Immunocore (NASDAQ:IMCR) Downgraded by Zacks Research to "Hold"

Key Points

• Zacks Research downgraded Immunocore from strong-buy to hold, adding to a mixed analyst picture for the stock.
• Other firms have taken differing views: Jefferies cut its rating to hold and lowered its price target to $33, while HC Wainwright kept a buy rating with a $100 target. Overall, MarketBeat shows a consensus Hold rating with an average price target of $56.71.
• Immunocore last reported Q1 earnings of $0.25 per share, beating estimates, but revenue of $106.68 million fell short of expectations despite 13.6% year-over-year growth.

Immunocore (NASDAQ:IMCR - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Tuesday,Zacks.com reports.

Several other research analysts have also issued reports on the stock. Jefferies Financial Group lowered shares of Immunocore from a "buy" rating to a "hold" rating and decreased their price target for the stock from $48.00 to $33.00 in a research report on Monday, March 16th. Wall Street Zen upgraded Immunocore from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. HC Wainwright reaffirmed a "buy" rating and set a $100.00 target price on shares of Immunocore in a research report on Monday, April 20th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Immunocore in a report on Tuesday, April 21st. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $56.71.

Immunocore Price Performance

Shares of Immunocore stock opened at $33.78 on Tuesday. Immunocore has a 52 week low of $27.56 and a 52 week high of $40.71. The company has a current ratio of 4.18, a quick ratio of 4.15 and a debt-to-equity ratio of 1.00. The stock has a market cap of $1.72 billion, a PE ratio of -61.42 and a beta of 0.73. The company's 50-day moving average price is $29.50 and its two-hundred day moving average price is $31.39.

Immunocore (NASDAQ:IMCR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.51. The company had revenue of $106.68 million during the quarter, compared to analyst estimates of $145.20 million. Immunocore had a negative net margin of 6.68% and a negative return on equity of 7.07%. The business's revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 EPS. As a group, sell-side analysts anticipate that Immunocore will post 0.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Immunocore

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in Immunocore by 45.1% during the 1st quarter. Royal Bank of Canada now owns 44,011 shares of the company's stock valued at $1,306,000 after purchasing an additional 13,689 shares during the period. Geode Capital Management LLC grew its holdings in shares of Immunocore by 40.1% during the second quarter. Geode Capital Management LLC now owns 52,001 shares of the company's stock valued at $1,632,000 after buying an additional 14,877 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Immunocore by 425.8% during the second quarter. Marshall Wace LLP now owns 146,610 shares of the company's stock valued at $4,601,000 after buying an additional 118,728 shares in the last quarter. Sei Investments Co. acquired a new position in Immunocore during the second quarter valued at $983,000. Finally, Cubist Systematic Strategies LLC raised its position in Immunocore by 108.0% during the second quarter. Cubist Systematic Strategies LLC now owns 142,757 shares of the company's stock valued at $4,480,000 after buying an additional 74,128 shares during the period. Institutional investors and hedge funds own 84.50% of the company's stock.

Immunocore Company Profile

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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