Immunocore (NASDAQ:IMCR) Receives “Buy” Rating from HC Wainwright

Immunocore (NASDAQ:IMCR)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a report released on Friday,Benzinga reports. They presently have a $100.00 target price on the stock. HC Wainwright’s price objective would indicate a potential upside of 244.46% from the stock’s previous close.

A number of other research firms have also commented on IMCR. Mizuho lowered shares of Immunocore from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $72.00 to $38.00 in a research note on Monday, November 11th. Morgan Stanley restated an “equal weight” rating and issued a $35.00 price target (down previously from $74.00) on shares of Immunocore in a research report on Friday, December 13th. Finally, Needham & Company LLC restated a “buy” rating and issued a $71.00 price target on shares of Immunocore in a research report on Thursday. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.64.

Immunocore Stock Performance

Shares of NASDAQ IMCR opened at $29.03 on Friday. 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 firm’s 50-day moving average price is $30.06 and its two-hundred day moving average price is $31.95. Immunocore has a 52-week low of $27.69 and a 52-week high of $72.05. The stock has a market capitalization of $1.45 billion, a P/E ratio of -30.56 and a beta of 0.77.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of IMCR. Wellington Management Group LLP lifted its position 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 acquiring an additional 668,382 shares during the last quarter. Groupama Asset Managment bought a new position in shares of Immunocore during the 4th quarter worth about $17,700,000. Primecap Management Co. CA increased its holdings in shares of 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 period. Deep Track Capital LP bought a new position in shares of Immunocore during the 4th quarter worth about $15,322,000. Finally, Tang Capital Management LLC increased its holdings in shares of Immunocore by 40.7% during the 4th quarter. Tang Capital Management LLC now owns 1,555,600 shares of the company’s stock worth $45,890,000 after purchasing an additional 450,000 shares during the period. Institutional investors and hedge funds own 84.50% of the company’s stock.

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.