Immunocore’s (IMCR) Equal Weight Rating Reaffirmed at Morgan Stanley

Morgan Stanley reaffirmed their equal weight rating on shares of Immunocore (NASDAQ:IMCR) in a research report released on Friday, Marketbeat reports. The brokerage currently has a $35.00 price objective on the stock, down from their prior price objective of $74.00.

IMCR has been the subject of several other research reports. Mizuho lowered shares of Immunocore from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $72.00 to $38.00 in a research report on Monday, November 11th. UBS Group initiated coverage on shares of Immunocore in a research note on Thursday, October 24th. They issued a “sell” rating and a $24.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $100.00 price target on shares of Immunocore in a research note on Thursday, October 24th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunocore in a research note on Monday, September 9th. Finally, Needham & Company LLC reduced their price objective on Immunocore from $78.00 to $71.00 and set a “buy” rating for the company in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Immunocore currently has an average rating of “Moderate Buy” and an average target price of $65.64.

Immunocore Price Performance

Immunocore stock opened at $28.91 on Friday. The stock has a market cap of $1.45 billion, a P/E ratio of -30.43 and a beta of 0.73. The company has a quick ratio of 3.76, a current ratio of 3.78 and a debt-to-equity ratio of 1.03. The company’s 50 day moving average price is $32.28 and its two-hundred day moving average price is $35.36. Immunocore has a 52 week low of $28.27 and a 52 week high of $76.98.

Immunocore (NASDAQ:IMCR) last issued its quarterly 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 business had revenue of $80.25 million for the quarter, compared to analyst estimates of $78.94 million. Immunocore had a negative return on equity of 12.84% and a negative net margin of 15.87%. Immunocore’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same period last year, the company posted ($0.59) earnings per share. On average, equities analysts predict that Immunocore will post -0.94 earnings per share for the current year.

Institutional Investors Weigh In On Immunocore

A number of institutional investors and hedge funds have recently modified their holdings of IMCR. Exchange Traded Concepts LLC grew its stake 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 acquiring an additional 1,461 shares in the last quarter. Connective Portfolio Management LLC purchased a new position in shares of Immunocore during the 3rd quarter valued at $218,000. China Universal Asset Management Co. Ltd. grew its position in shares of Immunocore by 69.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,433 shares of the company’s stock valued at $231,000 after purchasing an additional 3,053 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Immunocore in the second quarter worth $303,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Immunocore in the third quarter worth $406,000. 84.50% of the stock is owned by hedge funds and other 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.