Immunocore (NASDAQ:IMCR) Earns Buy Rating from Guggenheim

Guggenheim reiterated their buy rating on shares of Immunocore (NASDAQ:IMCR) in a research report released on Tuesday, Benzinga reports. Guggenheim currently has a $92.00 price objective on the stock.

Other equities analysts have also issued research reports about the company. Oppenheimer reissued an outperform rating and issued a $87.00 target price (up previously from $85.00) on shares of Immunocore in a research report on Thursday, February 29th. Mizuho boosted their price objective on shares of Immunocore from $86.00 to $90.00 and gave the company a buy rating in a report on Tuesday, March 5th. HC Wainwright restated a buy rating and issued a $90.00 target price on shares of Immunocore in a report on Wednesday, March 6th. JPMorgan Chase & Co. boosted their target price on shares of Immunocore from $60.00 to $70.00 and gave the company an overweight rating in a research note on Wednesday, March 20th. Finally, Canaccord Genuity Group raised their price target on Immunocore from $60.00 to $63.00 and gave the stock a hold rating in a research note on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $81.50.

Immunocore Stock Performance

Shares of NASDAQ IMCR opened at $58.00 on Tuesday. The company has a current ratio of 3.80, a quick ratio of 3.77 and a debt-to-equity ratio of 0.13. The firm’s 50 day moving average price is $62.57 and its 200-day moving average price is $60.58. Immunocore has a 52-week low of $42.21 and a 52-week high of $76.98.

Immunocore (NASDAQ:IMCR) last issued its earnings results on Wednesday, February 28th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.12). Immunocore had a negative net margin of 22.48% and a negative return on equity of 15.78%. The business had revenue of $70.16 million for the quarter, compared to analysts’ expectations of $53.25 million. During the same quarter in the prior year, the business posted ($0.63) earnings per share. The business’s revenue for the quarter was up 22.4% on a year-over-year basis. On average, research analysts forecast that Immunocore will post -1.54 earnings per share for the current year.

Hedge Funds Weigh In On Immunocore

Several institutional investors and hedge funds have recently bought and sold shares of IMCR. IFP Advisors Inc raised its stake in shares of Immunocore by 32.9% in the third quarter. IFP Advisors Inc now owns 2,397 shares of the company’s stock worth $124,000 after buying an additional 594 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in Immunocore during the 3rd quarter worth approximately $650,000. TD Asset Management Inc lifted its holdings in Immunocore by 109.9% during the third quarter. TD Asset Management Inc now owns 301,920 shares of the company’s stock valued at $15,670,000 after purchasing an additional 158,086 shares in the last quarter. Assetmark Inc. boosted its position in shares of Immunocore by 54.9% in the third quarter. Assetmark Inc. now owns 11,011 shares of the company’s stock worth $571,000 after purchasing an additional 3,902 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Immunocore by 1.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 108,651 shares of the company’s stock worth $5,639,000 after purchasing an additional 1,513 shares in the last quarter. 84.50% of the stock is currently 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.