Immunocore (NASDAQ:IMCR) Receives Buy Rating from Needham & Company LLC

Immunocore (NASDAQ:IMCR)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a research note issued to investors on Friday,Benzinga reports. They presently have a $71.00 price objective on the stock. Needham & Company LLC’s price target would indicate a potential upside of 136.19% from the company’s previous close.

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

Immunocore Trading Down 0.6 %

Shares of Immunocore stock traded down $0.17 during trading on Friday, reaching $30.06. 96,862 shares of the stock were exchanged, compared to its average volume of 198,855. Immunocore has a 1 year low of $27.69 and a 1 year high of $76.98. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -31.64 and a beta of 0.76. The company has a quick ratio of 3.76, a current ratio of 3.78 and a debt-to-equity ratio of 1.03. The stock’s fifty day moving average is $31.19 and its 200 day moving average is $33.80.

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

Hedge Funds Weigh In On Immunocore

A number of institutional investors and hedge funds have recently modified their holdings of the company. Envestnet Asset Management Inc. raised its position in Immunocore by 0.9% in the second quarter. Envestnet Asset Management Inc. now owns 70,571 shares of the company’s stock worth $2,392,000 after acquiring an additional 606 shares during the period. Pier Capital LLC raised its holdings in Immunocore by 1.4% in the 3rd quarter. Pier Capital LLC now owns 82,480 shares of the company’s stock worth $2,568,000 after purchasing an additional 1,174 shares during the period. Exchange Traded Concepts LLC lifted its position in Immunocore by 40.4% during the third 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 in the last quarter. Assetmark Inc. lifted its position in Immunocore by 6.5% during the third quarter. Assetmark Inc. now owns 30,555 shares of the company’s stock valued at $951,000 after purchasing an additional 1,878 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its holdings in Immunocore by 69.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 7,433 shares of the company’s stock valued at $231,000 after purchasing an additional 3,053 shares during the period. 84.50% of the stock is currently owned by hedge funds and other institutional investors.

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.