Immunocore (NASDAQ:IMCR) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Immunocore (NASDAQ:IMCR) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning, Zacks.com reports. The brokerage currently has $32.00 target price on the stock.

According to Zacks, “Immunocore Holdings plc is a late-stage biotechnology company. It engages in development of a novel class of T cell receptor bispecific immunotherapies designed to treat diseases, including cancer, infectious and autoimmune disease. Immunocore Holdings plc is based in Abingdon, the United Kingdom. “

Separately, Oppenheimer assumed coverage on Immunocore in a research report on Tuesday, October 19th. They issued an outperform rating and a $56.00 price objective for the company. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Immunocore currently has a consensus rating of Buy and an average price target of $50.20.

Shares of Immunocore stock opened at $22.95 on Wednesday. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.31. The stock has a 50 day moving average price of $33.63 and a two-hundred day moving average price of $34.63. Immunocore has a 12-month low of $21.85 and a 12-month high of $61.99.

Immunocore (NASDAQ:IMCR) last posted its quarterly earnings data on Wednesday, November 10th. The company reported ($0.95) earnings per share for the quarter, beating the consensus estimate of ($1.10) by $0.15. The business had revenue of $8.17 million during the quarter, compared to the consensus estimate of $6.92 million. On average, analysts predict that Immunocore will post -3.95 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. Legal & General Group Plc bought a new position in Immunocore in the second quarter worth $725,000. Boothbay Fund Management LLC bought a new position in Immunocore in the second quarter worth $236,000. Virtus ETF Advisers LLC bought a new position in Immunocore in the second quarter worth $220,000. Rhenman & Partners Asset Management AB bought a new position in Immunocore in the second quarter worth $3,515,000. Finally, Point72 Asset Management L.P. bought a new position in Immunocore in the second quarter worth $2,847,000. 44.09% of the stock is owned by hedge funds and other institutional investors.

Immunocore Company Profile

Immunocore Holdings Limited, a late-stage biotechnology company, develops immunotherapies for the treatment of oncology, infectious, and autoimmune diseases. The company's lead oncology therapeutic candidate is tebentafusp, which is in a randomized Phase III clinical trial in patients with previously untreated metastatic uveal melanoma, a cancer that has historically proven to be insensitive to other immunotherapies.

Read More: What are the benefits of momentum investing?

Get a free copy of the Zacks research report on Immunocore (IMCR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Immunocore Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Immunocore and related companies with MarketBeat.com's FREE daily email newsletter.