Immunocore (NASDAQ:IMCR) Given “Equal Weight” Rating at Morgan Stanley

Morgan Stanley reiterated their equal weight rating on shares of Immunocore (NASDAQ:IMCR) in a research report report published on Friday, Marketbeat.com reports. Morgan Stanley currently has a $35.00 price objective on the stock, down from their prior price objective of $74.00.

IMCR has been the subject of a number of other research reports. Needham & Company LLC dropped their target price on Immunocore from $78.00 to $71.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Guggenheim lowered shares of Immunocore from a “buy” rating to a “neutral” rating in a report on Monday, October 7th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunocore in a research note on Monday, September 9th. HC Wainwright reiterated a “buy” rating and issued a $100.00 target price on shares of Immunocore in a research report on Thursday, October 24th. Finally, Mizuho lowered shares of Immunocore from an “outperform” rating to a “neutral” rating and cut their price target for the company from $72.00 to $38.00 in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $65.64.

Immunocore Price Performance

Shares of NASDAQ:IMCR opened at $28.91 on Friday. Immunocore has a one year low of $28.27 and a one year high of $76.98. The company has a debt-to-equity ratio of 1.03, a current ratio of 3.78 and a quick ratio of 3.76. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of -30.43 and a beta of 0.73. The company’s fifty day moving average price is $32.28 and its 200-day moving average price is $35.36.

Immunocore (NASDAQ:IMCR) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.50. Immunocore had a negative return on equity of 12.84% and a negative net margin of 15.87%. The business had revenue of $80.25 million for the quarter, compared to the consensus estimate of $78.94 million. During the same quarter last year, the business posted ($0.59) earnings per share. The company’s revenue for the quarter was up 23.7% on a year-over-year basis. On average, equities research analysts anticipate that Immunocore will post -0.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Immunocore

Several institutional investors and hedge funds have recently bought and sold shares of IMCR. Wellington Management Group LLP raised its holdings in shares of Immunocore by 10.5% during the third quarter. Wellington Management Group LLP now owns 7,048,833 shares of the company’s stock valued at $219,430,000 after acquiring an additional 668,382 shares in the last quarter. FMR LLC increased its position in Immunocore by 0.5% during the 3rd quarter. FMR LLC now owns 4,836,040 shares of the company’s stock valued at $150,546,000 after purchasing an additional 23,436 shares during the period. Primecap Management Co. CA raised its holdings in Immunocore by 26.7% in the 3rd quarter. Primecap Management Co. CA now owns 2,472,020 shares of the company’s stock worth $76,954,000 after purchasing an additional 520,950 shares in the last quarter. Bellevue Group AG lifted its position in shares of Immunocore by 4.4% in the 3rd quarter. Bellevue Group AG now owns 1,205,464 shares of the company’s stock worth $37,526,000 after purchasing an additional 50,810 shares during the period. Finally, Armistice Capital LLC lifted its position in shares of Immunocore by 495.1% in the 2nd quarter. Armistice Capital LLC now owns 976,000 shares of the company’s stock worth $33,077,000 after purchasing an additional 812,000 shares during the period. Hedge funds and other institutional investors own 84.50% of the company’s stock.

Immunocore Company Profile

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.