Immunocore (NASDAQ:IMCR) Receives Buy Rating from HC Wainwright

Key Points

• Immunocore's stock received a "buy" rating from HC Wainwright with a target price of $100, suggesting a potential upside of 216.31% from its previous close.
• The company's recent quarterly results exceeded expectations, reporting revenue of $130.65 million and an EPS of ($0.20), slightly better than forecasts.
• Immunocore's shares have seen trading fluctuation, with a market cap of $1.59 billion and a twelve-month high of $39.33, down to $31.62 in recent trading.

Immunocore (NASDAQ:IMCR - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They currently have a $100.00 target price on the stock. HC Wainwright's target price suggests a potential upside of 216.31% from the company's previous close.

IMCR has been the subject of a number of other reports. Wall Street Zen downgraded Immunocore from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Zacks Research cut shares of Immunocore from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 4th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Immunocore in a research report on Wednesday, October 8th. Guggenheim began coverage on shares of Immunocore in a research report on Thursday, September 18th. They set a "neutral" rating on the stock. Finally, Jefferies Financial Group began coverage on shares of Immunocore in a research report on Monday, August 25th. They set a "buy" rating and a $48.00 price target on the stock. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $56.89.

Immunocore Stock Performance

Shares of IMCR traded down $1.96 during midday trading on Wednesday, reaching $31.62. 193,373 shares of the stock were exchanged, compared to its average volume of 329,727. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of -79.19 and a beta of 0.79. Immunocore has a twelve month low of $23.15 and a twelve month high of $39.33. The business's 50-day moving average price is $33.86 and its 200 day moving average price is $32.64. The company has a debt-to-equity ratio of 1.01, a current ratio of 5.89 and a quick ratio of 5.86.

Immunocore (NASDAQ:IMCR - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.01. Immunocore had a negative return on equity of 5.40% and a negative net margin of 5.70%.The business had revenue of $130.65 million for the quarter, compared to analyst estimates of $122.96 million. During the same quarter in the previous year, the company earned ($0.23) EPS. The company's quarterly revenue was up 30.0% on a year-over-year basis. On average, sell-side analysts expect that Immunocore will post -0.94 EPS for the current fiscal year.

Insider Activity at Immunocore

In related news, insider David M. Berman sold 22,532 shares of Immunocore stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $35.67, for a total transaction of $803,716.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 10.40% of the company's stock.

Institutional Trading of Immunocore

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in shares of Immunocore by 51.6% in the third quarter. GAMMA Investing LLC now owns 914 shares of the company's stock worth $33,000 after buying an additional 311 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its stake in Immunocore by 4,696.3% in the second quarter. Caitong International Asset Management Co. Ltd now owns 1,295 shares of the company's stock valued at $41,000 after purchasing an additional 1,268 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in Immunocore in the second quarter valued at approximately $42,000. Osaic Holdings Inc. raised its stake in Immunocore by 117.4% in the second quarter. Osaic Holdings Inc. now owns 3,148 shares of the company's stock valued at $97,000 after purchasing an additional 1,700 shares in the last quarter. Finally, State of Tennessee Department of Treasury purchased a new stake in Immunocore in the second quarter valued at approximately $132,000. Institutional investors own 84.50% of the company's stock.

Immunocore Company Profile

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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