Immunocore (NASDAQ:IMCR) Rating Lowered to "Strong Sell" at Zacks Research

Key Points

• Zacks Research downgraded Immunocore to a “Strong Sell” from “Hold,” though the Street consensus remains a “Hold” with an average price target of $60.89.
• Immunocore reported quarterly EPS of -$0.60 with a negative net margin (−8.88%) on $104.5M revenue; shares trade around $28.79 (12‑month range $27.44–$40.71) and the company has a $1.46B market cap.
• Insiders sold 19,137 shares in the last quarter (including CEO Bahija Jallal’s sale of 11,474 shares), leaving insiders with 10.40% ownership while institutional investors hold 84.5%.

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

Other equities analysts have also issued reports about the company. Needham & Company LLC boosted their price target on Immunocore from $71.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, February 26th. Mizuho set a $38.00 price objective on Immunocore in a research note on Thursday, February 19th. Jefferies Financial Group lowered Immunocore from a "buy" rating to a "hold" rating and lowered their price objective for the company from $48.00 to $33.00 in a research note on Monday, March 16th. UBS Group set a $55.00 price objective on Immunocore and gave the company a "buy" rating in a research note on Wednesday, January 7th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Immunocore in a research note on Tuesday, April 21st. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Immunocore currently has an average rating of "Hold" and an average price target of $60.89.

Immunocore Trading Up 0.8%

Shares of IMCR opened at $28.79 on Monday. Immunocore has a 12-month low of $27.44 and a 12-month high of $40.71. The company has a quick ratio of 4.01, a current ratio of 4.04 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of -41.13 and a beta of 0.83. The stock's 50-day moving average price is $31.25 and its 200 day moving average price is $33.46.

Immunocore (NASDAQ:IMCR - Get Free Report) last issued its quarterly earnings results on Saturday, February 14th. The company reported ($0.60) earnings per share (EPS) for the quarter. Immunocore had a negative net margin of 8.88% and a negative return on equity of 9.20%. The firm had revenue of $104.48 million for the quarter. As a group, research analysts predict that Immunocore will post -0.97 earnings per share for the current year.

Insiders Place Their Bets

In other Immunocore news, insider Leger Tina Amber St sold 1,000 shares of the company's stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $32.35, for a total transaction of $32,350.00. Following the transaction, the insider owned 1,119 shares of the company's stock, valued at approximately $36,199.65. This represents a 47.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Bahija Jallal sold 11,474 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $32.35, for a total value of $371,183.90. Following the completion of the transaction, the chief executive officer directly owned 12,343 shares in the company, valued at approximately $399,296.05. This trade represents a 48.18% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 19,137 shares of company stock valued at $619,082. 10.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Immunocore

Several hedge funds have recently added to or reduced their stakes in the business. Harbour Investments Inc. raised its stake 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 buying an additional 388 shares during the period. DNB Asset Management AS raised its stake in Immunocore by 6.4% during the 3rd quarter. DNB Asset Management AS now owns 8,116 shares of the company's stock worth $295,000 after buying an additional 488 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Immunocore by 37.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,120 shares of the company's stock worth $74,000 after buying an additional 572 shares during the period. R Squared Ltd raised its stake in Immunocore by 7.4% during the 4th quarter. R Squared Ltd now owns 8,849 shares of the company's stock worth $307,000 after buying an additional 606 shares during the period. Finally, Leonteq Securities AG acquired a new stake in Immunocore during the 4th quarter worth $30,000. Institutional investors and hedge funds 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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