Immunocore (NASDAQ:IMCR) Downgraded by Zacks Research to Hold

Zacks Research lowered shares of Immunocore (NASDAQ:IMCR) from a strong-buy rating to a hold rating in a report issued on Tuesday morning,Zacks.com reports.

A number of other analysts have also issued reports on IMCR. Wall Street Zen raised Immunocore from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Immunocore in a research note on Tuesday, April 21st. Jefferies Financial Group lowered Immunocore from a “buy” rating to a “hold” rating and cut their target price for the stock from $48.00 to $33.00 in a research report on Monday, March 16th. Finally, HC Wainwright restated a “buy” rating and set a $100.00 price target on shares of Immunocore in a research note on Monday, April 20th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Immunocore has a consensus rating of “Hold” and a consensus target price of $56.71.

Immunocore Stock Up 1.1%

Shares of NASDAQ:IMCR opened at $33.78 on Tuesday. The company has a market capitalization of $1.72 billion, a P/E ratio of -61.42 and a beta of 0.73. The stock’s fifty day simple moving average is $29.50 and its 200-day simple moving average is $31.39. Immunocore has a 52-week low of $27.56 and a 52-week high of $40.71. The company has a quick ratio of 4.15, a current ratio of 4.18 and a debt-to-equity ratio of 1.00.

Immunocore (NASDAQ:IMCR) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.51. The business had revenue of $106.68 million for the quarter, compared to the consensus estimate of $145.20 million. Immunocore had a negative net margin of 6.68% and a negative return on equity of 7.07%. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.10 earnings per share. As a group, equities research analysts forecast that Immunocore will post 0.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Immunocore

A number of institutional investors have recently added to or reduced their stakes in IMCR. Leonteq Securities AG purchased a new stake in shares of Immunocore during the fourth quarter worth about $30,000. Harbour Investments Inc. grew its stake in Immunocore by 60.2% during the 4th quarter. Harbour Investments Inc. now owns 1,033 shares of the company’s stock valued at $36,000 after purchasing an additional 388 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new stake in Immunocore during the 4th quarter worth approximately $47,000. Arax Advisory Partners increased its holdings in Immunocore by 302.9% during the 4th quarter. Arax Advisory Partners now owns 1,386 shares of the company’s stock worth $48,000 after purchasing an additional 1,042 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Immunocore by 202.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock valued at $61,000 after purchasing an additional 1,286 shares in the last quarter. Institutional investors and hedge funds own 84.50% of the company’s stock.

Immunocore Company Profile

Immunocore plc is a clinical‐stage biotechnology company focused on the development of novel immunotherapies that harness the body’s own T‐cell response to treat cancer and infectious diseases. The company’s proprietary ImmTAC (immune mobilising monoclonal T‐cell receptors against cancer) platform utilizes engineered, soluble T‐cell receptor (TCR) molecules designed to recognise intracellular peptide–HLA complexes. By redirecting and activating T cells against disease‐associated targets, Immunocore aims to address malignancies and persistent viral infections with high unmet medical need.

The company’s most advanced candidate, tebentafusp, is a bispecific ImmTAC molecule that targets gp100, a melanoma‐associated antigen, and has received regulatory approval for the treatment of metastatic uveal melanoma.