Jefferies Financial Group Initiates Coverage on Immunocore (NASDAQ:IMCR)

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.

Analysts at Jefferies Financial Group began coverage on shares of Immunocore (NASDAQ:IMCR - Get Free Report) in a report issued on Monday. The brokerage set a "buy" rating and a $48.00 price target on the stock. Jefferies Financial Group's price objective suggests a potential upside of 44.97% from the stock's previous close.

Several other research firms have also recently weighed in on IMCR. Oppenheimer boosted their price objective on shares of Immunocore from $85.00 to $86.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Wall Street Zen cut shares of Immunocore from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Immunocore in a report on Tuesday, May 27th. They set a "buy" rating and a $65.00 target price for the company. Finally, HC Wainwright reaffirmed a "buy" rating and set a $100.00 target price on shares of Immunocore in a report on Monday, June 2nd. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Immunocore currently has an average rating of "Moderate Buy" and an average target price of $56.89.

Immunocore Stock Performance

Shares of IMCR traded up $0.18 during mid-day trading on Monday, hitting $33.11. 4,007 shares of the company traded hands, compared to its average volume of 335,802. The company has a debt-to-equity ratio of 1.01, a quick ratio of 5.86 and a current ratio of 5.89. The stock has a 50-day moving average price of $33.30 and a two-hundred day moving average price of $31.29. Immunocore has a 1 year low of $23.15 and a 1 year high of $39.33. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of -82.78 and a beta of 0.77.

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, beating 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 during the quarter, compared to analysts' expectations of $122.96 million. During the same period in the previous year, the company earned ($0.23) earnings per share. The firm's quarterly revenue was up 30.0% on a year-over-year basis. Equities analysts anticipate that Immunocore will post -0.94 earnings per share for the current year.

Institutional Trading of Immunocore

A number of hedge funds and other institutional investors have recently modified their holdings of IMCR. Bellevue Group AG increased its stake in shares of Immunocore by 99.9% in the second quarter. Bellevue Group AG now owns 2,441,830 shares of the company's stock worth $76,625,000 after purchasing an additional 1,220,036 shares in the last quarter. Primecap Management Co. CA lifted its position in Immunocore by 40.8% during the second quarter. Primecap Management Co. CA now owns 3,771,474 shares of the company's stock valued at $118,349,000 after purchasing an additional 1,092,824 shares during the last quarter. BVF Inc. IL bought a new position in Immunocore during the second quarter valued at $32,142,000. Baker BROS. Advisors LP lifted its position in Immunocore by 53.3% during the first quarter. Baker BROS. Advisors LP now owns 2,322,656 shares of the company's stock valued at $68,913,000 after purchasing an additional 807,338 shares during the last quarter. Finally, Deep Track Capital LP bought a new position in Immunocore during the fourth quarter valued at $15,322,000. 84.50% of the stock is owned by hedge funds and other institutional investors.

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.

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