Weiss Ratings Reiterates "Sell (E+)" Rating for Immunocore (NASDAQ:IMCR)

Key Points

• Weiss Ratings has confirmed a "Sell (E+)" rating for Immunocore (NASDAQ: IMCR), indicating ongoing concerns about the stock's performance.
• Immunocore's latest quarterly earnings exceeded analysts' expectations, with a revenue boost of 30% compared to last year, yet the company reported a negative net margin.
• The average target price for Immunocore's stock is $56.89, with ratings varying as six analysts suggest a Buy, while four recommend a Hold and two suggest a Sell.

Immunocore (NASDAQ:IMCR - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by equities researchers at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

A number of other analysts have also issued reports on IMCR. Wall Street Zen lowered shares of Immunocore from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Jefferies Financial Group initiated coverage on shares of Immunocore in a research note on Monday, August 25th. They set a "buy" rating and a $48.00 price target on the stock. Zacks Research lowered shares of Immunocore from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 4th. Finally, Guggenheim initiated coverage on shares of Immunocore in a research note on Thursday, September 18th. They set a "neutral" rating on the stock. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $56.89.

Immunocore Trading Down 0.7%

NASDAQ IMCR opened at $33.99 on Wednesday. The firm's 50-day moving average is $33.68 and its two-hundred day moving average is $32.36. Immunocore has a 12 month low of $23.15 and a 12 month high of $39.33. The company has a debt-to-equity ratio of 1.01, a current ratio of 5.89 and a quick ratio of 5.86. The stock has a market capitalization of $1.71 billion, a P/E ratio of -84.98 and a beta of 0.79.

Immunocore (NASDAQ:IMCR - Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $130.65 million for the quarter, compared to analyst estimates of $122.96 million. Immunocore had a negative net margin of 5.70% and a negative return on equity of 5.40%. The business's revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.23) earnings per share. On average, sell-side analysts anticipate 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 stock in a transaction that occurred on 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 SEC, which is available through this link. 10.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Immunocore

Several large investors have recently modified their holdings of IMCR. GAMMA Investing LLC boosted its holdings in shares of Immunocore by 51.6% in the third quarter. GAMMA Investing LLC now owns 914 shares of the company's stock valued at $33,000 after acquiring an additional 311 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Immunocore by 4,696.3% in 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 during the period. Elevation Point Wealth Partners LLC acquired a new stake in shares of Immunocore in the second quarter valued at approximately $42,000. Osaic Holdings Inc. boosted its holdings in shares of Immunocore by 117.4% in the second quarter. Osaic Holdings Inc. now owns 3,148 shares of the company's stock valued at $97,000 after acquiring an additional 1,700 shares during the period. Finally, State of Tennessee Department of Treasury acquired a new stake in shares of Immunocore in the second quarter valued at approximately $132,000. 84.50% of the stock is 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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