Immunocore (NASDAQ:IMCR) Upgraded by Zacks Research to “Strong-Buy” Rating

Immunocore (NASDAQ:IMCR) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

IMCR has been the subject of a number of other research reports. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 price target on shares of Immunocore in a research note on Monday, April 20th. Mizuho set a $38.00 price target on Immunocore in a research note on Thursday, February 19th. Weiss Ratings reissued a “sell (e+)” rating on shares of Immunocore in a research note on Tuesday, April 21st. Wall Street Zen raised shares of Immunocore from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Needham & Company LLC increased their price target on shares of Immunocore from $71.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.75.

Immunocore Price Performance

IMCR opened at $29.58 on Thursday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 4.01 and a current ratio of 4.18. The stock has a market capitalization of $1.50 billion, a PE ratio of -53.78 and a beta of 0.74. The stock’s 50 day moving average price is $30.87 and its 200-day moving average price is $33.32. Immunocore has a 52-week low of $27.44 and a 52-week high of $40.71.

Immunocore (NASDAQ:IMCR) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.51. Immunocore had a negative return on equity of 7.07% and a negative net margin of 6.68%.The company had revenue of $106.68 million during the quarter, compared to analyst estimates of $145.15 million. During the same quarter last year, the firm posted $0.10 earnings per share. The firm’s revenue was up 13.6% on a year-over-year basis. On average, equities research analysts predict that Immunocore will post -0.83 EPS for the current year.

Insider Buying and Selling

In related news, insider Leger Tina Amber St sold 1,000 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $32.35, for a total value of $32,350.00. Following the completion of the transaction, the insider directly owned 1,119 shares of the company’s stock, valued at $36,199.65. This represents a 47.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Bahija Jallal sold 11,474 shares of the stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $32.35, for a total transaction of $371,183.90. Following the completion of the transaction, the chief executive officer directly owned 12,343 shares of the company’s stock, valued at approximately $399,296.05. The trade was a 48.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 19,137 shares of company stock valued at $619,082 over the last three months. Corporate insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On Immunocore

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Immunocore by 287.2% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,674 shares of the company’s stock valued at $955,000 after purchasing an additional 23,494 shares in the last quarter. Rockefeller Capital Management L.P. bought a new position in shares of Immunocore during the fourth quarter valued at approximately $47,000. XTX Topco Ltd bought a new position in shares of Immunocore during the fourth quarter valued at approximately $763,000. Voloridge Investment Management LLC bought a new position in shares of Immunocore during the fourth quarter valued at approximately $978,000. Finally, Vestal Point Capital LP bought a new position in shares of Immunocore during the fourth quarter valued at approximately $20,305,000. Institutional investors own 84.50% of the company’s stock.

Immunocore Company Profile

Immunocore plc is a clinical?stage biotechnology company focused on the development of novel immunotherapies that harness the body’s own T?cell response to treat cancer and infectious diseases. The company’s proprietary ImmTAC (immune mobilising monoclonal T?cell receptors against cancer) platform utilizes engineered, soluble T?cell receptor (TCR) molecules designed to recognise intracellular peptide–HLA complexes. By redirecting and activating T cells against disease?associated targets, Immunocore aims to address malignancies and persistent viral infections with high unmet medical need.

The company’s most advanced candidate, tebentafusp, is a bispecific ImmTAC molecule that targets gp100, a melanoma?associated antigen, and has received regulatory approval for the treatment of metastatic uveal melanoma.