Morgan Stanley Lowers Immunocore (NASDAQ:IMCR) Price Target to $74.00

Immunocore (NASDAQ:IMCR) had its price target cut by equities researchers at Morgan Stanley from $80.00 to $74.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 138.02% from the stock’s previous close.

Several other equities research analysts have also recently commented on IMCR. HC Wainwright reaffirmed a “buy” rating and set a $100.00 price objective on shares of Immunocore in a research report on Tuesday, September 17th. Oppenheimer reaffirmed an “outperform” rating and set a $89.00 price objective (up from $87.00) on shares of Immunocore in a research report on Friday, August 9th. Cantor Fitzgerald reissued an “overweight” rating on shares of Immunocore in a report on Monday, September 9th. Guggenheim downgraded Immunocore from a “buy” rating to a “neutral” rating in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. lowered their target price on Immunocore from $70.00 to $66.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $79.82.

Immunocore Trading Up 0.6 %

NASDAQ IMCR opened at $31.09 on Friday. Immunocore has a 12 month low of $29.72 and a 12 month high of $76.98. The stock has a market cap of $1.56 billion, a P/E ratio of -28.79 and a beta of 0.72. The stock’s fifty day moving average price is $34.18 and its 200-day moving average price is $43.12. 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 released its quarterly earnings data 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 company had revenue of $75.40 million for the quarter, compared to analysts’ expectations of $74.58 million. During the same period last year, the firm posted ($0.37) earnings per share. Immunocore’s revenue was up 26.2% compared to the same quarter last year. As a group, equities analysts forecast that Immunocore will post -1.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC raised its stake in shares of Immunocore by 1,867.3% in the second quarter. SG Americas Securities LLC now owns 160,358 shares of the company’s stock worth $5,435,000 after buying an additional 152,207 shares during the period. Wellington Management Group LLP raised its stake in shares of Immunocore by 10.2% in the fourth quarter. Wellington Management Group LLP now owns 4,312,611 shares of the company’s stock worth $294,638,000 after buying an additional 399,201 shares during the period. Candriam S.C.A. raised its stake in Immunocore by 65.8% during the 2nd quarter. Candriam S.C.A. now owns 313,423 shares of the company’s stock valued at $10,621,000 after purchasing an additional 124,417 shares during the period. Frazier Life Sciences Management L.P. bought a new stake in Immunocore during the 2nd quarter valued at approximately $3,686,000. Finally, Janus Henderson Group PLC raised its stake in Immunocore by 45.8% during the 1st quarter. Janus Henderson Group PLC now owns 257,080 shares of the company’s stock valued at $16,711,000 after purchasing an additional 80,748 shares during the period. 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.