UBS Group Begins Coverage on Immunocore (NASDAQ:IMCR)

UBS Group began coverage on shares of Immunocore (NASDAQ:IMCR) in a report published on Thursday morning, Marketbeat reports. The brokerage issued a sell rating and a $24.00 target price on the stock.

A number of other brokerages have also issued reports on IMCR. Guggenheim lowered Immunocore from a “buy” rating to a “neutral” rating in a research note on Monday, October 7th. Barclays cut their target price on Immunocore from $92.00 to $66.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunocore in a report on Monday, September 9th. Needham & Company LLC reduced their price objective on Immunocore from $81.00 to $78.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Finally, JPMorgan Chase & Co. decreased their price target 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.17.

Immunocore Stock Up 0.9 %

Immunocore stock opened at $32.80 on Thursday. Immunocore has a one year low of $29.72 and a one year high of $76.98. The stock has a market cap of $1.64 billion, a PE ratio of -26.89 and a beta of 0.72. The company has a debt-to-equity ratio of 1.31, a quick ratio of 5.15 and a current ratio of 5.17. The stock has a fifty day moving average of $33.33 and a 200 day moving average of $41.03.

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

Hedge Funds Weigh In On Immunocore

A number of large investors have recently added to or reduced their stakes in IMCR. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Immunocore by 69.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,433 shares of the company’s stock valued at $231,000 after buying an additional 3,053 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in Immunocore by 40.4% in the third quarter. Exchange Traded Concepts LLC now owns 5,075 shares of the company’s stock valued at $158,000 after acquiring an additional 1,461 shares in the last quarter. Connective Portfolio Management LLC acquired a new stake in Immunocore in the third quarter valued at approximately $218,000. Frazier Life Sciences Management L.P. purchased a new position in Immunocore in the second quarter worth $3,686,000. Finally, The Manufacturers Life Insurance Company increased its position in shares of Immunocore by 37.2% during 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 in the last quarter. 84.50% of the stock is currently owned by institutional investors.

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.