Immunocore (NASDAQ:IMCR) Receives New Coverage from Analysts at UBS Group

UBS Group assumed coverage on shares of Immunocore (NASDAQ:IMCR - Get Free Report) in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The brokerage set a "sell" rating and a $24.00 price target on the stock. UBS Group's price objective would suggest a potential downside of 26.15% from the company's current price.

Other analysts also recently issued research reports about the company. JPMorgan Chase & Co. decreased their target price on Immunocore from $70.00 to $66.00 and set an "overweight" rating for the company in a research note on Wednesday, July 10th. Cantor Fitzgerald reissued an "overweight" rating on shares of Immunocore in a research report on Monday, September 9th. Oppenheimer restated 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. Morgan Stanley cut their target price on shares of Immunocore from $80.00 to $74.00 and set an "overweight" rating for the company in a research note on Friday, October 11th. Finally, HC Wainwright restated a "buy" rating and issued a $100.00 price target on shares of Immunocore in a research report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $75.17.

Immunocore Stock Performance

Shares of Immunocore stock traded up $0.48 on Thursday, reaching $32.50. The stock had a trading volume of 274,069 shares, compared to its average volume of 541,900. 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 business's 50-day moving average price is $33.48 and its two-hundred day moving average price is $41.40. The stock has a market cap of $1.63 billion, a P/E ratio of -25.90 and a beta of 0.72. Immunocore has a fifty-two week low of $29.72 and a fifty-two week high of $76.98.

Immunocore (NASDAQ:IMCR - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported ($0.23) earnings per share for the quarter, topping analysts' consensus estimates of ($0.48) by $0.25. The firm had revenue of $75.40 million during the quarter, compared to analyst estimates of $74.58 million. Immunocore had a negative net margin of 19.16% and a negative return on equity of 14.68%. The business's revenue was up 26.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.37) EPS. On average, sell-side analysts forecast that Immunocore will post -1.67 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC boosted its holdings in Immunocore by 40.4% during the third quarter. Exchange Traded Concepts LLC now owns 5,075 shares of the company's stock valued at $158,000 after purchasing an additional 1,461 shares in the last quarter. Connective Portfolio Management LLC bought a new position in shares of Immunocore during the 3rd quarter worth approximately $218,000. Frazier Life Sciences Management L.P. acquired a new stake in Immunocore in the 2nd quarter valued at $3,686,000. The Manufacturers Life Insurance Company grew 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 valued at $4,126,000 after acquiring an additional 33,003 shares during the period. Finally, Millennium Management LLC raised its stake 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 acquiring an additional 333,167 shares in the last quarter. 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.