SVB Leerink Begins Coverage on Immunocore (NASDAQ:IMCR)

SVB Leerink initiated coverage on shares of Immunocore (NASDAQ:IMCR) in a report released on Monday morning, Marketbeat Ratings reports. The firm issued an outperform rating and a $74.00 target price on the stock.

Several other analysts have also recently commented on IMCR. Needham & Company LLC reiterated a buy rating and issued a $81.00 price objective on shares of Immunocore in a research note on Thursday, April 11th. Oppenheimer restated an outperform rating and set a $87.00 target price (up from $85.00) on shares of Immunocore in a report on Thursday, February 29th. HC Wainwright restated a buy rating and set a $90.00 target price on shares of Immunocore in a report on Wednesday, March 6th. Mizuho raised their target price on shares of Immunocore from $86.00 to $90.00 and gave the company a buy rating in a report on Tuesday, March 5th. Finally, Guggenheim restated a buy rating and set a $92.00 target price on shares of Immunocore in a report on Tuesday, April 23rd. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $80.92.

Immunocore Stock Down 0.1 %

Shares of NASDAQ IMCR opened at $59.05 on Monday. The company has a quick ratio of 3.77, a current ratio of 3.80 and a debt-to-equity ratio of 0.13. Immunocore has a 52 week low of $42.21 and a 52 week high of $76.98. The firm has a 50-day moving average price of $61.68 and a 200 day moving average price of $60.94. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of -50.91 and a beta of 0.89.

Immunocore (NASDAQ:IMCR) last announced its quarterly earnings data 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 company had revenue of $70.16 million during the quarter, compared to analyst estimates of $53.25 million. During the same quarter last year, the business earned ($0.63) EPS. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. Equities research analysts anticipate that Immunocore will post -1.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Immunocore

A number of hedge funds and other institutional investors have recently modified their holdings of IMCR. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Immunocore during the third quarter worth about $650,000. TD Asset Management Inc grew its holdings in Immunocore by 109.9% in 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 during the period. Assetmark Inc. grew its holdings in Immunocore by 54.9% in the third quarter. Assetmark Inc. now owns 11,011 shares of the company’s stock valued at $571,000 after purchasing an additional 3,902 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Immunocore by 1.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 108,651 shares of the company’s stock valued at $5,639,000 after purchasing an additional 1,513 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its holdings in Immunocore by 103.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 836 shares of the company’s stock valued at $43,000 after purchasing an additional 426 shares during the period. 84.50% of the stock is currently owned by hedge funds and other institutional investors.

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.