Immunocore (NASDAQ:IMCR) PT Lowered to $74.00

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

Several other analysts have also weighed in on IMCR. Needham & Company LLC lowered their price objective on shares of Immunocore from $81.00 to $78.00 and set a buy rating for the company in a research note on Tuesday, September 17th. HC Wainwright reiterated a buy rating and set a $100.00 price objective on shares of Immunocore in a report on Tuesday, September 17th. Guggenheim cut shares of Immunocore from a buy rating to a neutral rating in a research report on Monday, October 7th. Barclays decreased their target price on Immunocore from $92.00 to $66.00 and set an overweight rating for the company in a research report on Friday, August 9th. Finally, Oppenheimer reiterated an outperform rating and issued a $89.00 price target (up previously from $87.00) on shares of Immunocore in a report on Friday, August 9th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $79.82.

Immunocore Stock Performance

Shares of IMCR opened at $32.19 on Friday. The company has a current ratio of 5.17, a quick ratio of 5.15 and a debt-to-equity ratio of 1.31. The firm’s fifty day simple moving average is $34.08 and its two-hundred day simple moving average is $42.74. Immunocore has a 12 month low of $29.72 and a 12 month high of $76.98. The stock has a market capitalization of $1.61 billion, a P/E ratio of -26.39 and a beta of 0.72.

Immunocore (NASDAQ:IMCR) last announced its earnings results on Thursday, August 8th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.25. The company had revenue of $75.40 million for the quarter, compared to analyst estimates of $74.58 million. Immunocore had a negative return on equity of 14.68% and a negative net margin of 19.16%. The firm’s revenue for the quarter was up 26.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.37) EPS. As a group, analysts predict that Immunocore will post -1.67 EPS for the current year.

Institutional Investors Weigh In On Immunocore

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP grew its stake in shares of Immunocore by 10.2% in 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 in the last quarter. Hennion & Walsh Asset Management Inc. grew its position in Immunocore by 71.4% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 21,232 shares of the company’s stock worth $1,380,000 after purchasing an additional 8,848 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Immunocore by 2.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 87,614 shares of the company’s stock valued at $5,695,000 after buying an additional 1,830 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Immunocore by 69.8% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,621 shares of the company’s stock worth $430,000 after buying an additional 2,721 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Immunocore by 7.0% in the 1st quarter. Principal Financial Group Inc. now owns 517,204 shares of the company’s stock worth $33,618,000 after buying an additional 33,868 shares during the last quarter. 84.50% of the stock is owned by hedge funds and other institutional investors.

About Immunocore

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.