Immunocore’s (IMCR) “Equal Weight” Rating Reiterated at Morgan Stanley

Immunocore (NASDAQ:IMCR)‘s stock had its “equal weight” rating reissued by investment analysts at Morgan Stanley in a report issued on Friday,Benzinga reports. They currently have a $35.00 price objective on the stock. Morgan Stanley’s price objective points to a potential upside of 15.84% from the stock’s current price.

IMCR has been the subject of several other research reports. Needham & Company LLC restated a “buy” rating and issued a $71.00 price objective on shares of Immunocore in a research report on Thursday, February 27th. HC Wainwright reiterated a “buy” rating and issued a $100.00 price target on shares of Immunocore in a research note on Friday, February 28th. Finally, Mizuho cut shares of Immunocore from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $72.00 to $38.00 in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Immunocore currently has an average rating of “Moderate Buy” and an average price target of $65.64.

Immunocore Stock Performance

IMCR stock traded down $0.60 during trading on Friday, reaching $30.22. 50,544 shares of the stock were exchanged, compared to its average volume of 224,865. The company has a market capitalization of $1.51 billion, a P/E ratio of -31.69 and a beta of 0.79. 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 has a twelve month low of $27.69 and a twelve month high of $66.00. The stock has a 50 day simple moving average of $30.15 and a 200-day simple moving average of $31.69.

Institutional Investors Weigh In On Immunocore

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP increased its position in shares of Immunocore by 10.5% during the third 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 in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in Immunocore by 3.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,700,208 shares of the company’s stock worth $197,657,000 after acquiring an additional 200,373 shares during the last quarter. FMR LLC lifted its position in shares of Immunocore by 0.5% during the third quarter. FMR LLC now owns 4,836,040 shares of the company’s stock worth $150,546,000 after acquiring an additional 23,436 shares in the last quarter. Primecap Management Co. CA increased its holdings in Immunocore by 8.0% during the 4th quarter. Primecap Management Co. CA now owns 2,668,550 shares of the company’s stock worth $78,722,000 after acquiring an additional 196,530 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Immunocore by 1.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,187,530 shares of the company’s stock worth $64,533,000 after purchasing an additional 29,832 shares in the last quarter. 84.50% of the stock is owned by institutional investors.

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.