Immunocore (NASDAQ:IMCR) Given “Equal Weight” Rating at Morgan Stanley

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

Other equities analysts have also recently issued research reports about the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Immunocore in a research note on Monday, September 9th. Needham & Company LLC cut their price target on shares of Immunocore from $78.00 to $71.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Guggenheim lowered shares of Immunocore from a “buy” rating to a “neutral” rating in a research note on Monday, October 7th. UBS Group assumed coverage on shares of Immunocore in a research note on Thursday, October 24th. They set a “sell” rating and a $24.00 target price on the stock. Finally, Mizuho downgraded Immunocore from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $72.00 to $38.00 in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $65.64.

Immunocore Price Performance

Shares of NASDAQ IMCR 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 firm’s 50-day simple moving average is $32.28 and its 200 day simple moving average is $35.21. Immunocore has a fifty-two week low of $28.27 and a fifty-two week high of $76.98. The company has a quick ratio of 3.76, a current ratio of 3.78 and a debt-to-equity ratio of 1.03.

Immunocore (NASDAQ:IMCR) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.50. Immunocore had a negative return on equity of 12.84% and a negative net margin of 15.87%. The business had revenue of $80.25 million during the quarter, compared to analyst estimates of $78.94 million. During the same quarter in the prior year, the firm posted ($0.59) earnings per share. The company’s revenue was up 23.7% on a year-over-year basis. Equities analysts expect that Immunocore will post -0.94 EPS for the current year.

Institutional Investors Weigh In On Immunocore

A number of large investors have recently added to or reduced their stakes in IMCR. Exchange Traded Concepts LLC raised its position in shares of Immunocore by 40.4% in 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 during the period. Connective Portfolio Management LLC bought a new stake in shares of Immunocore during the 3rd quarter worth $218,000. China Universal Asset Management Co. Ltd. grew its stake in Immunocore by 69.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,433 shares of the company’s stock valued at $231,000 after buying an additional 3,053 shares during the last quarter. XTX Topco Ltd bought a new position in Immunocore in the 2nd quarter worth $303,000. Finally, GSA Capital Partners LLP acquired a new position in Immunocore during the 3rd quarter worth $406,000. 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.