Needham & Company LLC Trims Immunocore (NASDAQ:IMCR) Target Price to $78.00

Immunocore (NASDAQ:IMCR) had its target price reduced by Needham & Company LLC from $81.00 to $78.00 in a report issued on Tuesday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Other equities analysts also recently issued reports about the stock. HC Wainwright restated a buy rating and set a $100.00 price objective on shares of Immunocore in a research note on Tuesday. Oppenheimer restated an outperform rating and issued a $89.00 price target (up from $87.00) on shares of Immunocore in a research note on Friday, August 9th. Barclays cut their price objective on Immunocore from $92.00 to $66.00 and set an overweight rating for the company in a report on Friday, August 9th. Cantor Fitzgerald restated an overweight rating on shares of Immunocore in a report on Monday, September 9th. Finally, JPMorgan Chase & Co. cut their price target 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 equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $80.40.

Immunocore Stock Up 2.7 %

NASDAQ:IMCR opened at $33.90 on Tuesday. The stock has a 50-day simple moving average of $37.14 and a 200 day simple moving average of $46.90. Immunocore has a 52-week low of $32.37 and a 52-week high of $76.98. The company has a market cap of $1.70 billion, a PE ratio of -27.79 and a beta of 0.73. The company has a debt-to-equity ratio of 1.31, a quick ratio of 5.15 and a current ratio of 5.17.

Immunocore (NASDAQ:IMCR) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.25. Immunocore had a negative net margin of 19.16% and a negative return on equity of 14.68%. The company had revenue of $75.40 million for the quarter, compared to the consensus estimate of $74.58 million. During the same period last year, the company earned ($0.37) earnings per share. The firm’s revenue was up 26.2% compared to the same quarter last year. On average, sell-side analysts expect that Immunocore will post -1.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IMCR. Robeco Institutional Asset Management B.V. bought a new stake in shares of Immunocore during the fourth quarter worth approximately $5,064,000. Trexquant Investment LP lifted its holdings in Immunocore by 6.5% during the 4th quarter. Trexquant Investment LP now owns 28,545 shares of the company’s stock worth $1,950,000 after purchasing an additional 1,746 shares during the last quarter. Assetmark Inc. boosted its stake in Immunocore by 63.3% in the 4th quarter. Assetmark Inc. now owns 17,980 shares of the company’s stock valued at $1,228,000 after purchasing an additional 6,969 shares during the period. Hsbc Holdings PLC acquired a new position in Immunocore in the 4th quarter valued at $4,450,000. Finally, TD Asset Management Inc increased its position in Immunocore by 14.9% during the 4th quarter. TD Asset Management Inc now owns 346,930 shares of the company’s stock worth $23,702,000 after buying an additional 45,010 shares during the period. 84.50% of the stock is 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.