Immunocore (NASDAQ:IMCR) Price Target Cut to $66.00

Immunocore (NASDAQ:IMCR) had its target price cut by equities research analysts at Barclays from $92.00 to $66.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 77.42% from the company’s current price.

A number of other equities research analysts have also recently weighed in on the stock. Guggenheim reiterated a “buy” rating and set a $92.00 price target on shares of Immunocore in a research report on Tuesday, April 23rd. Leerink Partnrs reiterated an “outperform” rating on shares of Immunocore in a research report on Monday, April 29th. Mizuho dropped their price target on shares of Immunocore from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Monday, May 13th. SVB Leerink initiated coverage on shares of Immunocore in a research report on Monday, April 29th. They set an “outperform” rating and a $74.00 price target for the company. Finally, Canaccord Genuity Group lifted their price target on shares of Immunocore from $63.00 to $67.00 and gave the company a “hold” rating in a research report on Thursday, May 9th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $81.83.

Immunocore Trading Down 1.9 %

Immunocore stock traded down $0.72 during midday trading on Friday, hitting $37.20. 264,234 shares of the stock were exchanged, compared to its average volume of 590,966. Immunocore has a fifty-two week low of $33.04 and a fifty-two week high of $76.98. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of -30.49 and a beta of 0.75. The stock’s 50-day simple moving average is $38.43 and its 200 day simple moving average is $53.87. The company has a current ratio of 5.96, a quick ratio of 5.94 and a debt-to-equity ratio of 1.22.

Immunocore (NASDAQ:IMCR) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.22. Immunocore had a negative net margin of 22.60% and a negative return on equity of 16.54%. The firm had revenue of $75.40 million during the quarter, compared to analysts’ expectations of $74.58 million. During the same period last year, the business earned ($0.37) earnings per share. Immunocore’s revenue was up 26.2% compared to the same quarter last year. On average, equities analysts anticipate that Immunocore will post -1.98 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. TD Asset Management Inc lifted its stake in Immunocore by 14.9% in the fourth quarter. TD Asset Management Inc now owns 346,930 shares of the company’s stock worth $23,702,000 after acquiring an additional 45,010 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in Immunocore in the fourth quarter worth approximately $1,314,000. Hsbc Holdings PLC purchased a new position in Immunocore in the fourth quarter worth approximately $4,450,000. Bellevue Group AG lifted its stake in Immunocore by 4,817.1% in the fourth quarter. Bellevue Group AG now owns 976,054 shares of the company’s stock worth $66,684,000 after acquiring an additional 956,204 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in Immunocore by 10.2% in the fourth quarter. Wellington Management Group LLP now owns 4,312,611 shares of the company’s stock worth $294,638,000 after acquiring an additional 399,201 shares during the last quarter. 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.