Immunocore (NASDAQ:IMCR) Shares Gap Up – What’s Next?

Immunocore Holdings plc (NASDAQ:IMCR) gapped up before the market opened on Wednesday . The stock had previously closed at $32.45, but opened at $34.07. Immunocore shares last traded at $34.07, with a volume of 1,023 shares changing hands.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IMCR. Oppenheimer restated an “outperform” rating and issued a $89.00 target price (up from $87.00) on shares of Immunocore in a report on Friday, August 9th. UBS Group began coverage on shares of Immunocore in a research note on Thursday, October 24th. They issued a “sell” rating and a $24.00 price objective for the company. Needham & Company LLC lowered their target price on shares of Immunocore from $78.00 to $71.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Mizuho lowered shares of Immunocore from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $72.00 to $38.00 in a research report on Monday, November 11th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $100.00 price target on shares of Immunocore in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Immunocore currently has an average rating of “Moderate Buy” and a consensus price target of $69.18.

Immunocore Stock Up 1.4 %

The firm has a fifty day simple moving average of $32.27 and a 200 day simple moving average of $36.98. 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 (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.50. Immunocore had a negative net margin of 15.87% and a negative return on equity of 12.84%. The company had revenue of $80.25 million during the quarter, compared to analysts’ expectations of $78.94 million. During the same quarter in the prior year, the company posted ($0.59) EPS. The business’s revenue was up 23.7% on a year-over-year basis. As a group, analysts expect that Immunocore Holdings plc will post -0.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Immunocore

A number of institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its position in shares of Immunocore by 1,867.3% during the 2nd quarter. SG Americas Securities LLC now owns 160,358 shares of the company’s stock worth $5,435,000 after buying an additional 152,207 shares during the period. Primecap Management Co. CA raised its stake in Immunocore by 26.7% during the third quarter. Primecap Management Co. CA now owns 2,472,020 shares of the company’s stock worth $76,954,000 after acquiring an additional 520,950 shares in the last quarter. Candriam S.C.A. lifted its holdings in shares of Immunocore by 65.8% during the second quarter. Candriam S.C.A. now owns 313,423 shares of the company’s stock valued at $10,621,000 after acquiring an additional 124,417 shares during the period. Frazier Life Sciences Management L.P. acquired a new stake in shares of Immunocore in the 2nd quarter valued at $3,686,000. Finally, Janus Henderson Group PLC grew its holdings in shares of Immunocore by 45.8% in the 1st quarter. Janus Henderson Group PLC now owns 257,080 shares of the company’s stock worth $16,711,000 after purchasing an additional 80,748 shares during the last quarter. 84.50% of the stock is owned by institutional investors and hedge funds.

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.