Immunocore (NASDAQ:IMCR) Rating Reiterated by Needham & Company LLC

Immunocore (NASDAQ:IMCR)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a note issued to investors on Friday, Benzinga reports. They currently have a $81.00 price target on the stock. Needham & Company LLC’s target price suggests a potential upside of 117.74% from the stock’s current price.

A number of other brokerages also recently issued reports on IMCR. SVB Leerink began coverage on Immunocore in a research report on Monday, April 29th. They set an “outperform” rating and a $74.00 price target for the company. HC Wainwright reiterated a “buy” rating and set a $100.00 price target on shares of Immunocore in a research report on Wednesday, June 5th. JPMorgan Chase & Co. dropped their price target on Immunocore from $70.00 to $66.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Mizuho dropped their price target on Immunocore from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Monday, May 13th. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of Immunocore in a research report on Monday, April 29th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Immunocore presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.83.

Immunocore Price Performance

IMCR traded down $0.72 during trading on Friday, reaching $37.20. 264,234 shares of the company were exchanged, compared to its average volume of 590,966. The company’s 50-day moving average is $38.43 and its two-hundred day moving average is $53.87. The company has a market cap of $1.86 billion, a price-to-earnings ratio of -30.49 and a beta of 0.75. The company has a quick ratio of 5.94, a current ratio of 5.96 and a debt-to-equity ratio of 1.22. Immunocore has a 12-month low of $33.04 and a 12-month high of $76.98.

Immunocore (NASDAQ:IMCR) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.22. Immunocore had a negative return on equity of 16.54% and a negative net margin of 22.60%. The business had revenue of $75.40 million for the quarter, compared to analysts’ expectations of $74.58 million. During the same quarter in the prior year, the firm posted ($0.37) EPS. The firm’s quarterly revenue was up 26.2% on a year-over-year basis. Research analysts forecast that Immunocore will post -1.98 earnings per share for the current fiscal year.

Institutional Trading of Immunocore

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its position in Immunocore by 10.2% in 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 during the last quarter. Primecap Management Co. CA increased its stake in shares of Immunocore by 3,841.6% during the second quarter. Primecap Management Co. CA now owns 1,951,070 shares of the company’s stock valued at $66,122,000 after buying an additional 1,901,570 shares during the period. Bellevue Group AG increased its stake in shares of Immunocore by 4,817.1% during the fourth quarter. Bellevue Group AG now owns 976,054 shares of the company’s stock valued at $66,684,000 after buying an additional 956,204 shares during the period. Fiera Capital Corp increased its stake in shares of Immunocore by 1.1% during the second quarter. Fiera Capital Corp now owns 875,593 shares of the company’s stock valued at $29,674,000 after buying an additional 9,181 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Immunocore by 14.5% during the second quarter. Renaissance Technologies LLC now owns 646,920 shares of the company’s stock valued at $21,924,000 after buying an additional 82,120 shares during the period. 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.