Immunocore (NASDAQ:IMCR) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Immunocore (NASDAQ:IMCR) in a research note released on Friday, Benzinga reports. They currently have a $81.00 price target on the stock.

Other analysts have also issued reports about the company. Leerink Partnrs reissued an outperform rating on shares of Immunocore in a research note on Monday, April 29th. Mizuho cut their target price on shares of Immunocore from $90.00 to $88.00 and set a buy rating on the stock in a research report on Monday, May 13th. Guggenheim restated a buy rating and issued a $92.00 price target on shares of Immunocore in a research report on Tuesday, April 23rd. HC Wainwright lifted their price target on shares of Immunocore from $90.00 to $100.00 and gave the stock a buy rating in a report on Thursday, May 9th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Immunocore from $60.00 to $70.00 and gave the stock an overweight rating in a research note on Wednesday, March 20th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $81.85.

Immunocore Price Performance

Shares of NASDAQ:IMCR opened at $46.05 on Friday. Immunocore has a one year low of $41.01 and a one year high of $76.98. The company has a debt-to-equity ratio of 1.22, a current ratio of 5.96 and a quick ratio of 5.94. The company has a market cap of $2.30 billion, a price-to-earnings ratio of -37.75 and a beta of 0.92. The firm has a 50 day simple moving average of $58.46 and a 200 day simple moving average of $62.03.

Immunocore (NASDAQ:IMCR) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.12). The firm had revenue of $70.30 million during the quarter, compared to the consensus estimate of $70.72 million. Immunocore had a negative net margin of 22.60% and a negative return on equity of 16.54%. The firm’s revenue was up 27.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.35) earnings per share. Research analysts predict that Immunocore will post -1.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Immunocore

A number of hedge funds have recently added to or reduced their stakes in IMCR. Bellevue Group AG grew its position in shares of Immunocore by 4,817.1% during the 4th quarter. Bellevue Group AG now owns 976,054 shares of the company’s stock worth $66,684,000 after buying an additional 956,204 shares during the period. Braidwell LP boosted its stake in Immunocore by 93.8% during the third quarter. Braidwell LP now owns 906,973 shares of the company’s stock worth $47,072,000 after acquiring an additional 438,946 shares in the last quarter. Wellington Management Group LLP grew its holdings 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 purchasing an additional 399,201 shares during the period. First Turn Management LLC bought a new stake in Immunocore in the fourth quarter valued at $23,439,000. Finally, Polar Capital Holdings Plc raised its holdings in shares of Immunocore by 490.5% during the third quarter. Polar Capital Holdings Plc now owns 250,000 shares of the company’s stock valued at $12,975,000 after purchasing an additional 207,664 shares during the period. 84.50% of the stock is currently owned by institutional investors.

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.