Immunocore Holdings plc (NASDAQ:IMCR) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Immunocore Holdings plc (NASDAQ:IMCR) have earned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $75.17.

A number of research analysts have weighed in on IMCR shares. Oppenheimer reaffirmed an “outperform” rating and issued a $89.00 price target (up previously from $87.00) on shares of Immunocore in a research note on Friday, August 9th. HC Wainwright reiterated a “buy” rating and issued a $100.00 price objective on shares of Immunocore in a report on Thursday. Needham & Company LLC lowered their price objective on shares of Immunocore from $81.00 to $78.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Guggenheim downgraded shares of Immunocore from a “buy” rating to a “neutral” rating in a report on Monday, October 7th. Finally, Morgan Stanley lowered their price objective on shares of Immunocore from $80.00 to $74.00 and set an “overweight” rating on the stock in a report on Friday, October 11th.

Immunocore Stock Up 0.9 %

Shares of NASDAQ IMCR opened at $32.80 on Tuesday. The firm’s 50-day moving average is $33.33 and its 200-day moving average is $41.03. Immunocore has a 1 year low of $29.72 and a 1 year high of $76.98. The firm has a market capitalization of $1.64 billion, a PE ratio of -26.89 and a beta of 0.72. The company has a current ratio of 5.17, a quick ratio of 5.15 and a debt-to-equity ratio of 1.31.

Immunocore (NASDAQ:IMCR) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.25. Immunocore had a negative net margin of 19.16% and a negative return on equity of 14.68%. The firm had revenue of $75.40 million for the quarter, compared to analyst estimates of $74.58 million. During the same quarter in the previous year, the firm posted ($0.37) earnings per share. The business’s revenue was up 26.2% on a year-over-year basis. Equities analysts expect that Immunocore will post -1.68 EPS for the current year.

Hedge Funds Weigh In On Immunocore

A number of hedge funds and other institutional investors have recently bought and sold shares of IMCR. China Universal Asset Management Co. Ltd. lifted its position in Immunocore by 69.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 7,433 shares of the company’s stock worth $231,000 after acquiring an additional 3,053 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Immunocore by 40.4% during the third quarter. Exchange Traded Concepts LLC now owns 5,075 shares of the company’s stock worth $158,000 after buying an additional 1,461 shares during the last quarter. Connective Portfolio Management LLC bought a new stake in shares of Immunocore in the third quarter worth $218,000. Frazier Life Sciences Management L.P. bought a new stake in shares of Immunocore in the second quarter worth $3,686,000. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Immunocore by 37.2% in the second quarter. The Manufacturers Life Insurance Company now owns 121,753 shares of the company’s stock worth $4,126,000 after purchasing an additional 33,003 shares during the last quarter. Institutional investors own 84.50% of the company’s stock.

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.