Immunocore (NASDAQ:IMCR) Coverage Initiated at Jefferies Financial Group

Key Points

• Jefferies Financial Group has initiated coverage on Immunocore (NASDAQ: IMCR), setting a "buy" rating and a price target of $48.00, indicating a potential upside of 44.97% from the stock's last close.
• Immunocore reported a quarterly revenue of $130.65 million, surpassing analysts' expectations, with a year-over-year growth of 30% and earnings per share of ($0.20).
• The stock has seen activity from institutional investors, with Bellevue Group AG significantly increasing its stake by 99.9%, reflecting growing institutional interest in Immunocore.

Jefferies Financial Group assumed coverage on shares of Immunocore (NASDAQ:IMCR - Free Report) in a research note published on Monday. The firm issued a buy rating and a $48.00 price target on the stock.

Other equities analysts have also recently issued reports about the company. Oppenheimer raised their price objective on Immunocore from $85.00 to $86.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Wall Street Zen downgraded shares of Immunocore from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Immunocore in a report on Tuesday, May 27th. They issued a "buy" rating and a $65.00 price target for the company. Finally, HC Wainwright reiterated a "buy" rating and set a $100.00 price objective on shares of Immunocore in a research note on Monday, June 2nd. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $56.89.

Immunocore Stock Down 0.1%

Shares of Immunocore stock traded down $0.02 on Monday, hitting $32.22. 210,634 shares of the company's stock traded hands, compared to its average volume of 313,571. The company has a quick ratio of 5.86, a current ratio of 5.89 and a debt-to-equity ratio of 1.01. The firm's 50-day moving average is $33.34 and its 200 day moving average is $31.37. The stock has a market cap of $1.62 billion, a P/E ratio of -80.55 and a beta of 0.77. Immunocore has a 52-week low of $23.15 and a 52-week high of $39.33.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IMCR. Geode Capital Management LLC increased its stake in shares of Immunocore by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 35,492 shares of the company's stock valued at $1,047,000 after acquiring an additional 420 shares during the period. Barclays PLC boosted its stake in Immunocore by 2,044.0% during the 4th quarter. Barclays PLC now owns 20,625 shares of the company's stock valued at $608,000 after purchasing an additional 19,663 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Immunocore by 1.4% during the 4th 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. Virtus ETF Advisers LLC raised its stake in shares of Immunocore by 39.0% in the 4th quarter. Virtus ETF Advisers LLC now owns 11,536 shares of the company's stock worth $340,000 after buying an additional 3,238 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Immunocore by 6.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 114,151 shares of the company's stock valued at $3,367,000 after buying an additional 6,760 shares during the period. 84.50% of the stock is 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.