Zacks Research Downgrades Immunocore (NASDAQ:IMCR) to Hold

Key Points

• Immunocore has been downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating.
• Despite the downgrade, the stock has a consensus rating of "Moderate Buy" with a target price of $56.89 according to analysts.
• The company reported a revenue increase of 30% year-over-year, with a positive earnings report beating analyst expectations.

Zacks Research lowered shares of Immunocore (NASDAQ:IMCR - Free Report) from a strong-buy rating to a hold rating in a research report report published on Thursday, September 4th,Zacks.com reports.

A number of other analysts have also recently weighed in on IMCR. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Immunocore in a research note on Tuesday, May 27th. They issued a "buy" rating and a $65.00 target price on the stock. Jefferies Financial Group began coverage on shares of Immunocore in a research note on Monday, August 25th. They set a "buy" rating and a $48.00 price objective on the stock. HC Wainwright reiterated a "buy" rating and issued a $100.00 target price on shares of Immunocore in a research note on Monday, June 2nd. Wall Street Zen cut shares of Immunocore from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Oppenheimer lifted their target price on shares of Immunocore from $85.00 to $86.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $56.89.

Immunocore Price Performance

NASDAQ IMCR traded down $0.28 on Thursday, reaching $36.13. The company's stock had a trading volume of 69,058 shares, compared to its average volume of 333,337. The firm has a market cap of $1.82 billion, a PE ratio of -90.18 and a beta of 0.77. The business has a 50-day moving average price of $33.88 and a 200 day moving average price of $31.68. Immunocore has a 52 week low of $23.15 and a 52 week high of $39.33. The company has a current ratio of 5.89, a quick ratio of 5.86 and a debt-to-equity ratio of 1.01.

Immunocore (NASDAQ:IMCR - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.20) earnings per share for the quarter, beating analysts' consensus estimates of ($0.21) by $0.01. The business had revenue of $130.65 million for the quarter, compared to analysts' expectations of $122.96 million. Immunocore had a negative net margin of 5.70% and a negative return on equity of 5.40%. The firm's revenue for the quarter was up 30.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.23) earnings per share. Sell-side analysts expect that Immunocore will post -0.94 EPS for the current year.

Institutional Trading of Immunocore

Hedge funds have recently modified their holdings of the stock. GF Fund Management CO. LTD. bought a new stake in shares of Immunocore during the fourth quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Immunocore by 4,696.3% during the second quarter. Caitong International Asset Management Co. Ltd now owns 1,295 shares of the company's stock valued at $41,000 after purchasing an additional 1,268 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of Immunocore during the second quarter valued at approximately $42,000. Osaic Holdings Inc. grew its stake in shares of Immunocore by 117.4% during the second quarter. Osaic Holdings Inc. now owns 3,148 shares of the company's stock valued at $97,000 after purchasing an additional 1,700 shares during the last quarter. Finally, State of Tennessee Department of Treasury bought a new stake in shares of Immunocore during the second quarter valued at approximately $132,000. 84.50% of the stock is owned by institutional investors.

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.