Wall Street Zen Downgrades Immunocore (NASDAQ:IMCR) to Hold

Immunocore (NASDAQ:IMCR - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Friday.

A number of other equities research analysts have also recently commented on IMCR. Morgan Stanley restated an "equal weight" rating and set a $35.00 target price on shares of Immunocore in a research report on Friday, March 7th. JPMorgan Chase & Co. dropped their price objective on Immunocore from $54.00 to $50.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. HC Wainwright reaffirmed a "buy" rating and set a $100.00 target price on shares of Immunocore in a research note on Monday. 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 price objective on the stock. Finally, Mizuho lowered their price target on Immunocore from $38.00 to $33.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Immunocore presently has an average rating of "Moderate Buy" and an average target price of $58.89.

Immunocore Stock Performance

Shares of NASDAQ IMCR traded down $0.77 during midday trading on Friday, reaching $37.25. 549,586 shares of the stock were exchanged, compared to its average volume of 372,294. 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 has a market cap of $1.87 billion, a price-to-earnings ratio of -39.21 and a beta of 0.83. The firm has a 50-day simple moving average of $30.23 and a two-hundred day simple moving average of $30.20. Immunocore has a twelve month low of $23.15 and a twelve month high of $43.12.

Immunocore (NASDAQ:IMCR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.35) by $0.45. Immunocore had a negative net margin of 15.87% and a negative return on equity of 12.84%. The firm had revenue of $125.13 million for the quarter, compared to the consensus estimate of $108.82 million. During the same period in the prior year, the firm posted ($0.49) earnings per share. The firm's quarterly revenue was up 33.6% compared to the same quarter last year. As a group, analysts anticipate that Immunocore will post -0.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Bros. Advisors Lp Baker purchased 807,338 shares of the business's stock in a transaction dated Monday, March 17th. The stock was acquired at an average price of $29.72 per share, for a total transaction of $23,994,085.36. Following the acquisition, the director now directly owns 2,144,060 shares of the company's stock, valued at approximately $63,721,463.20. This represents a 60.40% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 10.40% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Checkpoint Capital L.P. purchased a new stake in Immunocore in the first quarter valued at $267,000. Banque Transatlantique SA acquired a new stake in shares of Immunocore during the 1st quarter worth about $278,000. Frazier Life Sciences Management L.P. increased its position in shares of Immunocore by 176.9% during the 1st quarter. Frazier Life Sciences Management L.P. now owns 301,170 shares of the company's stock worth $8,936,000 after purchasing an additional 192,408 shares during the last quarter. Baker BROS. Advisors LP raised its holdings in Immunocore by 53.3% in the 1st quarter. Baker BROS. Advisors LP now owns 2,322,656 shares of the company's stock valued at $68,913,000 after buying an additional 807,338 shares during the period. Finally, Royal Bank of Canada lifted its position in Immunocore by 45.1% in the first quarter. Royal Bank of Canada now owns 44,011 shares of the company's stock valued at $1,306,000 after buying an additional 13,689 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.

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