Immunocore (NASDAQ:IMCR) Rating Increased to Buy at Wall Street Zen

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

A number of other analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Immunocore in a research report on Tuesday, May 27th. They set a "buy" rating and a $65.00 price objective for the company. Mizuho reduced their price objective on shares of Immunocore from $38.00 to $33.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. JPMorgan Chase & Co. decreased their target price on shares of Immunocore from $54.00 to $50.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Needham & Company LLC reiterated a "buy" rating and issued a $71.00 price target on shares of Immunocore in a report on Thursday, April 10th. Finally, Morgan Stanley reiterated an "equal weight" rating and issued a $35.00 target price on shares of Immunocore in a research note on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, Immunocore currently has a consensus rating of "Moderate Buy" and an average price target of $58.89.

Immunocore Trading Down 2.7%

Shares of IMCR opened at $34.68 on Friday. The firm has a 50-day moving average price of $31.06 and a 200 day moving average price of $30.31. Immunocore has a 12-month low of $23.15 and a 12-month high of $41.54. The company has a current ratio of 3.78, a quick ratio of 3.76 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $1.74 billion, a P/E ratio of -36.50 and a beta of 0.83.

Immunocore (NASDAQ:IMCR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.35) by $0.45. Immunocore had a negative return on equity of 12.84% and a negative net margin of 15.87%. The company had revenue of $125.13 million during the quarter, compared to the consensus estimate of $108.82 million. During the same period in the previous year, the business earned ($0.49) EPS. Immunocore's revenue for the quarter was up 33.6% on a year-over-year basis. Sell-side analysts forecast that Immunocore will post -0.94 EPS for the current year.

Insider Transactions at Immunocore

In related news, Director Bros. Advisors Lp Baker acquired 807,338 shares of the company's stock in a transaction dated Monday, March 17th. The shares were bought at an average price of $29.72 per share, for a total transaction of $23,994,085.36. Following the purchase, the director now directly owns 2,144,060 shares in the company, valued at approximately $63,721,463.20. This trade represents a 60.40% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 10.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. GF Fund Management CO. LTD. acquired a new stake in Immunocore in the 4th quarter valued at about $25,000. Oppenheimer Asset Management Inc. bought a new stake in Immunocore in the first quarter valued at approximately $225,000. Checkpoint Capital L.P. acquired a new stake in shares of Immunocore in the first quarter valued at approximately $267,000. Banque Transatlantique SA bought a new position in shares of Immunocore during the 1st quarter worth approximately $278,000. Finally, NEOS Investment Management LLC increased its holdings in shares of Immunocore by 10.9% during the 4th quarter. NEOS Investment Management LLC now owns 11,194 shares of the company's stock worth $330,000 after acquiring an additional 1,102 shares during the last quarter. Institutional investors own 84.50% of the company's stock.

About Immunocore

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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