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

Key Points

• HC Wainwright reissued a "Buy" rating with a $100 price target, implying about a 218% upside from the current share price.
• Analyst coverage is mixed—six Buy, four Hold and one Sell—leaving Immunocore with an average rating of "Hold" and a consensus price target of $60.89.
• Shares trade around $31.42 (market cap ~$1.59B) with recent quarterly loss (‑$0.60 EPS), notable insider selling, and high institutional ownership (~84.5%).

Immunocore (NASDAQ:IMCR - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at HC Wainwright in a research report issued on Monday,Benzinga reports. They presently have a $100.00 price target on the stock. HC Wainwright's price target would indicate a potential upside of 218.32% from the stock's current price.

Several other equities research analysts have also issued reports on IMCR. Weiss Ratings reissued a "sell (e+)" rating on shares of Immunocore in a research report on Thursday, January 22nd. UBS Group set a $55.00 price target on Immunocore and gave the company a "buy" rating in a research report on Wednesday, January 7th. Wall Street Zen lowered Immunocore from a "buy" rating to a "hold" rating in a research report on Saturday, January 31st. Needham & Company LLC upped their price target on Immunocore from $71.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, February 26th. Finally, Zacks Research lowered Immunocore from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 25th. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Immunocore currently has an average rating of "Hold" and a consensus price target of $60.89.

Immunocore Stock Down 0.1%

IMCR stock traded down $0.04 during mid-day trading on Monday, hitting $31.42. 278,953 shares of the company were exchanged, compared to its average volume of 433,021. The company has a market capitalization of $1.59 billion, a PE ratio of -44.84 and a beta of 0.83. The company has a current ratio of 4.04, a quick ratio of 4.01 and a debt-to-equity ratio of 1.03. Immunocore has a twelve month low of $27.44 and a twelve month high of $40.71. The firm has a fifty day simple moving average of $31.67 and a 200 day simple moving average of $33.68.

Immunocore (NASDAQ:IMCR - Get Free Report) last announced its quarterly earnings data on Saturday, February 14th. The company reported ($0.60) earnings per share for the quarter. The company had revenue of $104.48 million for the quarter. Immunocore had a negative return on equity of 9.20% and a negative net margin of 8.88%. On average, research analysts forecast that Immunocore will post -0.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Leger Tina Amber St sold 1,000 shares of the firm'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 directly owned 1,119 shares of the company's stock, valued at approximately $36,199.65. This trade represents a 47.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David M. Berman sold 5,965 shares of the business's stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $32.35, for a total transaction of $192,967.75. Following the completion of the sale, the insider owned 5,859 shares in the company, valued at $189,538.65. The trade was a 50.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 19,137 shares of company stock valued at $619,082 over the last three months. Company insiders own 10.40% of the company's stock.

Institutional Trading of Immunocore

A number of hedge funds and other institutional investors have recently made changes to their positions in IMCR. Royal Bank of Canada raised its holdings in shares of Immunocore by 45.1% in the 1st quarter. Royal Bank of Canada now owns 44,011 shares of the company's stock worth $1,306,000 after purchasing an additional 13,689 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Immunocore by 40.1% in the 2nd quarter. Geode Capital Management LLC now owns 52,001 shares of the company's stock worth $1,632,000 after purchasing an additional 14,877 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Immunocore by 425.8% in the 2nd quarter. Marshall Wace LLP now owns 146,610 shares of the company's stock worth $4,601,000 after purchasing an additional 118,728 shares in the last quarter. Sei Investments Co. bought a new stake in shares of Immunocore in the 2nd quarter worth approximately $983,000. Finally, Cubist Systematic Strategies LLC increased its stake in Immunocore by 108.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 142,757 shares of the company's stock worth $4,480,000 after purchasing an additional 74,128 shares in the last quarter. 84.50% of the stock is currently owned by institutional investors.

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.

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