HC Wainwright Reiterates "Buy" Rating for Immunocore (NASDAQ:IMCR)

Key Points

• HC Wainwright reiterated a "Buy" rating on Immunocore with a $100.00 price target, implying about a 216.26% upside from the recent close.
• Analyst views are mixed: the consensus rating is "Hold" with an average price target of $60.89 (six Buys, four Holds, one Sell).
• Immunocore trades around $31.62 (market cap ~$1.6B), reported -$0.60 EPS last quarter and is expected to post -0.94 EPS for the year, while insiders recently sold 19,137 shares (~$619,082), materially reducing some holdings by roughly 50%.

Immunocore (NASDAQ:IMCR - Get Free Report)'s stock had its "buy" rating reaffirmed by HC Wainwright in a report released on Tuesday,Benzinga reports. They presently have a $100.00 price target on the stock. HC Wainwright's target price would indicate a potential upside of 216.26% from the company's previous close.

Other equities analysts have also issued research reports about the company. Mizuho set a $38.00 price objective on Immunocore in a research note on Thursday, February 19th. Zacks Research lowered Immunocore from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 25th. Needham & Company LLC upped their price target on Immunocore from $71.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, February 26th. UBS Group set a $55.00 price target on Immunocore and gave the company a "buy" rating in a research note on Wednesday, January 7th. Finally, Jefferies Financial Group lowered Immunocore from a "buy" rating to a "hold" rating and cut their price target for the company from $48.00 to $33.00 in a research note on Monday, March 16th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $60.89.

Immunocore Price Performance

Immunocore stock traded up $0.15 on Tuesday, reaching $31.62. The company's stock had a trading volume of 103,964 shares, compared to its average volume of 435,730. The company has a debt-to-equity ratio of 1.03, a quick ratio of 4.01 and a current ratio of 4.04. The company has a market cap of $1.60 billion, a price-to-earnings ratio of -45.17 and a beta of 0.83. The business's fifty day moving average price is $31.68 and its 200 day moving average price is $33.78. Immunocore has a twelve month low of $26.37 and a twelve month high of $40.71.

Immunocore (NASDAQ:IMCR - Get Free Report) last posted its quarterly earnings data on Saturday, February 14th. The company reported ($0.60) EPS for the quarter. The business had revenue of $104.48 million during the quarter. Immunocore had a negative return on equity of 9.20% and a negative net margin of 8.88%. Equities analysts expect that Immunocore will post -0.94 earnings per share for the current fiscal year.

Insider Activity

In other news, insider David M. Berman sold 5,965 shares of the company's stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $32.35, for a total transaction of $192,967.75. Following the transaction, the insider owned 5,859 shares of the company's stock, valued at $189,538.65. This represents a 50.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Bahija Jallal sold 11,474 shares of the company's stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $32.35, for a total value of $371,183.90. Following the transaction, the chief executive officer directly owned 12,343 shares in the company, valued at $399,296.05. This trade represents a 48.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 19,137 shares of company stock valued at $619,082 over the last 90 days. 10.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Immunocore

Several hedge funds have recently added to or reduced their stakes in IMCR. Millennium Management LLC lifted its stake in Immunocore by 334.3% in the third quarter. Millennium Management LLC now owns 1,265,965 shares of the company's stock valued at $45,993,000 after buying an additional 974,463 shares during the period. Vestal Point Capital LP acquired a new position in Immunocore in the fourth quarter valued at about $20,305,000. Janus Henderson Group PLC acquired a new position in Immunocore in the fourth quarter valued at about $15,734,000. Bellevue Group AG lifted its stake in Immunocore by 14.5% in the third quarter. Bellevue Group AG now owns 2,796,803 shares of the company's stock valued at $101,608,000 after buying an additional 354,973 shares during the period. Finally, Tang Capital Management LLC lifted its stake in Immunocore by 14.0% in the fourth quarter. Tang Capital Management LLC now owns 2,628,538 shares of the company's stock valued at $91,237,000 after buying an additional 322,930 shares during the period. 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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