Immunocore (NASDAQ:IMCR) Trading 7.4% Higher - What's Next?

Shares of Immunocore Holdings plc (NASDAQ:IMCR - Get Free Report) traded up 7.4% during mid-day trading on Monday . The company traded as high as $35.23 and last traded at $35.23. 63,781 shares were traded during mid-day trading, a decline of 88% from the average session volume of 538,137 shares. The stock had previously closed at $32.80.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Needham & Company LLC dropped their target price on Immunocore from $81.00 to $78.00 and set a "buy" rating on the stock in a research report on Tuesday, September 17th. Morgan Stanley decreased their price objective on Immunocore from $80.00 to $74.00 and set an "overweight" rating for the company in a report on Friday, October 11th. HC Wainwright reiterated a "buy" rating and set a $100.00 price target on shares of Immunocore in a research report on Thursday. Oppenheimer restated an "outperform" rating and issued a $89.00 price objective (up previously from $87.00) on shares of Immunocore in a research report on Friday, August 9th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Immunocore in a report on Monday, September 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, Immunocore currently has an average rating of "Moderate Buy" and a consensus price target of $75.17.

Immunocore Price Performance

The stock's 50 day moving average is $33.25 and its two-hundred day moving average is $40.72. 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 market capitalization of $1.67 billion, a PE ratio of -27.32 and a beta of 0.72.

Immunocore (NASDAQ:IMCR - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.23) EPS for the quarter, topping 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 firm had revenue of $75.40 million during the quarter, compared to analysts' expectations of $74.58 million. During the same period in the previous year, the business earned ($0.37) earnings per share. The firm's revenue for the quarter was up 26.2% on a year-over-year basis. On average, equities analysts anticipate that Immunocore Holdings plc will post -1.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Immunocore

Hedge funds and other institutional investors have recently modified their holdings of the business. Primecap Management Co. CA lifted its stake in 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 purchasing an additional 1,901,570 shares in the last quarter. Armistice Capital LLC lifted its position in Immunocore by 495.1% during the second quarter. Armistice Capital LLC now owns 976,000 shares of the company's stock worth $33,077,000 after buying an additional 812,000 shares in the last quarter. Millennium Management LLC boosted 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 buying an additional 333,167 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Immunocore by 86.3% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 342,000 shares of the company's stock valued at $22,230,000 after buying an additional 158,455 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Immunocore by 1,867.3% in the 2nd quarter. SG Americas Securities LLC now owns 160,358 shares of the company's stock worth $5,435,000 after acquiring an additional 152,207 shares during the last quarter. 84.50% of the stock is owned by hedge funds and other institutional investors.

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.