Immunocore (NASDAQ:IMCR) Upgraded to “Strong-Buy” at TD Cowen

Immunocore (NASDAQ:IMCR) was upgraded by stock analysts at TD Cowen to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Several other equities research analysts also recently weighed in on the stock. Zacks Research raised shares of Immunocore from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Cantor Fitzgerald reissued an “overweight” rating on shares of Immunocore in a research report on Monday, July 13th. JPMorgan Chase & Co. initiated coverage on shares of Immunocore in a research note on Friday. They issued an “overweight” rating and a $50.00 price target for the company. Wall Street Zen lowered Immunocore from a “buy” rating to a “hold” rating in a research report on Tuesday, July 28th. Finally, Morgan Stanley set a $43.00 price objective on Immunocore in a research note on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Immunocore has an average rating of “Moderate Buy” and a consensus target price of $56.38.

Immunocore Stock Down 0.7%

Shares of NASDAQ:IMCR opened at $36.61 on Monday. The company has a debt-to-equity ratio of 0.94, a current ratio of 4.47 and a quick ratio of 4.44. The firm has a market capitalization of $1.89 billion, a PE ratio of -98.94 and a beta of 0.74. The firm’s 50-day moving average is $33.13 and its two-hundred day moving average is $31.45. Immunocore has a 1 year low of $27.56 and a 1 year high of $40.71.

Immunocore (NASDAQ:IMCR) last issued its quarterly earnings results on Friday, August 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). Immunocore had a negative return on equity of 4.54% and a negative net margin of 4.20%. Analysts predict that Immunocore will post 0.13 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC increased its holdings in Immunocore by 334.3% in the third quarter. Millennium Management LLC now owns 1,265,965 shares of the company’s stock valued at $45,993,000 after buying an additional 974,463 shares during the last quarter. Vestal Point Capital LP purchased a new stake in Immunocore during the 4th quarter worth about $20,305,000. Braidwell LP purchased a new stake in Immunocore during the 2nd quarter worth about $16,552,000. Janus Henderson Group PLC acquired a new position in shares of Immunocore during the 4th quarter worth about $15,734,000. Finally, Bellevue Group AG boosted its position in shares of Immunocore by 14.5% during the 3rd quarter. Bellevue Group AG now owns 2,796,803 shares of the company’s stock worth $101,608,000 after acquiring an additional 354,973 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.