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

Needham & Company LLC reaffirmed their buy rating on shares of Immunocore (NASDAQ:IMCR) in a research report report published on Friday,Benzinga reports. The firm currently has a $71.00 price objective on the stock.

Several other research firms have also recently weighed in on IMCR. Mizuho cut shares of Immunocore from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $72.00 to $38.00 in a research note on Monday, November 11th. Morgan Stanley reissued an “equal weight” rating and issued a $35.00 price objective (down previously from $74.00) on shares of Immunocore in a research report on Friday, December 13th. UBS Group initiated coverage on shares of Immunocore in a research note on Thursday, October 24th. They issued a “sell” rating and a $24.00 target price for the company. HC Wainwright reissued a “buy” rating and set a $100.00 price target on shares of Immunocore in a research report on Thursday, October 24th. Finally, Guggenheim cut Immunocore from a “buy” rating to a “neutral” rating in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $65.64.

Immunocore Trading Up 0.6 %

Shares of NASDAQ:IMCR opened at $30.40 on Friday. The company’s 50-day moving average price is $31.16 and its two-hundred day moving average price is $33.77. Immunocore has a one year low of $27.69 and a one year high of $76.98. The company has a debt-to-equity ratio of 1.03, a current ratio of 3.78 and a quick ratio of 3.76. The stock has a market capitalization of $1.52 billion, a PE ratio of -32.00 and a beta of 0.76.

Immunocore (NASDAQ:IMCR) last released its earnings results on Wednesday, November 6th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.50. The business had revenue of $80.25 million for the quarter, compared to analyst estimates of $78.94 million. Immunocore had a negative return on equity of 12.84% and a negative net margin of 15.87%. Immunocore’s revenue was up 23.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.59) earnings per share. On average, equities analysts forecast that Immunocore will post -0.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in IMCR. Primecap Management Co. CA increased 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 worth $76,954,000 after acquiring an additional 520,950 shares during the period. State Street Corp raised its position in shares of Immunocore by 63.9% in the third quarter. State Street Corp now owns 76,671 shares of the company’s stock valued at $2,387,000 after buying an additional 29,897 shares in the last quarter. Frazier Life Sciences Management L.P. bought a new stake in shares of Immunocore in the second quarter valued at approximately $3,686,000. Principal Financial Group Inc. grew its position in Immunocore by 25.0% during the third quarter. Principal Financial Group Inc. now owns 546,318 shares of the company’s stock worth $17,007,000 after buying an additional 109,206 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Immunocore by 14.5% in the 2nd quarter. Renaissance Technologies LLC now owns 646,920 shares of the company’s stock valued at $21,924,000 after acquiring an additional 82,120 shares in the last quarter. Institutional investors 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.