Immunocore (NASDAQ:IMCR) Coverage Initiated by Analysts at Guggenheim

Key Points

• Guggenheim has reiterated a neutral rating for Immunocore's (IMCR) stock, amidst varied ratings from other analysts, which include six "buy" ratings and four "hold" ratings.
• Immunocore reported a revenue increase of 30.0% year-over-year, totaling $130.65 million in the last quarter, while beating earnings expectations slightly with a loss of ($0.20) per share.
• Insider David M. Berman sold 22,532 shares of Immunocore stock, with institutional investors owning approximately 84.50% of the company's stock.

Equities researchers at Guggenheim assumed coverage on shares of Immunocore (NASDAQ:IMCR - Get Free Report) in a research report issued on Thursday, MarketBeat Ratings reports. The firm set a "neutral" rating on the stock.

Other equities analysts have also issued research reports about the company. HC Wainwright reiterated a "buy" rating and set a $100.00 target price on shares of Immunocore in a research note on Monday, June 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on Immunocore in a report on Tuesday, May 27th. They set a "buy" rating and a $65.00 price objective on the stock. Jefferies Financial Group initiated coverage on Immunocore in a report on Monday, August 25th. They set a "buy" rating and a $48.00 target price on the stock. Wall Street Zen lowered Immunocore from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Zacks Research lowered Immunocore from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 4th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $56.89.

Immunocore Trading Down 2.5%

NASDAQ IMCR traded down $0.82 on Thursday, reaching $32.60. The company had a trading volume of 161,929 shares, compared to its average volume of 267,352. Immunocore has a 52 week low of $23.15 and a 52 week high of $39.33. The stock's 50 day moving average is $33.93 and its 200-day moving average is $31.92. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -81.50 and a beta of 0.77. 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 posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $122.96 million. During the same period last year, the company earned ($0.23) earnings per share. Immunocore's quarterly revenue was up 30.0% on a year-over-year basis. Equities analysts predict that Immunocore will post -0.94 earnings per share for the current year.

Insider Buying and Selling

In other Immunocore news, insider David M. Berman sold 22,532 shares of the firm's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $35.67, for a total value of $803,716.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 10.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Immunocore

Large investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. bought a new stake in shares of Immunocore during the fourth quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd increased its position 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 valued at $41,000 after acquiring an additional 1,268 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new stake in Immunocore in the 2nd quarter worth approximately $42,000. 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 period. Finally, State of Tennessee Department of Treasury bought a new stake in Immunocore in the 2nd quarter worth approximately $132,000. 84.50% of the stock is currently owned by hedge funds and other institutional investors.

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.