Immunocore (NASDAQ:IMCR) Stock Price Up 7.4% - What's Next?

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) traded up 7.4% during mid-day trading on Wednesday . The stock traded as high as $33.76 and last traded at $34.65. 47,941 shares traded hands during trading, a decline of 86% from the average session volume of 331,529 shares. The stock had previously closed at $32.26.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Jefferies Financial Group assumed coverage on Immunocore in a research note on Monday, August 25th. They set a "buy" rating and a $48.00 price objective on the stock. Wall Street Zen cut Immunocore from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Zacks Research cut Immunocore from a "strong-buy" rating to a "hold" rating in a research note on Thursday. HC Wainwright restated a "buy" rating and set a $100.00 price objective on shares of Immunocore in a research note on Monday, June 2nd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Immunocore in a research note on Tuesday, May 27th. They set a "buy" rating and a $65.00 price objective on the stock. Seven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Immunocore presently has an average rating of "Moderate Buy" and a consensus target price of $56.89.

Immunocore Trading Down 1.5%

The stock has a market cap of $1.85 billion, a price-to-earnings ratio of -91.60 and a beta of 0.77. The firm's 50 day moving average is $33.62 and its two-hundred day moving average is $31.57. The company has a quick ratio of 5.86, a current ratio of 5.89 and a debt-to-equity ratio of 1.01.

Immunocore (NASDAQ:IMCR - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.01. Immunocore had a negative net margin of 5.70% and a negative return on equity of 5.40%. The firm had revenue of $130.65 million for the quarter, compared to analyst estimates of $122.96 million. During the same quarter in the prior year, the business earned ($0.23) earnings per share. Immunocore's quarterly revenue was up 30.0% on a year-over-year basis. Equities analysts anticipate that Immunocore Holdings PLC Sponsored ADR will post -0.94 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Osaic Holdings Inc. grew its position in Immunocore by 117.4% in the 2nd quarter. Osaic Holdings Inc. now owns 3,148 shares of the company's stock worth $97,000 after purchasing an additional 1,700 shares during the last quarter. Orion Porfolio Solutions LLC lifted its holdings in Immunocore by 4.5% in the second quarter. Orion Porfolio Solutions LLC now owns 23,965 shares of the company's stock worth $752,000 after purchasing an additional 1,031 shares during the period. State of Tennessee Department of Treasury bought a new position in Immunocore in the 2nd quarter valued at about $132,000. Oxford Asset Management LLP acquired a new position in Immunocore during the 2nd quarter valued at about $661,000. Finally, Lazard Asset Management LLC acquired a new position in Immunocore during the 2nd quarter valued at about $2,789,000. Institutional investors own 84.50% of the company's stock.

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.