Immunocore (NASDAQ:IMCR) Downgraded to "Hold" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Immunocore from a “buy” to a “hold” rating, adding to a series of mixed analyst calls on the stock. Overall, analysts now show a consensus “Hold” rating with a consensus price target of $56.71.
• IMCR shares were lower, trading at $31.95 on Friday after a $1.13 decline, with the stock near the middle of its 52-week range of $27.56 to $40.71. The company has a market cap of about $1.63 billion.
• Recent earnings showed a mixed picture: Immunocore beat EPS expectations at $0.25, but revenue of $106.68 million fell short of the $145.20 million estimate. Revenue still rose 13.6% year over year, while the company remains unprofitable.

Immunocore (NASDAQ:IMCR - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Sunday.

A number of other equities analysts have also recently weighed in on IMCR. Zacks Research cut Immunocore from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 7th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Immunocore in a report on Tuesday, April 21st. HC Wainwright reissued a "buy" rating and issued a $100.00 target price on shares of Immunocore in a research report on Monday, April 20th. Finally, Jefferies Financial Group lowered shares of 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 report on Monday, March 16th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $56.71.

Immunocore Price Performance

Shares of NASDAQ IMCR traded down $1.13 during trading on Friday, hitting $31.95. The company had a trading volume of 410,618 shares, compared to its average volume of 612,334. Immunocore has a 52 week low of $27.56 and a 52 week high of $40.71. The business's 50-day moving average is $29.67 and its 200 day moving average is $31.37. The company has a market cap of $1.63 billion, a P/E ratio of -58.09 and a beta of 0.73. The company has a debt-to-equity ratio of 1.00, a quick ratio of 4.15 and a current ratio of 4.18.

Immunocore (NASDAQ:IMCR - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.26) by $0.51. Immunocore had a negative return on equity of 7.07% and a negative net margin of 6.68%.The business had revenue of $106.68 million for the quarter, compared to analysts' expectations of $145.20 million. During the same period in the previous year, the firm posted $0.10 EPS. The company's quarterly revenue was up 13.6% on a year-over-year basis. Equities research analysts predict that Immunocore will post 0.06 earnings per share for the current fiscal year.

Institutional Trading of Immunocore

A number of hedge funds have recently made changes to their positions in IMCR. Leonteq Securities AG purchased a new position in Immunocore during the fourth quarter valued at approximately $30,000. Harbour Investments Inc. lifted its position in Immunocore by 60.2% in the 4th quarter. Harbour Investments Inc. now owns 1,033 shares of the company's stock worth $36,000 after buying an additional 388 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new stake in shares of Immunocore during the 4th quarter valued at $47,000. Arax Advisory Partners grew its holdings in shares of Immunocore by 302.9% during the 4th quarter. Arax Advisory Partners now owns 1,386 shares of the company's stock valued at $48,000 after acquiring an additional 1,042 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Immunocore by 202.8% in the second quarter. GAMMA Investing LLC now owns 1,920 shares of the company's stock worth $61,000 after acquiring an additional 1,286 shares during the last quarter. 84.50% of the stock is owned by hedge funds and other institutional investors.

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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