Immunocore’s (IMCR) Buy Rating Reiterated at Needham & Company LLC

Immunocore (NASDAQ:IMCR)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research note issued on Friday,Benzinga reports. They presently have a $71.00 price objective on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 133.55% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. HC Wainwright reiterated a “buy” rating and issued a $100.00 target price on shares of Immunocore in a report on Thursday, October 24th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $35.00 price objective (down from $74.00) on shares of Immunocore in a research note on Friday, December 13th. Mizuho downgraded shares of Immunocore from an “outperform” rating to a “neutral” rating and cut their target price for the company from $72.00 to $38.00 in a research report on Monday, November 11th. Guggenheim lowered shares of Immunocore from a “buy” rating to a “neutral” rating in a report on Monday, October 7th. Finally, UBS Group started coverage on shares of Immunocore in a research note on Thursday, October 24th. They set a “sell” rating and a $24.00 price objective on the stock. One equities research 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $65.64.

Immunocore Trading Up 0.6 %

NASDAQ IMCR opened at $30.40 on Friday. The stock has a market cap of $1.52 billion, a PE ratio of -32.00 and a beta of 0.76. Immunocore has a 12 month low of $27.69 and a 12 month high of $76.98. The company’s 50-day moving average price is $31.16 and its 200-day moving average price is $33.75. The company has a current ratio of 3.78, a quick ratio of 3.76 and a debt-to-equity ratio of 1.03.

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

Institutional Investors Weigh In On Immunocore

Institutional investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. lifted its holdings in shares of Immunocore by 0.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 70,571 shares of the company’s stock valued at $2,392,000 after purchasing an additional 606 shares during the last quarter. Pier Capital LLC increased its position in Immunocore by 1.4% during the 3rd quarter. Pier Capital LLC now owns 82,480 shares of the company’s stock valued at $2,568,000 after buying an additional 1,174 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in Immunocore by 40.4% in the third quarter. Exchange Traded Concepts LLC now owns 5,075 shares of the company’s stock valued at $158,000 after buying an additional 1,461 shares during the last quarter. Assetmark Inc. boosted its holdings in Immunocore by 6.5% in the third quarter. Assetmark Inc. now owns 30,555 shares of the company’s stock worth $951,000 after acquiring an additional 1,878 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its stake in shares of Immunocore by 69.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 7,433 shares of the company’s stock worth $231,000 after acquiring an additional 3,053 shares during the last quarter. 84.50% of the stock is currently owned by institutional investors and hedge funds.

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.