Immunocore Holdings plc (NASDAQ:IMCR) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Immunocore Holdings plc (NASDAQ:IMCR) have received a consensus recommendation of “Moderate Buy” from the thirteen research firms that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $79.82.

A number of research analysts recently commented on the stock. Barclays dropped their target price on shares of Immunocore from $92.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Oppenheimer reiterated an “outperform” rating and issued a $89.00 price objective (up previously from $87.00) on shares of Immunocore in a research note on Friday, August 9th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunocore in a report on Monday, September 9th. Guggenheim cut shares of Immunocore from a “buy” rating to a “neutral” rating in a research note on Monday, October 7th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Immunocore from $70.00 to $66.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th.

Immunocore Trading Down 3.1 %

IMCR opened at $33.31 on Tuesday. The business has a fifty day moving average price of $33.67 and a 200 day moving average price of $41.68. The company has a debt-to-equity ratio of 1.31, a current ratio of 5.17 and a quick ratio of 5.15. Immunocore has a 12 month low of $29.72 and a 12 month high of $76.98. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of -27.30 and a beta of 0.72.

Immunocore (NASDAQ:IMCR) last posted its earnings results on Thursday, August 8th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.25. Immunocore had a negative return on equity of 14.68% and a negative net margin of 19.16%. 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 prior year, the company posted ($0.37) earnings per share. Immunocore’s revenue for the quarter was up 26.2% compared to the same quarter last year. Sell-side analysts expect that Immunocore will post -1.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Immunocore

Hedge funds have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC increased its position in Immunocore by 40.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 5,075 shares of the company’s stock worth $158,000 after purchasing an additional 1,461 shares during the period. Connective Portfolio Management LLC acquired a new position in Immunocore during the third quarter worth $218,000. Frazier Life Sciences Management L.P. purchased a new position in Immunocore in the second quarter worth $3,686,000. The Manufacturers Life Insurance Company raised its position in 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 acquiring an additional 33,003 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in Immunocore by 124.4% in the second quarter. Millennium Management LLC now owns 600,954 shares of the company’s stock valued at $20,366,000 after acquiring an additional 333,167 shares during the period. Institutional investors and hedge funds 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.