Immunocore (NASDAQ:IMCR) Given New $74.00 Price Target at Morgan Stanley

Immunocore (NASDAQ:IMCR) had its price objective lowered by Morgan Stanley from $80.00 to $74.00 in a report released on Friday, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities research analysts have also recently commented on the company. Cantor Fitzgerald reissued an overweight rating on shares of Immunocore in a research note on Monday, September 9th. JPMorgan Chase & Co. cut their price objective on shares of Immunocore from $70.00 to $66.00 and set an overweight rating on the stock in a research report on Wednesday, July 10th. Guggenheim cut shares of Immunocore from a buy rating to a neutral rating in a report on Monday, October 7th. Needham & Company LLC cut their price target on shares of Immunocore from $81.00 to $78.00 and set a buy rating on the stock in a report on Tuesday, September 17th. Finally, HC Wainwright restated a buy rating and issued a $100.00 price objective on shares of Immunocore in a report on Tuesday, September 17th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $79.82.

Immunocore Stock Up 0.6 %

NASDAQ:IMCR opened at $31.09 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 5.17 and a quick ratio of 5.15. The firm’s 50-day moving average price is $34.18 and its 200-day moving average price is $43.24. The company has a market capitalization of $1.56 billion, a PE ratio of -28.79 and a beta of 0.72. Immunocore has a 1-year low of $29.72 and a 1-year high of $76.98.

Immunocore (NASDAQ:IMCR) last announced its earnings results on Thursday, August 8th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.25. The business had revenue of $75.40 million during the quarter, compared to the consensus estimate 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 for the quarter was up 26.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.37) earnings per share. On average, equities analysts predict that Immunocore will post -1.67 EPS for the current fiscal year.

Institutional Trading of Immunocore

Several large investors have recently added to or reduced their stakes in IMCR. Wellington Management Group LLP boosted its stake in shares of Immunocore by 10.2% during the 4th quarter. Wellington Management Group LLP now owns 4,312,611 shares of the company’s stock worth $294,638,000 after acquiring an additional 399,201 shares during the last quarter. Primecap Management Co. CA raised its holdings 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 during the period. 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 valued at $33,077,000 after purchasing an additional 812,000 shares in the last quarter. Fiera Capital Corp grew its holdings in Immunocore by 1.1% during the second quarter. Fiera Capital Corp now owns 875,593 shares of the company’s stock valued at $29,674,000 after purchasing an additional 9,181 shares during the period. Finally, Renaissance Technologies LLC increased its position in Immunocore by 14.5% in the second quarter. Renaissance Technologies LLC now owns 646,920 shares of the company’s stock worth $21,924,000 after buying an additional 82,120 shares in the last quarter. 84.50% of the stock is currently owned by 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.