Immunocore (NASDAQ:IMCR) Price Target Cut to $66.00 by Analysts at Barclays

Immunocore (NASDAQ:IMCR) had its price objective trimmed by Barclays from $92.00 to $66.00 in a research note published on Friday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other analysts also recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price 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. SVB Leerink began coverage on shares of Immunocore in a research report on Monday, April 29th. They set an outperform rating and a $74.00 price objective on the stock. HC Wainwright reissued a buy rating and set a $100.00 price objective on shares of Immunocore in a research report on Wednesday, June 5th. Needham & Company LLC reissued a buy rating and set a $81.00 price objective on shares of Immunocore in a research report on Friday. Finally, Leerink Partnrs reissued an outperform rating on shares of Immunocore in a research report on Monday, April 29th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $81.83.

Immunocore Stock Down 1.9 %

Shares of NASDAQ:IMCR traded down $0.72 during midday trading on Friday, reaching $37.20. The company’s stock had a trading volume of 264,234 shares, compared to its average volume of 590,966. The firm has a 50 day moving average of $38.43 and a 200-day moving average of $53.87. The firm has a market capitalization of $1.86 billion, a P/E ratio of -30.49 and a beta of 0.75. The company has a quick ratio of 5.94, a current ratio of 5.96 and a debt-to-equity ratio of 1.22. Immunocore has a 12-month low of $33.04 and a 12-month high of $76.98.

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

Hedge Funds Weigh In On Immunocore

Hedge funds and other institutional investors have recently bought and sold shares of the stock. DNB Asset Management AS lifted its stake in 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 acquiring an additional 1,868 shares during the period. NEOS Investment Management LLC bought a new position in shares of Immunocore in the 4th quarter worth approximately $262,000. Tidal Investments LLC bought a new position in shares of Immunocore in the 1st quarter worth approximately $423,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of Immunocore by 69.8% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,621 shares of the company’s stock worth $430,000 after purchasing an additional 2,721 shares during the period. Finally, Nan Fung Group Holdings Ltd bought a new position in shares of Immunocore in the 1st quarter worth approximately $439,000. 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.