Immunocore (NASDAQ:IMCR) Given New $75.00 Price Target at Needham & Company LLC

Immunocore (NASDAQ:IMCR) had its price objective boosted by research analysts at Needham & Company LLC from $71.00 to $75.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 133.21% from the company’s previous close.

IMCR has been the subject of several other research reports. Mizuho set a $38.00 price target on shares of Immunocore in a research report on Thursday, February 19th. Wells Fargo & Company began coverage on Immunocore in a research note on Friday, October 31st. They issued an “overweight” rating and a $60.00 price objective for the company. Morgan Stanley upped their target price on shares of Immunocore from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, November 10th. Zacks Research upgraded shares of Immunocore from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 7th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Immunocore in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.30.

Immunocore Stock Down 4.5%

NASDAQ:IMCR opened at $32.16 on Thursday. Immunocore has a 52 week low of $23.15 and a 52 week high of $40.71. The stock’s fifty day moving average is $33.62 and its two-hundred day moving average is $34.33. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of -56.42 and a beta of 0.78. The company has a quick ratio of 5.97, a current ratio of 6.00 and a debt-to-equity ratio of 0.99.

Immunocore (NASDAQ:IMCR) last announced its earnings results on Wednesday, February 25th. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.32). Immunocore had a negative net margin of 7.70% and a negative return on equity of 7.67%. The firm had revenue of $104.48 million for the quarter, compared to analysts’ expectations of $145.48 million. During the same quarter last year, the business earned ($0.47) earnings per share. The business’s revenue was up 24.3% compared to the same quarter last year. Research analysts anticipate that Immunocore will post -0.94 EPS for the current year.

Insider Activity at Immunocore

In other news, insider David M. Berman sold 5,965 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $32.35, for a total transaction of $192,967.75. Following the transaction, the insider directly owned 5,859 shares in the company, valued at approximately $189,538.65. This trade represents a 50.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Leger Tina Amber St sold 1,000 shares of Immunocore stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $32.35, for a total transaction of $32,350.00. Following the completion of the transaction, the insider directly owned 1,119 shares in the company, valued at $36,199.65. The trade was a 47.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 19,137 shares of company stock valued at $619,082 in the last three months. 10.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Y Intercept Hong Kong Ltd acquired a new stake in shares of Immunocore during the second quarter worth about $1,621,000. Acadian Asset Management LLC increased its position in Immunocore by 392.3% in the 2nd quarter. Acadian Asset Management LLC now owns 90,798 shares of the company’s stock valued at $2,843,000 after acquiring an additional 72,355 shares during the period. Eschler Asset Management LLP purchased a new stake in Immunocore during the 2nd quarter valued at approximately $1,255,000. Frazier Life Sciences Management L.P. raised its stake in Immunocore by 27.8% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 384,782 shares of the company’s stock valued at $12,074,000 after acquiring an additional 83,612 shares during the last quarter. Finally, Fiera Capital Corp lifted its position in Immunocore by 1.0% during the 2nd quarter. Fiera Capital Corp now owns 813,074 shares of the company’s stock worth $25,514,000 after acquiring an additional 7,924 shares during the period. 84.50% of the stock is owned by hedge funds and other institutional investors.

About Immunocore

Immunocore plc is a clinical‐stage biotechnology company focused on the development of novel immunotherapies that harness the body’s own T‐cell response to treat cancer and infectious diseases. The company’s proprietary ImmTAC (immune mobilising monoclonal T‐cell receptors against cancer) platform utilizes engineered, soluble T‐cell receptor (TCR) molecules designed to recognise intracellular peptide–HLA complexes. By redirecting and activating T cells against disease‐associated targets, Immunocore aims to address malignancies and persistent viral infections with high unmet medical need.

The company’s most advanced candidate, tebentafusp, is a bispecific ImmTAC molecule that targets gp100, a melanoma‐associated antigen, and has received regulatory approval for the treatment of metastatic uveal melanoma.