Immunocore (NASDAQ:IMCR) Cut to “Neutral” at Mizuho

Mizuho cut shares of Immunocore (NASDAQ:IMCR) from an outperform rating to a neutral rating in a report issued on Monday, MarketBeat reports. They currently have $38.00 target price on the stock, down from their previous target price of $72.00.

Several other brokerages have also recently issued reports on IMCR. Guggenheim cut Immunocore from a “buy” rating to a “neutral” rating in a report on Monday, October 7th. HC Wainwright reiterated a “buy” rating and set a $100.00 target price on shares of Immunocore in a research report on Thursday, October 24th. Needham & Company LLC decreased their price target 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. UBS Group started 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. Finally, Oppenheimer reaffirmed 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. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.18.

Immunocore Stock Down 4.5 %

Shares of Immunocore stock opened at $32.62 on Monday. Immunocore has a twelve month low of $29.72 and a twelve month high of $76.98. The company’s 50 day moving average is $32.52 and its 200 day moving average is $38.89. The company has a quick ratio of 3.76, a current ratio of 3.78 and a debt-to-equity ratio of 1.03. The company has a market cap of $1.63 billion, a price-to-earnings ratio of -34.34 and a beta of 0.72.

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. The company had revenue of $80.25 million during the quarter, compared to the consensus estimate of $78.94 million. Immunocore had a negative return on equity of 12.84% and a negative net margin of 15.87%. The firm’s revenue was up 23.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.59) EPS. Research analysts anticipate that Immunocore will post -0.96 EPS for the current year.

Institutional Investors Weigh In On Immunocore

Several large investors have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC grew its stake in Immunocore by 40.4% in the third quarter. Exchange Traded Concepts LLC now owns 5,075 shares of the company’s stock worth $158,000 after purchasing an additional 1,461 shares in the last quarter. Connective Portfolio Management LLC bought a new position in shares of Immunocore during the 3rd quarter worth $218,000. China Universal Asset Management Co. Ltd. increased its stake in shares of Immunocore by 69.7% during the third 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 period. DNB Asset Management AS raised its holdings in shares of Immunocore by 35.0% in the second quarter. DNB Asset Management AS now owns 7,211 shares of the company’s stock valued at $244,000 after acquiring an additional 1,868 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in Immunocore in the second quarter worth about $303,000. 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.