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

Immunocore (NASDAQ:IMCR)‘s stock had its “buy” rating reissued by Needham & Company LLC in a note issued to investors on Friday,Benzinga reports. They presently have a $71.00 target price on the stock. Needham & Company LLC’s price target would suggest a potential upside of 136.19% from the stock’s previous close.

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

Immunocore Stock Performance

IMCR traded down $0.17 during midday trading on Friday, reaching $30.06. The company had a trading volume of 96,862 shares, compared to its average volume of 198,855. Immunocore has a 12-month low of $27.69 and a 12-month high of $76.98. The business has a 50-day moving average price of $31.19 and a two-hundred day moving average price of $33.80. The stock has a market cap of $1.50 billion, a PE ratio of -31.64 and a beta of 0.76. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.76 and a current ratio of 3.78.

Immunocore (NASDAQ:IMCR) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.50. The business had revenue of $80.25 million during 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% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.59) earnings per share. On average, sell-side analysts expect that Immunocore will post -0.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Immunocore

A number of institutional investors have recently made changes to their positions in IMCR. Wellington Management Group LLP grew its position in Immunocore by 10.5% in 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. FMR LLC lifted its stake in 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 purchasing an additional 23,436 shares during the last quarter. Primecap Management Co. CA boosted its holdings in shares of Immunocore by 26.7% in the 3rd quarter. Primecap Management Co. CA now owns 2,472,020 shares of the company’s stock worth $76,954,000 after purchasing an additional 520,950 shares in the last quarter. Bellevue Group AG increased its position in shares of Immunocore by 4.4% during the 3rd quarter. Bellevue Group AG now owns 1,205,464 shares of the company’s stock valued at $37,526,000 after purchasing an additional 50,810 shares during the last quarter. Finally, Armistice Capital LLC raised its holdings in shares of Immunocore by 495.1% during the 2nd quarter. Armistice Capital LLC now owns 976,000 shares of the company’s stock valued at $33,077,000 after buying an additional 812,000 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.