Immunocore (NASDAQ:IMCR) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Immunocore (NASDAQ:IMCR) in a report issued on Friday,Benzinga reports. They currently have a $71.00 price objective on the stock.

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

Immunocore Trading Up 0.6 %

IMCR opened at $30.40 on Friday. Immunocore has a 1-year low of $27.69 and a 1-year high of $76.98. The firm has a 50-day moving average price of $31.16 and a two-hundred day moving average price of $33.77. The stock has a market capitalization of $1.52 billion, a PE ratio of -32.00 and a beta of 0.76. The company has a current ratio of 3.78, a quick ratio of 3.76 and a debt-to-equity ratio of 1.03.

Immunocore (NASDAQ:IMCR) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.50. The firm had revenue of $80.25 million for the quarter, compared to the consensus estimate of $78.94 million. Immunocore had a negative return on equity of 12.84% and a negative net margin of 15.87%. The business’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.59) EPS. As a group, equities analysts anticipate that Immunocore will post -0.94 earnings per share for the current fiscal year.

Institutional Trading of Immunocore

Hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP increased its position in shares of Immunocore by 10.5% during 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 increased its holdings in Immunocore by 0.5% during the 3rd 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 in the last quarter. Primecap Management Co. CA raised its stake 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 valued at $76,954,000 after purchasing an additional 520,950 shares during the period. Bellevue Group AG lifted its holdings in shares of Immunocore by 4.4% in the third 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 in the last quarter. Finally, Armistice Capital LLC lifted its holdings in shares of Immunocore by 495.1% in the second quarter. Armistice Capital LLC now owns 976,000 shares of the company’s stock valued at $33,077,000 after purchasing an additional 812,000 shares in the last quarter. 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.