Needham & Company LLC Reiterates “Buy” Rating for Immunocore (NASDAQ:IMCR)

Immunocore (NASDAQ:IMCR)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research report issued on Friday, Benzinga reports. They currently have a $81.00 price target on the stock. Needham & Company LLC’s price target would indicate a potential upside of 117.74% from the company’s previous close.

Several other research analysts have also weighed in on IMCR. Mizuho decreased their price objective on shares of Immunocore from $90.00 to $88.00 and set a “buy” rating for the company in a report on Monday, May 13th. Leerink Partnrs reaffirmed an “outperform” rating on shares of Immunocore in a report on Monday, April 29th. Guggenheim reaffirmed a “buy” rating and issued a $92.00 price target on shares of Immunocore in a report on Tuesday, April 23rd. SVB Leerink started coverage on shares of Immunocore in a report on Monday, April 29th. They issued an “outperform” rating and a $74.00 price target for the company. Finally, JPMorgan Chase & Co. reduced their target price on shares of Immunocore from $70.00 to $66.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Immunocore has a consensus rating of “Moderate Buy” and a consensus target price of $81.83.

Immunocore Trading Down 1.9 %

Shares of Immunocore stock traded down $0.72 during trading hours on Friday, hitting $37.20. The company’s stock had a trading volume of 264,234 shares, compared to its average volume of 590,966. The business has a fifty day moving average of $38.43 and a 200 day moving average of $53.87. Immunocore has a 1-year low of $33.04 and a 1-year high of $76.98. The company has a quick ratio of 5.94, a current ratio of 5.96 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $1.86 billion, a PE ratio of -30.49 and a beta of 0.75.

Immunocore (NASDAQ:IMCR) last issued its earnings results on Thursday, August 8th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.22. Immunocore had a negative net margin of 22.60% and a negative return on equity of 16.54%. The business had revenue of $75.40 million for the quarter, compared to the consensus estimate of $74.58 million. During the same quarter last year, the firm posted ($0.37) EPS. The business’s revenue for the quarter was up 26.2% compared to the same quarter last year. As a group, equities analysts forecast that Immunocore will post -1.98 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in IMCR. DNB Asset Management AS grew its position in Immunocore by 35.0% during the second quarter. DNB Asset Management AS now owns 7,211 shares of the company’s stock valued at $244,000 after purchasing an additional 1,868 shares in the last quarter. NEOS Investment Management LLC purchased a new position in Immunocore during the fourth quarter valued at approximately $262,000. Tidal Investments LLC purchased a new position in Immunocore during the first quarter valued at approximately $423,000. China Universal Asset Management Co. Ltd. grew 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 purchasing an additional 2,721 shares in the last quarter. Finally, Nan Fung Group Holdings Ltd purchased a new position in Immunocore during the first quarter valued at approximately $439,000. 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.