SVB Leerink Initiates Coverage on Immunocore (NASDAQ:IMCR)

Stock analysts at SVB Leerink started coverage on shares of Immunocore (NASDAQ:IMCR) in a research report issued on Monday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $74.00 price target on the stock. SVB Leerink’s target price indicates a potential upside of 25.25% from the company’s current price.

A number of other brokerages have also recently commented on IMCR. Guggenheim reaffirmed a “buy” rating and issued a $92.00 target price on shares of Immunocore in a report on Tuesday, April 23rd. Canaccord Genuity Group increased their price target on Immunocore from $60.00 to $63.00 and gave the stock a “hold” rating in a research note on Thursday, February 29th. HC Wainwright reiterated a “buy” rating and issued a $90.00 price target on shares of Immunocore in a research note on Wednesday, March 6th. Mizuho increased their price target on Immunocore from $86.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $87.00 price target (up previously from $85.00) on shares of Immunocore in a research note on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $80.92.

Immunocore Price Performance

NASDAQ IMCR opened at $59.08 on Monday. The business’s fifty day moving average price is $61.90 and its 200-day moving average price is $60.95. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of -50.93 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.80 and a quick ratio of 3.77. Immunocore has a 1-year low of $42.21 and a 1-year high of $76.98.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. grew its position in shares of Immunocore by 103.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 836 shares of the company’s stock valued at $43,000 after purchasing an additional 426 shares in the last quarter. Exchange Traded Concepts LLC grew its position in Immunocore by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 2,656 shares of the company’s stock worth $181,000 after acquiring an additional 674 shares in the last quarter. JGP Global Gestao de Recursos Ltda. purchased a new position in Immunocore in the fourth quarter worth about $230,000. NEOS Investment Management LLC purchased a new position in Immunocore in the fourth quarter worth about $262,000. Finally, Legato Capital Management LLC grew its position in Immunocore by 61.7% in the fourth quarter. Legato Capital Management LLC now owns 7,235 shares of the company’s stock worth $494,000 after acquiring an additional 2,762 shares in the last quarter. Hedge funds and other institutional investors own 84.50% of the company’s stock.

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.