Immunocore (NASDAQ:IMCR) Stock Price Up 6.3% - What's Next?

Immunocore Holdings plc (NASDAQ:IMCR - Get Free Report)'s stock price rose 6.3% during trading on Thursday . The stock traded as high as $33.20 and last traded at $33.46. Approximately 347,223 shares changed hands during mid-day trading, a decline of 11% from the average daily volume of 390,342 shares. The stock had previously closed at $31.49.

Analysts Set New Price Targets

A number of analysts have weighed in on IMCR shares. JPMorgan Chase & Co. cut their price target on Immunocore from $54.00 to $50.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Morgan Stanley reiterated an "equal weight" rating and issued a $35.00 price objective on shares of Immunocore in a report on Friday, March 7th. Deutsche Bank Aktiengesellschaft started coverage on Immunocore in a research note on Tuesday, May 27th. They set a "buy" rating and a $65.00 target price for the company. HC Wainwright restated a "buy" rating and issued a $100.00 price objective on shares of Immunocore in a research note on Monday. Finally, Oppenheimer lifted their target price on shares of Immunocore from $85.00 to $86.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Immunocore currently has a consensus rating of "Moderate Buy" and a consensus price target of $58.89.

Immunocore Stock Up 5.6%

The company has a quick ratio of 3.76, a current ratio of 3.78 and a debt-to-equity ratio of 1.03. The firm's fifty day moving average is $29.37 and its 200-day moving average is $29.95. The stock has a market capitalization of $1.94 billion, a PE ratio of -40.68 and a beta of 0.75.

Immunocore (NASDAQ:IMCR - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.10 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 firm's revenue was up 33.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.49) earnings per share. On average, equities research analysts predict that Immunocore Holdings plc will post -0.94 earnings per share for the current year.

Insider Transactions at Immunocore

In other Immunocore news, Director Bros. Advisors Lp Baker purchased 807,338 shares of Immunocore stock in a transaction on Monday, March 17th. The shares were bought at an average price of $29.72 per share, with a total value of $23,994,085.36. Following the purchase, the director now directly owns 2,144,060 shares in the company, valued at $63,721,463.20. This trade represents a 60.40% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 10.40% of the company's stock.

Hedge Funds Weigh In On Immunocore

Several institutional investors have recently added to or reduced their stakes in the business. Barclays PLC boosted its stake in Immunocore by 2,044.0% in the 4th quarter. Barclays PLC now owns 20,625 shares of the company's stock worth $608,000 after buying an additional 19,663 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Immunocore by 17.3% during the 4th quarter. Legal & General Group Plc now owns 136,875 shares of the company's stock worth $4,038,000 after acquiring an additional 20,163 shares during the period. Primecap Management Co. CA boosted its position in shares of Immunocore by 8.0% in the fourth quarter. Primecap Management Co. CA now owns 2,668,550 shares of the company's stock worth $78,722,000 after acquiring an additional 196,530 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Immunocore by 1.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,187,530 shares of the company's stock valued at $64,533,000 after purchasing an additional 29,832 shares during the period. Finally, BIT Capital GmbH increased its position in Immunocore by 182.7% during the fourth quarter. BIT Capital GmbH now owns 67,840 shares of the company's stock worth $2,001,000 after purchasing an additional 43,840 shares during the last quarter. 84.50% of the stock is currently owned by institutional investors and hedge funds.

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.