Immunocore's (IMCR) "Equal Weight" Rating Reiterated at Morgan Stanley

Morgan Stanley restated their equal weight rating on shares of Immunocore (NASDAQ:IMCR - Free Report) in a research note published on Friday morning, MarketBeat Ratings reports. The firm currently has a $35.00 target price on the stock, down from their previous target price of $74.00.

Several other equities research analysts have also issued reports on the stock. Mizuho lowered shares of Immunocore from an "outperform" rating to a "neutral" rating and reduced their target price for the stock from $72.00 to $38.00 in a report on Monday, November 11th. Guggenheim downgraded shares of Immunocore from a "buy" rating to a "neutral" rating in a report on Monday, October 7th. Cantor Fitzgerald reissued an "overweight" rating on shares of Immunocore in a report on Monday, September 9th. HC Wainwright reaffirmed a "buy" rating and issued a $100.00 price objective on shares of Immunocore in a research note on Thursday, October 24th. Finally, Needham & Company LLC decreased their target price on Immunocore from $78.00 to $71.00 and set a "buy" rating on the stock in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $65.64.

Immunocore Stock Performance

IMCR stock traded down $1.40 during midday trading on Friday, reaching $28.91. 649,391 shares of the company's stock traded hands, compared to its average volume of 498,065. The stock's 50-day moving average is $32.32 and its 200 day moving average is $35.48. The stock has a market cap of $1.45 billion, a P/E ratio of -30.32 and a beta of 0.73. Immunocore has a 52-week low of $28.27 and a 52-week high of $76.98. The company has a current ratio of 3.78, a quick ratio of 3.76 and a debt-to-equity ratio of 1.03.

Immunocore (NASDAQ:IMCR - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $0.17 EPS for the quarter, topping analysts' consensus estimates of ($0.33) by $0.50. The company had revenue of $80.25 million for the quarter, compared to analysts' expectations of $78.94 million. Immunocore had a negative return on equity of 12.84% and a negative net margin of 15.87%. Immunocore's revenue for the quarter was up 23.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.59) EPS. As a group, analysts anticipate that Immunocore will post -0.94 EPS for the current year.

Institutional Trading of Immunocore

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Primecap Management Co. CA lifted its holdings in shares of Immunocore by 3,841.6% in the 2nd quarter. Primecap Management Co. CA now owns 1,951,070 shares of the company's stock worth $66,122,000 after acquiring an additional 1,901,570 shares during the last quarter. Armistice Capital LLC increased its stake in shares of Immunocore by 495.1% during the second quarter. Armistice Capital LLC now owns 976,000 shares of the company's stock valued at $33,077,000 after buying an additional 812,000 shares during the period. Wellington Management Group LLP raised its holdings in shares of Immunocore by 10.5% in the 3rd quarter. Wellington Management Group LLP now owns 7,048,833 shares of the company's stock valued at $219,430,000 after purchasing an additional 668,382 shares in the last quarter. Millennium Management LLC lifted its holdings in Immunocore by 124.4% during the second quarter. Millennium Management LLC now owns 600,954 shares of the company's stock worth $20,366,000 after buying an additional 333,167 shares during the period. Finally, Two Sigma Advisers LP grew its stake in Immunocore by 65.6% in the third quarter. Two Sigma Advisers LP now owns 757,700 shares of the company's stock valued at $23,587,000 after purchasing an additional 300,200 shares during the last quarter. 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.