Canaccord Genuity Group Raises Immunocore (NASDAQ:IMCR) Price Target to $67.00

Immunocore (NASDAQ:IMCR) had its target price lifted by equities research analysts at Canaccord Genuity Group from $63.00 to $67.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 11.95% from the stock’s previous close.

IMCR has been the topic of a number of other research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $81.00 target price on shares of Immunocore in a report on Thursday. JPMorgan Chase & Co. increased their price objective on Immunocore from $60.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. SVB Leerink began coverage on Immunocore in a research note on Monday, April 29th. They issued an “outperform” rating and a $74.00 target price on the stock. Leerink Partnrs reiterated an “outperform” rating on shares of Immunocore in a research report on Monday, April 29th. Finally, Guggenheim restated a “buy” rating and issued a $92.00 price objective on shares of Immunocore in a research report on Tuesday, April 23rd. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Immunocore presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.00.

Immunocore Stock Performance

Shares of Immunocore stock traded down $1.47 during mid-day trading on Thursday, hitting $59.85. 540,493 shares of the stock were exchanged, compared to its average volume of 475,137. The company has a market capitalization of $2.98 billion, a P/E ratio of -51.46 and a beta of 0.92. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.77 and a current ratio of 3.80. The company has a 50-day simple moving average of $60.76 and a 200 day simple moving average of $61.33. Immunocore has a 12 month low of $42.21 and a 12 month high of $76.98.

Immunocore (NASDAQ:IMCR) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.12). The business had revenue of $70.30 million during the quarter, compared to the consensus estimate of $70.72 million. Immunocore had a negative net margin of 22.48% and a negative return on equity of 15.78%. The firm’s revenue for the quarter was up 27.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.35) EPS. Sell-side analysts anticipate that Immunocore will post -1.55 earnings per share for the current fiscal year.

Institutional Trading of Immunocore

Several institutional investors have recently added to or reduced their stakes in IMCR. Bellevue Group AG lifted its stake in shares of Immunocore by 4,817.1% in the 4th quarter. Bellevue Group AG now owns 976,054 shares of the company’s stock valued at $66,684,000 after acquiring an additional 956,204 shares during the last quarter. Braidwell LP boosted its stake in shares of Immunocore by 93.8% during the third quarter. Braidwell LP now owns 906,973 shares of the company’s stock valued at $47,072,000 after purchasing an additional 438,946 shares during the period. Wellington Management Group LLP grew its holdings in shares of Immunocore by 10.2% in the fourth quarter. Wellington Management Group LLP now owns 4,312,611 shares of the company’s stock worth $294,638,000 after purchasing an additional 399,201 shares during the last quarter. First Turn Management LLC purchased a new position in shares of Immunocore in the fourth quarter worth $23,439,000. Finally, Polar Capital Holdings Plc boosted its position in Immunocore by 490.5% during the 3rd quarter. Polar Capital Holdings Plc now owns 250,000 shares of the company’s stock valued at $12,975,000 after buying an additional 207,664 shares during the period. 84.50% of the stock is currently owned by hedge funds and other 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.