Immunocore (NASDAQ:IMCR) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Immunocore from hold to buy, adding a more bullish note to the stock’s analyst coverage. However, the broader consensus still remains Hold with a $56.71 price target.
• Analyst opinions are mixed: Zacks recently downgraded the stock to hold, while HC Wainwright and Cantor Fitzgerald maintained positive views. Overall, five analysts rate it Buy, four Hold, and one Sell.
• Immunocore’s latest earnings beat EPS expectations at $0.25 per share, but revenue of $106.68 million fell short of forecasts. The company also remains unprofitable, though revenue grew 13.6% year over year.

Immunocore (NASDAQ:IMCR - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Monday.

Other research analysts also recently issued research reports about the stock. Zacks Research downgraded shares of Immunocore from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. HC Wainwright reissued a "buy" rating and set a $100.00 price target on shares of Immunocore in a report on Monday, April 20th. Weiss Ratings restated a "sell (e+)" rating on shares of Immunocore in a research report on Tuesday, April 21st. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Immunocore in a research note on Monday, July 13th. Five 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, the stock presently has a consensus rating of "Hold" and a consensus price target of $56.71.

Immunocore Price Performance

IMCR stock opened at $34.96 on Monday. The business's 50-day moving average price is $30.12 and its 200-day moving average price is $31.26. The stock has a market cap of $1.78 billion, a P/E ratio of -63.56 and a beta of 0.73. The company has a quick ratio of 4.15, a current ratio of 4.18 and a debt-to-equity ratio of 1.00. Immunocore has a twelve month low of $27.56 and a twelve month high of $40.71.

Immunocore (NASDAQ:IMCR - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $0.25 EPS for the quarter, topping analysts' consensus estimates of ($0.26) by $0.51. Immunocore had a negative net margin of 6.68% and a negative return on equity of 7.07%. The company had revenue of $106.68 million for the quarter, compared to analysts' expectations of $145.20 million. During the same quarter last year, the business earned $0.10 EPS. The firm's revenue was up 13.6% compared to the same quarter last year. On average, equities research analysts forecast that Immunocore will post 0.06 EPS for the current year.

Hedge Funds Weigh In On Immunocore

Hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC increased its holdings in Immunocore by 334.3% in the 3rd quarter. Millennium Management LLC now owns 1,265,965 shares of the company's stock valued at $45,993,000 after acquiring an additional 974,463 shares during the last quarter. Vestal Point Capital LP bought a new position in shares of Immunocore during the 4th quarter valued at about $20,305,000. Janus Henderson Group PLC bought a new position in shares of Immunocore during the 4th quarter valued at about $15,734,000. Bellevue Group AG grew its position in shares of Immunocore by 14.5% during the third quarter. Bellevue Group AG now owns 2,796,803 shares of the company's stock valued at $101,608,000 after purchasing an additional 354,973 shares in the last quarter. Finally, Tang Capital Management LLC grew its position in shares of Immunocore by 14.0% during the fourth quarter. Tang Capital Management LLC now owns 2,628,538 shares of the company's stock valued at $91,237,000 after purchasing an additional 322,930 shares in the last quarter. Institutional investors own 84.50% of the company's stock.

About Immunocore

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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