Immunocore (NASDAQ:IMCR) Price Target Raised to $67.00

Immunocore (NASDAQ:IMCR) had its target price raised by Canaccord Genuity Group from $63.00 to $67.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “hold” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 11.95% from the stock’s current price.

A number of other research firms have also recently weighed in on IMCR. Guggenheim reaffirmed a “buy” rating and set a $92.00 price target on shares of Immunocore in a research note on Tuesday, April 23rd. Oppenheimer reissued an “outperform” rating and set a $87.00 price target (up previously from $85.00) on shares of Immunocore in a research note on Thursday, February 29th. SVB Leerink assumed coverage on Immunocore in a report on Monday, April 29th. They set an “outperform” rating and a $74.00 price objective for the company. Leerink Partnrs reissued an “outperform” rating on shares of Immunocore in a report on Monday, April 29th. Finally, JPMorgan Chase & Co. raised their price target on Immunocore from $60.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.00.

Immunocore Stock Performance

IMCR traded down $1.47 during trading on Thursday, hitting $59.85. The stock had a trading volume of 540,493 shares, compared to its average volume of 475,137. Immunocore has a twelve month low of $42.21 and a twelve month high of $76.98. The firm has a market capitalization of $2.98 billion, a P/E ratio of -51.46 and a beta of 0.92. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.77 and a current ratio of 3.80. The company’s 50-day moving average price is $60.76 and its 200 day moving average price is $61.33.

Immunocore (NASDAQ:IMCR) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.12). Immunocore had a negative return on equity of 15.78% and a negative net margin of 22.48%. The firm had revenue of $70.30 million for the quarter, compared to analysts’ expectations of $70.72 million. During the same period in the prior year, the company earned ($0.35) earnings per share. The company’s revenue for the quarter was up 27.6% on a year-over-year basis. On average, equities research analysts forecast that Immunocore will post -1.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Immunocore

Several institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. purchased a new position in Immunocore during the third quarter worth approximately $650,000. TD Asset Management Inc raised its holdings in shares of Immunocore by 109.9% in the 3rd quarter. TD Asset Management Inc now owns 301,920 shares of the company’s stock worth $15,670,000 after purchasing an additional 158,086 shares during the period. Assetmark Inc. lifted its stake in shares of Immunocore by 54.9% in the 3rd quarter. Assetmark Inc. now owns 11,011 shares of the company’s stock valued at $571,000 after purchasing an additional 3,902 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Immunocore by 1.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 108,651 shares of the company’s stock worth $5,639,000 after purchasing an additional 1,513 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its holdings in Immunocore by 103.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 836 shares of the company’s stock valued at $43,000 after buying an additional 426 shares during the period. 84.50% of the stock is currently owned by institutional investors and hedge funds.

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.