Immunocore (NASDAQ:IMCR) Given “Outperform” Rating at Leerink Partnrs

Immunocore (NASDAQ:IMCR)‘s stock had its “outperform” rating restated by research analysts at Leerink Partnrs in a report issued on Monday, Zacks.com reports. Leerink Partnrs also issued estimates for Immunocore’s Q1 2024 earnings at ($0.49) EPS, Q2 2024 earnings at ($0.41) EPS, Q3 2024 earnings at ($0.44) EPS, Q4 2024 earnings at ($0.24) EPS, FY2024 earnings at ($1.58) EPS and FY2025 earnings at ($2.14) EPS.

IMCR has been the subject of several other reports. SVB Leerink initiated coverage on shares of Immunocore in a research note on Monday. They set an “outperform” rating and a $74.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $81.00 price objective on shares of Immunocore in a research report on Thursday, April 11th. Oppenheimer restated an “outperform” rating and set a $87.00 target price (up previously from $85.00) on shares of Immunocore in a research report on Thursday, February 29th. JPMorgan Chase & Co. increased their price target on Immunocore from $60.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. Finally, Canaccord Genuity Group upped their price objective on Immunocore from $60.00 to $63.00 and gave the company a “hold” rating in a research report on Thursday, February 29th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.92.

Immunocore Price Performance

IMCR stock opened at $59.05 on Monday. Immunocore has a 52 week low of $42.21 and a 52 week high of $76.98. The firm has a market capitalization of $2.94 billion, a P/E ratio of -50.90 and a beta of 0.92. The company has a fifty day simple moving average of $61.68 and a two-hundred day simple moving average of $60.94. The company has a quick ratio of 3.77, a current ratio of 3.80 and a debt-to-equity ratio of 0.13.

Immunocore (NASDAQ:IMCR) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.12). The company had revenue of $70.16 million during the quarter, compared to analysts’ expectations of $53.25 million. Immunocore had a negative return on equity of 15.78% and a negative net margin of 22.48%. The company’s revenue was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.63) EPS. Analysts anticipate that Immunocore will post -1.54 earnings per share for the current fiscal year.

Institutional Trading of Immunocore

Several hedge funds have recently modified their holdings of IMCR. China Universal Asset Management Co. Ltd. grew its stake in Immunocore by 103.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 836 shares of the company’s stock worth $43,000 after buying an additional 426 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Immunocore by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 2,656 shares of the company’s stock valued at $181,000 after acquiring an additional 674 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Immunocore by 1.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 108,651 shares of the company’s stock valued at $5,639,000 after acquiring an additional 1,513 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Immunocore by 26.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 7,491 shares of the company’s stock valued at $389,000 after purchasing an additional 1,572 shares during the last quarter. Finally, Trexquant Investment LP boosted its stake in Immunocore by 6.5% in the 4th quarter. Trexquant Investment LP now owns 28,545 shares of the company’s stock worth $1,950,000 after purchasing an additional 1,746 shares in the last quarter. 84.50% of the stock is owned by hedge funds and other 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.