Immunocore (NASDAQ:IMCR) Stock Price Target Lowered at HC Wainwright

Key Points

• HC Wainwright lowered its price target on Immunocore from $100 to $80 but maintained a Buy rating, implying about 152% upside from the stock’s current price.
• Immunocore reported a quarterly loss of $0.28 per share, missing the $0.18 loss consensus; revenue of $102.22 million also fell short of analysts’ $152.49 million estimate.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $53. Shares opened at $31.73.

Immunocore (NASDAQ:IMCR - Get Free Report) had its target price lowered 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 target price points to a potential upside of 152.13% from the stock's current price.

IMCR has been the topic of several other research reports. Morgan Stanley set a $43.00 target price on shares of Immunocore in a report on Friday, August 7th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Immunocore in a research report on Monday, July 13th. Zacks Research lowered Immunocore from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 3rd. JPMorgan Chase & Co. assumed coverage on Immunocore in a report on Friday, August 21st. They issued an "overweight" rating and a $50.00 target price on the stock. Finally, Mizuho lifted their price target on Immunocore from $34.00 to $35.00 and gave the stock a "neutral" rating in a research report on Monday, August 3rd. 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 company's stock. According to data from MarketBeat, Immunocore presently has a consensus rating of "Moderate Buy" and an average target price of $53.00.

Immunocore Stock Performance

IMCR stock opened at $31.73 on Tuesday. The company has a quick ratio of 4.44, a current ratio of 4.47 and a debt-to-equity ratio of 0.94. Immunocore has a 12 month low of $27.50 and a 12 month high of $40.71. The firm has a 50 day moving average of $31.54 and a two-hundred day moving average of $31.71. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of -48.81 and a beta of 0.82.

Immunocore (NASDAQ:IMCR - Get Free Report) last posted its earnings results on Friday, November 6th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.10). The business had revenue of $102.22 million for the quarter, compared to analyst estimates of $152.49 million. Immunocore had a negative return on equity of 4.54% and a negative net margin of 4.20%. As a group, equities analysts anticipate that Immunocore will post 0.02 EPS for the current fiscal year.

Institutional Trading of Immunocore

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Braidwell LP acquired a new position in shares of Immunocore during the second quarter valued at about $16,552,000. Janus Henderson Group PLC grew its position in Immunocore by 30.9% during the first quarter. Janus Henderson Group PLC now owns 594,712 shares of the company's stock worth $17,919,000 after buying an additional 140,308 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Immunocore during the second quarter worth about $2,145,000. Stempoint Capital LP bought a new position in Immunocore during the first quarter valued at about $1,916,000. Finally, Engineers Gate Manager LP increased its stake in Immunocore by 334.3% during 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 period. 84.50% of the stock is currently owned by institutional investors and hedge funds.

Immunocore Company Profile

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.

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