Needham & Company LLC Trims Immunocore (NASDAQ:IMCR) Target Price to $78.00

Immunocore (NASDAQ:IMCR) had its price target cut by Needham & Company LLC from $81.00 to $78.00 in a report released on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts also recently commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Immunocore from $70.00 to $66.00 and set an overweight rating on the stock in a research report on Wednesday, July 10th. Oppenheimer reissued an outperform rating and issued a $89.00 price objective (up from $87.00) on shares of Immunocore in a research note on Friday, August 9th. Cantor Fitzgerald reissued an overweight rating on shares of Immunocore in a research report on Monday, September 9th. HC Wainwright reaffirmed a buy rating and set a $100.00 target price on shares of Immunocore in a research report on Tuesday. Finally, Barclays cut their price target on Immunocore from $92.00 to $66.00 and set an overweight rating for the company in a report on Friday, August 9th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $80.40.

Immunocore Stock Down 0.7 %

Shares of NASDAQ IMCR opened at $34.21 on Tuesday. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -28.04 and a beta of 0.73. The company has a debt-to-equity ratio of 1.31, a quick ratio of 5.15 and a current ratio of 5.17. The stock’s 50-day simple moving average is $37.07 and its 200-day simple moving average is $46.82. Immunocore has a 1 year low of $32.37 and a 1 year high of $76.98.

Immunocore (NASDAQ:IMCR) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.25. Immunocore had a negative net margin of 19.16% and a negative return on equity of 14.68%. The business had revenue of $75.40 million during the quarter, compared to the consensus estimate of $74.58 million. During the same quarter in the prior year, the firm earned ($0.37) EPS. The company’s revenue for the quarter was up 26.2% compared to the same quarter last year. As a group, equities analysts anticipate that Immunocore will post -1.79 earnings per share for the current fiscal year.

Institutional Trading of Immunocore

A number of large investors have recently bought and sold shares of the company. DNB Asset Management AS raised its holdings in shares of Immunocore by 35.0% during the 2nd quarter. DNB Asset Management AS now owns 7,211 shares of the company’s stock valued at $244,000 after buying an additional 1,868 shares in the last quarter. NEOS Investment Management LLC purchased a new stake in shares of Immunocore in the 4th quarter valued at $262,000. XTX Topco Ltd bought a new position in shares of Immunocore during the 2nd quarter valued at $303,000. Tidal Investments LLC purchased a new position in Immunocore in the 1st quarter worth $423,000. Finally, China Universal Asset Management Co. Ltd. boosted its position in Immunocore by 69.8% during the first quarter. China Universal Asset Management Co. Ltd. now owns 6,621 shares of the company’s stock valued at $430,000 after buying an additional 2,721 shares during the period. 84.50% of the stock is owned by hedge funds and other institutional investors.

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.