Immunocore (NASDAQ:IMCR) Rating Increased to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded Immunocore to “strong buy” from “hold,” while analyst sentiment overall remains a “Moderate Buy,” with an average price target of $56.29.
• Immunocore reported a quarterly loss of $0.02 per share and revenue of $115.93 million, missing consensus estimates of a $0.01 loss per share and $148.44 million in revenue.
• The stock opened at $34.50, compared with a 12-month range of $27.56 to $40.71; institutional investors and hedge funds own approximately 84.5% of outstanding shares.

Immunocore (NASDAQ:IMCR - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

IMCR has been the topic of a number of other reports. Weiss Ratings reiterated a "sell (e+)" rating on shares of Immunocore in a research report on Friday, July 17th. Mizuho upped their target price on shares of Immunocore from $34.00 to $35.00 and gave the stock a "neutral" rating in a report on Monday. HC Wainwright reaffirmed a "buy" rating and issued a $100.00 target price on shares of Immunocore in a report on Monday, April 20th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Immunocore in a research report on Monday, July 13th. Finally, Wall Street Zen downgraded shares of Immunocore from a "buy" rating to a "hold" rating in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Immunocore presently has a consensus rating of "Moderate Buy" and an average target price of $56.29.

Immunocore Stock Performance

NASDAQ:IMCR opened at $34.50 on Wednesday. Immunocore has a 12-month low of $27.56 and a 12-month high of $40.71. The company has a quick ratio of 4.15, a current ratio of 4.18 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $1.76 billion, a PE ratio of -62.73 and a beta of 0.74. The firm has a 50-day moving average price of $31.54 and a 200 day moving average price of $31.33.

Immunocore (NASDAQ:IMCR - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.01). Immunocore had a negative net margin of 6.68% and a negative return on equity of 7.07%. The company had revenue of $115.93 million during the quarter, compared to the consensus estimate of $148.44 million. Research analysts anticipate that Immunocore will post 0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Immunocore

Institutional investors and hedge funds have recently bought and sold shares of the business. Leonteq Securities AG acquired a new stake in shares of Immunocore in the fourth quarter valued at $30,000. Harbour Investments Inc. grew its holdings in Immunocore by 60.2% during the 4th quarter. Harbour Investments Inc. now owns 1,033 shares of the company's stock worth $36,000 after acquiring an additional 388 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new stake in Immunocore in the 4th quarter valued at about $47,000. Arax Advisory Partners increased its position in Immunocore by 302.9% in 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 raised 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. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source