Immunocore (NASDAQ:IMCR) Cut to Hold at Wall Street Zen

Key Points

• Immunocore's stock was downgraded from a "buy" to a "hold" rating by analysts at Wall Street Zen.
• Despite the downgrade, Immunocore received a price target increase from Oppenheimer, raising it from $85.00 to $86.00, indicating continued analyst interest.
• The company's revenue increased by 30% year-over-year, reaching $130.65 million, surpassing analyst estimates for the quarter.

Immunocore (NASDAQ:IMCR - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

Several other research analysts have also commented on the company. HC Wainwright reiterated a "buy" rating and issued a $100.00 price target on shares of Immunocore in a research report on Monday, June 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Immunocore in a report on Tuesday, May 27th. They set a "buy" rating and a $65.00 price target on the stock. JPMorgan Chase & Co. cut their price target on shares of Immunocore from $54.00 to $50.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Finally, Oppenheimer upped their price target on shares of Immunocore from $85.00 to $86.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $58.89.

Immunocore Stock Performance

Immunocore stock opened at $31.97 on Friday. The company's 50-day moving average price is $34.15 and its 200-day moving average price is $31.24. The company has a quick ratio of 6.31, a current ratio of 6.36 and a debt-to-equity ratio of 1.03. The company has a market cap of $1.61 billion, a PE ratio of -79.93 and a beta of 0.77. Immunocore has a twelve month low of $23.15 and a twelve month high of $39.33.

Immunocore (NASDAQ:IMCR - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.01. The company had revenue of $130.65 million during the quarter, compared to analyst estimates of $122.96 million. Immunocore had a negative return on equity of 5.46% and a negative net margin of 5.70%. The firm's revenue was up 30.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.23) earnings per share. On average, equities research analysts forecast that Immunocore will post -0.94 EPS for the current fiscal year.

Institutional Investors Weigh In On Immunocore

Several hedge funds have recently modified their holdings of IMCR. Baker BROS. Advisors LP lifted its position in shares of Immunocore by 53.3% in the 1st quarter. Baker BROS. Advisors LP now owns 2,322,656 shares of the company's stock worth $68,913,000 after purchasing an additional 807,338 shares during the period. Deep Track Capital LP purchased a new stake in shares of Immunocore in the 4th quarter worth approximately $15,322,000. Tang Capital Management LLC lifted its position in shares of Immunocore by 40.7% in the 4th quarter. Tang Capital Management LLC now owns 1,555,600 shares of the company's stock worth $45,890,000 after purchasing an additional 450,000 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of Immunocore in the 4th quarter worth approximately $11,897,000. Finally, T. Rowe Price Investment Management Inc. lifted its position in shares of Immunocore by 5.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 7,051,818 shares of the company's stock worth $209,228,000 after purchasing an additional 351,610 shares during the period. Hedge funds and other institutional investors own 84.50% of the company's stock.

Immunocore Company Profile

Immunocore Holdings plc, a commercial-stage biotechnology company, engages in the development of immunotherapies for the treatment of cancer, infectious, and autoimmune diseases. The company offers KIMMTRAK for the treatment of patients with unresectable or metastatic uveal melanoma. It also develops other programs for oncology, including tebentafusp that is in Phase 2/3 clinical trial to treat advanced cutaneous melanoma.

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