Immunocore (NASDAQ:IMCR) Stock Price Up 7.4% - Should You Buy?

Key Points

• Immunocore's stock price increased by 7.4% to $34.65, although trading volume was down 86% from its average.
• Several analysts have a consensus rating of "Moderate Buy" for Immunocore, with target prices ranging from $48.00 to $100.00.
• The company reported $130.65 million in revenue for the last quarter, beating estimates and marking a 30% increase year-over-year.

Immunocore Holdings PLC Sponsored ADR (NASDAQ:IMCR - Get Free Report)'s share price rose 7.4% during trading on Wednesday . The stock traded as high as $33.76 and last traded at $34.65. Approximately 47,941 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 331,529 shares. The stock had previously closed at $32.26.

Analyst Ratings Changes

Several research firms have recently issued reports on IMCR. HC Wainwright reaffirmed a "buy" rating and issued a $100.00 target price on shares of Immunocore in a report on Monday, June 2nd. Jefferies Financial Group began coverage on Immunocore in a report on Monday, August 25th. They issued a "buy" rating and a $48.00 target price for the company. Wall Street Zen lowered Immunocore from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Oppenheimer upped their target price on Immunocore from $85.00 to $86.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Immunocore in a report on Tuesday, May 27th. They issued a "buy" rating and a $65.00 target price for the company. Seven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Immunocore currently has a consensus rating of "Moderate Buy" and an average price target of $56.89.

Immunocore Stock Up 6.3%

The company has a 50 day moving average of $33.37 and a 200-day moving average of $31.42. The company has a debt-to-equity ratio of 1.01, a current ratio of 5.89 and a quick ratio of 5.86. The company has a market cap of $1.73 billion, a P/E ratio of -85.73 and a beta of 0.77.

Immunocore (NASDAQ:IMCR - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.20) earnings per share for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $122.96 million. During the same quarter last year, the business posted ($0.23) earnings per share. The company's revenue for the quarter was up 30.0% on a year-over-year basis. On average, equities analysts predict that Immunocore Holdings PLC Sponsored ADR will post -0.94 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. purchased a new stake in shares of Immunocore in the fourth quarter valued at about $25,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Immunocore by 4,696.3% during the second quarter. Caitong International Asset Management Co. Ltd now owns 1,295 shares of the company's stock worth $41,000 after purchasing an additional 1,268 shares during the period. Elevation Point Wealth Partners LLC acquired a new stake in shares of Immunocore in the second quarter worth $42,000. State of Tennessee Department of Treasury bought a new stake in Immunocore in the 2nd quarter valued at $132,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Immunocore in the 1st quarter worth about $225,000. 84.50% of the stock is currently owned by institutional investors and hedge funds.

About Immunocore

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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