Immunocore (NASDAQ:IMCR) Raised to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Immunocore from “hold” to “buy”, adding to a mixed analyst picture that currently works out to a consensus “hold” rating with an average price target of $57.75.
• Immunocore shares fell 3.4% and opened at $29.58. The stock remains well below its 52-week high of $40.71, while the company carries a market cap of about $1.5 billion.
• The company reported better-than-expected EPS of $0.25 for the quarter, but revenue missed estimates at $106.68 million versus $145.15 million expected, despite a 13.6% year-over-year increase in quarterly revenue.

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

A number of other analysts have also commented on IMCR. HC Wainwright reissued a "buy" rating and issued a $100.00 target price on shares of Immunocore in a report on Monday, April 20th. Zacks Research lowered Immunocore from a "hold" rating to a "strong sell" rating in a report on Monday, April 27th. Mizuho set a $38.00 target price on Immunocore in a report on Thursday, February 19th. Jefferies Financial Group lowered Immunocore from a "buy" rating to a "hold" rating and reduced their target price for the stock from $48.00 to $33.00 in a report on Monday, March 16th. Finally, Needham & Company LLC lifted their target price on Immunocore from $71.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, February 26th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $57.75.

Immunocore Stock Down 3.4%

Immunocore stock opened at $29.58 on Friday. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -53.78 and a beta of 0.74. The stock has a fifty day simple moving average of $30.87 and a two-hundred day simple moving average of $33.32. Immunocore has a 12 month low of $27.44 and a 12 month high of $40.71. The company has a current ratio of 4.18, a quick ratio of 4.01 and a debt-to-equity ratio of 1.00.

Immunocore (NASDAQ:IMCR - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $0.25 EPS for the quarter, topping analysts' consensus estimates of ($0.26) by $0.51. The business had revenue of $106.68 million during the quarter, compared to analyst estimates of $145.15 million. Immunocore had a negative return on equity of 7.07% and a negative net margin of 6.68%.The company's quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.10 EPS. Equities analysts predict that Immunocore will post -0.83 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider David M. Berman sold 5,965 shares of Immunocore stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $32.35, for a total value of $192,967.75. Following the completion of the sale, the insider owned 5,859 shares of the company's stock, valued at $189,538.65. The trade was a 50.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Leger Tina Amber St sold 1,000 shares of Immunocore stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $32.35, for a total value of $32,350.00. Following the completion of the sale, the insider directly owned 1,119 shares of the company's stock, valued at $36,199.65. The trade was a 47.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 19,137 shares of company stock valued at $619,082 over the last 90 days. Company insiders own 10.40% of the company's stock.

Institutional Trading of Immunocore

Several large investors have recently modified their holdings of IMCR. Royal Bank of Canada grew its holdings in shares of Immunocore by 45.1% in the first quarter. Royal Bank of Canada now owns 44,011 shares of the company's stock worth $1,306,000 after acquiring an additional 13,689 shares during the period. Geode Capital Management LLC grew its holdings in shares of Immunocore by 40.1% in the second quarter. Geode Capital Management LLC now owns 52,001 shares of the company's stock worth $1,632,000 after acquiring an additional 14,877 shares during the period. Marshall Wace LLP grew its holdings in shares of Immunocore by 425.8% in the second quarter. Marshall Wace LLP now owns 146,610 shares of the company's stock worth $4,601,000 after acquiring an additional 118,728 shares during the period. Sei Investments Co. bought a new stake in shares of Immunocore in the second quarter worth $983,000. Finally, Cubist Systematic Strategies LLC grew its holdings 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 purchasing an additional 74,128 shares during the period. Institutional investors 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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