Immunocore (NASDAQ:IMCR) Stock Price Up 6.1% – Here’s Why

Immunocore Holdings plc (NASDAQ:IMCR)’s share price shot up 6.1% during trading on Thursday . The company traded as high as $32.62 and last traded at $32.90. 87,754 shares traded 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.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IMCR. Mizuho downgraded shares of Immunocore from an “outperform” rating to a “neutral” rating and cut their price target for the company from $72.00 to $38.00 in a report on Monday, November 11th. HC Wainwright reiterated a “buy” rating and set a $100.00 price target on shares of Immunocore in a research report on Thursday, October 24th. Needham & Company LLC restated a “buy” rating and issued a $71.00 price target on shares of Immunocore in a report on Friday, January 10th. UBS Group began coverage on Immunocore in a report on Thursday, October 24th. They set a “sell” rating and a $24.00 price objective for the company. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $35.00 target price (down previously from $74.00) on shares of Immunocore in a report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Immunocore currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.64.

Immunocore Stock Performance

The firm has a market cap of $1.64 billion, a PE ratio of -34.42 and a beta of 0.76. The stock has a 50-day moving average price of $30.50 and a 200 day moving average price of $33.43. The company has a debt-to-equity ratio of 1.03, a current ratio of 3.78 and a quick ratio of 3.76.

Immunocore (NASDAQ:IMCR) last released its earnings results 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 firm had revenue of $80.25 million during the quarter, compared to the consensus estimate of $78.94 million. Immunocore had a negative net margin of 15.87% and a negative return on equity of 12.84%. Immunocore’s revenue was up 23.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.59) earnings per share. Research analysts forecast that Immunocore Holdings plc will post -0.94 earnings per share for the current year.

Institutional Trading of Immunocore

Institutional investors have recently modified their holdings of the company. Primecap Management Co. CA lifted its position in Immunocore by 26.7% during the third quarter. Primecap Management Co. CA now owns 2,472,020 shares of the company’s stock valued at $76,954,000 after buying an additional 520,950 shares in the last quarter. State Street Corp lifted its holdings in shares of Immunocore by 63.9% during the 3rd quarter. State Street Corp now owns 76,671 shares of the company’s stock valued at $2,387,000 after acquiring an additional 29,897 shares in the last quarter. Frazier Life Sciences Management L.P. purchased a new stake in Immunocore during the 2nd quarter worth $3,686,000. Principal Financial Group Inc. increased its holdings in Immunocore by 25.0% in the 3rd quarter. Principal Financial Group Inc. now owns 546,318 shares of the company’s stock valued at $17,007,000 after purchasing an additional 109,206 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its position in Immunocore by 125.4% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 49,608 shares of the company’s stock valued at $1,463,000 after purchasing an additional 27,598 shares during the period. 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.