore Stock Down 3.8%

IMCR stock opened at $36.13 on Thursday. The company has a market capitalization of $1.86 billion, a P/E ratio of -97.65 and a beta of 0.74. Immunocore has a 12 month low of $27.56 and a 12 month high of $40.71. The firm's fifty day simple moving average is $34.49 and its 200-day simple moving average is $31.75. The company has a debt-to-equity ratio of 0.94, a current ratio of 4.47 and a quick ratio of 4.44.

Immunocore (NASDAQ:IMCR - Get Free Report) last issued its 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%. As a group, equities research analysts forecast that Immunocore will post 0.06 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. denkapparat Operations GmbH purchased a new position in Immunocore in the 2nd quarter valued at about $209,000. Braidwell LP purchased a new stake in Immunocore during the 2nd quarter worth approximately $16,552,000. Headlands Technologies LLC acquired a new position in shares of Immunocore during the second quarter valued at approximately $290,000. Public Employees Retirement System of Ohio acquired a new position in shares of Immunocore during the second quarter valued at approximately $2,145,000. Finally, Hennion & Walsh Asset Management Inc. lifted its position in shares of Immunocore by 2.5% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 48,324 shares of the company's stock valued at $1,534,000 after acquiring an additional 1,197 shares in the last quarter. Institutional investors and hedge funds 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.

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