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 research report sent to investors on Friday morning,Benzinga reports. They currently have a $71.00 price target on the stock.

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

Immunocore Stock Performance

NASDAQ 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 market capitalization of $1.52 billion, a price-to-earnings 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. The firm’s 50 day simple moving average is $31.16 and its 200 day simple moving average is $33.75.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of IMCR. Exchange Traded Concepts LLC increased its position in shares of Immunocore by 40.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 5,075 shares of the company’s stock valued at $158,000 after purchasing an additional 1,461 shares during the last quarter. Connective Portfolio Management LLC purchased a new stake in Immunocore during the third quarter worth about $218,000. China Universal Asset Management Co. Ltd. raised its position in Immunocore by 69.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 7,433 shares of the company’s stock worth $231,000 after acquiring an additional 3,053 shares during the period. XTX Topco Ltd purchased a new position in Immunocore in the second quarter valued at about $303,000. Finally, GSA Capital Partners LLP bought a new position in shares of Immunocore during the 3rd quarter valued at approximately $406,000. Hedge funds and other institutional investors own 84.50% of the company’s stock.

Immunocore Company Profile

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.