Immunocore Holdings plc (NASDAQ:IMCR) Receives $80.70 Consensus Target Price from Brokerages

Shares of Immunocore Holdings plc (NASDAQ:IMCR) have received a consensus rating of “Moderate Buy” from the twelve analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $80.70.

IMCR has been the subject of a number of research reports. 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 report on Wednesday, July 10th. Barclays reduced their price objective on Immunocore from $92.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Mizuho lowered their target price on Immunocore from $90.00 to $88.00 and set a “buy” rating on the stock in a research report on Monday, May 13th. Canaccord Genuity Group upped their price target on Immunocore from $63.00 to $67.00 and gave the stock a “hold” rating in a research report on Thursday, May 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $81.00 price objective on shares of Immunocore in a research report on Friday, August 9th.

Immunocore Stock Performance

IMCR stock opened at $36.34 on Monday. The company has a market cap of $1.82 billion, a P/E ratio of -29.79 and a beta of 0.75. The company has a debt-to-equity ratio of 1.31, a current ratio of 5.17 and a quick ratio of 5.15. Immunocore has a 1 year low of $33.04 and a 1 year high of $76.98. The stock’s fifty day moving average price is $37.56 and its 200-day moving average price is $49.31.

Immunocore (NASDAQ:IMCR) last announced its earnings results on Thursday, August 8th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.25. Immunocore had a negative return on equity of 14.68% and a negative net margin of 19.16%. The business had revenue of $75.40 million for the quarter, compared to analysts’ expectations of $74.58 million. During the same period last year, the firm posted ($0.37) earnings per share. The business’s revenue for the quarter was up 26.2% on a year-over-year basis. On average, equities analysts forecast that Immunocore will post -1.79 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Primecap Management Co. CA lifted its holdings in shares of Immunocore by 3,841.6% in the second quarter. Primecap Management Co. CA now owns 1,951,070 shares of the company’s stock worth $66,122,000 after buying an additional 1,901,570 shares in the last quarter. Bellevue Group AG lifted its stake in Immunocore by 4,817.1% in the 4th quarter. Bellevue Group AG now owns 976,054 shares of the company’s stock worth $66,684,000 after purchasing an additional 956,204 shares in the last quarter. Armistice Capital LLC boosted its holdings in shares of Immunocore by 495.1% during the 2nd 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 during the last quarter. Wellington Management Group LLP grew its position in shares of Immunocore by 10.2% during the fourth quarter. Wellington Management Group LLP now owns 4,312,611 shares of the company’s stock valued at $294,638,000 after purchasing an additional 399,201 shares in the last quarter. Finally, First Turn Management LLC bought a new stake in shares of Immunocore in the fourth quarter worth about $23,439,000. 84.50% of the stock is currently owned by 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.