Immunocore (NASDAQ:IMCR) Trading Up 6.1% – Should You Buy?

Immunocore Holdings plc (NASDAQ:IMCR)’s stock price traded up 6.1% on Thursday . The stock traded as high as $32.62 and last traded at $32.90. 87,754 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 281,767 shares. The stock had previously closed at $31.02.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $71.00 price objective on shares of Immunocore in a report on Friday, January 10th. Mizuho lowered shares of Immunocore from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $72.00 to $38.00 in a report on Monday, November 11th. Morgan Stanley reiterated an “equal weight” rating and set a $35.00 price objective (down previously from $74.00) on shares of Immunocore in a research note on Friday, December 13th. HC Wainwright restated a “buy” rating and issued a $100.00 target price on shares of Immunocore in a research note on Thursday, October 24th. Finally, UBS Group assumed coverage on Immunocore in a research report on Thursday, October 24th. They set a “sell” rating and a $24.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Immunocore presently has an average rating of “Moderate Buy” and a consensus price target of $65.64.

Immunocore Price Performance

The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.76 and a current ratio of 3.78. The stock’s 50-day moving average is $30.50 and its two-hundred day moving average is $33.43. The stock has a market cap of $1.64 billion, a PE ratio of -34.42 and a beta of 0.76.

Immunocore (NASDAQ:IMCR) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.50. The business had revenue of $80.25 million during the quarter, compared to analysts’ expectations of $78.94 million. Immunocore had a negative return on equity of 12.84% and a negative net margin of 15.87%. The company’s revenue was up 23.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.59) earnings per share. On average, equities analysts predict that Immunocore Holdings plc will post -0.94 earnings per share for the current year.

Institutional Trading of Immunocore

A number of institutional investors have recently bought and sold shares of the business. Armistice Capital LLC grew its stake in Immunocore by 495.1% during the 2nd quarter. Armistice Capital LLC now owns 976,000 shares of the company’s stock worth $33,077,000 after buying an additional 812,000 shares during the last quarter. Wellington Management Group LLP boosted its stake in Immunocore by 10.5% during the 3rd quarter. Wellington Management Group LLP now owns 7,048,833 shares of the company’s stock worth $219,430,000 after purchasing an additional 668,382 shares during the period. Primecap Management Co. CA grew its position in Immunocore by 26.7% during the 3rd quarter. Primecap Management Co. CA now owns 2,472,020 shares of the company’s stock worth $76,954,000 after purchasing an additional 520,950 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Immunocore by 124.4% in the second quarter. Millennium Management LLC now owns 600,954 shares of the company’s stock valued at $20,366,000 after buying an additional 333,167 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its stake in shares of Immunocore by 65.6% during the third quarter. Two Sigma Advisers LP now owns 757,700 shares of the company’s stock worth $23,587,000 after buying an additional 300,200 shares during the period. 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.