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

TD Cowen upgraded shares of Immunocore (NASDAQ:IMCR) to a strong-buy rating in a research report released on Monday,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. Zacks Research upgraded shares of Immunocore from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Morgan Stanley set a $43.00 price target on shares of Immunocore in a research note on Friday, August 7th. JPMorgan Chase & Co. initiated coverage on shares of Immunocore in a report on Friday. They issued an “overweight” rating and a $50.00 price target for the company. Mizuho boosted their price objective on shares of Immunocore from $34.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Immunocore in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $56.38.

Immunocore Trading Down 0.7%

Shares of IMCR opened at $36.61 on Monday. The company has a 50-day moving average of $33.13 and a 200 day moving average of $31.45. The company has a debt-to-equity ratio of 0.94, a current ratio of 4.47 and a quick ratio of 4.44. Immunocore has a 1-year low of $27.56 and a 1-year high of $40.71. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of -98.94 and a beta of 0.74.

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

Hedge Funds Weigh In On Immunocore

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Primecap Management Co. CA raised its holdings in Immunocore by 5.5% in the 4th quarter. Primecap Management Co. CA now owns 3,961,880 shares of the company’s stock valued at $137,517,000 after acquiring an additional 207,320 shares during the last quarter. Bellevue Group AG grew its holdings 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 purchasing an additional 354,973 shares during the period. Tang Capital Management LLC increased its position in shares of Immunocore by 14.0% during the fourth quarter. Tang Capital Management LLC now owns 2,628,538 shares of the company’s stock valued at $91,237,000 after acquiring an additional 322,930 shares during the last quarter. Millennium Management LLC lifted its stake in Immunocore by 334.3% during the third quarter. Millennium Management LLC now owns 1,265,965 shares of the company’s stock worth $45,993,000 after purchasing an additional 974,463 shares in the last quarter. Finally, Armistice Capital LLC lifted its stake in Immunocore by 33.3% during the 4th quarter. Armistice Capital LLC now owns 1,098,000 shares of the company’s stock worth $38,112,000 after acquiring an additional 274,000 shares in the last quarter. 84.50% of the stock is owned by hedge funds and other institutional investors.

About Immunocore

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.