Immunocore (NASDAQ:IMCR) Downgraded to Hold Rating by Wall Street Zen

Immunocore (NASDAQ:IMCR - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Friday.

IMCR has been the topic of a number of other research reports. Oppenheimer increased their price objective on Immunocore from $85.00 to $86.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $35.00 price target on shares of Immunocore in a report on Friday, March 7th. JPMorgan Chase & Co. cut their price objective on Immunocore from $54.00 to $50.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Deutsche Bank Aktiengesellschaft began coverage on shares of Immunocore in a research note on Tuesday, May 27th. They issued a "buy" rating and a $65.00 target price on the stock. Finally, Needham & Company LLC reiterated a "buy" rating and set a $71.00 target price on shares of Immunocore in a research report on Thursday, April 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $58.89.

Immunocore Price Performance

NASDAQ IMCR traded down $1.18 during trading hours on Friday, hitting $36.07. The company had a trading volume of 777,933 shares, compared to its average volume of 372,290. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.76 and a current ratio of 3.78. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of -37.97 and a beta of 0.83. Immunocore has a 52 week low of $23.15 and a 52 week high of $42.09. The firm has a 50 day simple moving average of $30.23 and a 200 day simple moving average of $30.17.

Immunocore (NASDAQ:IMCR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.10 EPS for the quarter, beating the consensus estimate 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 company had revenue of $125.13 million during the quarter, compared to analysts' expectations of $108.82 million. During the same quarter in the previous year, the company earned ($0.49) earnings per share. Immunocore's revenue for the quarter was up 33.6% on a year-over-year basis. Equities research analysts expect that Immunocore will post -0.94 earnings per share for the current year.

Insider Transactions at Immunocore

In related news, Director Bros. Advisors Lp Baker bought 807,338 shares of the stock in a transaction dated Monday, March 17th. The stock was 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 owns 2,144,060 shares in the company, valued at approximately $63,721,463.20. The trade was a 60.40% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 10.40% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. raised its holdings in Immunocore by 5.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 7,051,818 shares of the company's stock valued at $209,228,000 after buying an additional 351,610 shares during the last quarter. Primecap Management Co. CA raised its stake in shares of Immunocore by 0.4% during the first quarter. Primecap Management Co. CA now owns 2,678,650 shares of the company's stock valued at $79,476,000 after acquiring an additional 10,100 shares during the last quarter. Baker BROS. Advisors LP boosted its holdings in shares of Immunocore by 53.3% during the first quarter. Baker BROS. Advisors LP now owns 2,322,656 shares of the company's stock worth $68,913,000 after purchasing an additional 807,338 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Immunocore by 1.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,187,530 shares of the company's stock worth $64,533,000 after purchasing an additional 29,832 shares during the period. Finally, Tang Capital Management LLC grew its stake in shares of Immunocore by 40.7% in the fourth quarter. Tang Capital Management LLC now owns 1,555,600 shares of the company's stock worth $45,890,000 after purchasing an additional 450,000 shares during the last quarter. Institutional investors own 84.50% of the company's stock.

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.