Immunocore (NASDAQ:IMCR) Shares Gap Up - Still a Buy?

Immunocore Holdings plc (NASDAQ:IMCR - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $31.16, but opened at $33.11. Immunocore shares last traded at $32.64, with a volume of 77,327 shares trading hands.

Wall Street Analyst Weigh In

IMCR has been the subject of several research analyst reports. Mizuho lowered their price objective on shares of Immunocore from $38.00 to $33.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Needham & Company LLC reissued a "buy" rating and issued a $71.00 price target on shares of Immunocore in a research report on Thursday, April 10th. HC Wainwright reissued a "buy" rating and issued a $100.00 price target on shares of Immunocore in a research report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Immunocore in a research report on Tuesday. They issued a "buy" rating and a $65.00 price target for the company. Finally, Morgan Stanley reissued an "equal weight" rating and issued a $35.00 price target on shares of Immunocore in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Immunocore currently has an average rating of "Moderate Buy" and a consensus target price of $58.89.

Immunocore Stock Up 4.1%

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 stock has a market capitalization of $1.83 billion, a PE ratio of -38.41 and a beta of 0.75. The stock's fifty day simple moving average is $29.37 and its 200-day simple moving average is $30.00.

Immunocore (NASDAQ:IMCR - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $125.13 million for the quarter, compared to the consensus estimate of $108.82 million. Immunocore had a negative net margin of 15.87% and a negative return on equity of 12.84%. The business's revenue for the quarter was up 33.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.49) EPS. As a group, sell-side analysts forecast that Immunocore Holdings plc will post -0.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other Immunocore news, Director Bros. Advisors Lp Baker bought 807,338 shares of the stock in a transaction dated Monday, March 17th. The shares were bought at an average cost 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 of the company's stock, valued at approximately $63,721,463.20. This trade represents a 60.40% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 10.40% of the company's stock.

Institutional Investors Weigh In On Immunocore

A number of hedge funds have recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. raised its stake in shares of Immunocore by 5.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 7,051,818 shares of the company's stock worth $209,228,000 after purchasing an additional 351,610 shares during the period. Primecap Management Co. CA raised its stake in shares of Immunocore by 0.4% during the 1st quarter. Primecap Management Co. CA now owns 2,678,650 shares of the company's stock worth $79,476,000 after purchasing an additional 10,100 shares during the period. Baker BROS. Advisors LP raised its stake in shares of Immunocore by 53.3% during the 1st quarter. Baker BROS. Advisors LP now owns 2,322,656 shares of the company's stock worth $68,913,000 after purchasing an additional 807,338 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Immunocore by 1.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,187,530 shares of the company's stock worth $64,533,000 after purchasing an additional 29,832 shares during the period. Finally, Tang Capital Management LLC raised its stake in shares of Immunocore by 40.7% during the 4th quarter. Tang Capital Management LLC now owns 1,555,600 shares of the company's stock worth $45,890,000 after purchasing an additional 450,000 shares during the period. 84.50% of the stock is currently owned by institutional investors.

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.