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

Needham & Company LLC reissued their buy rating on shares of Immunocore (NASDAQ:IMCR) in a research note published on Friday morning, Benzinga reports. They currently have a $81.00 price objective on the stock.

Several other brokerages have also recently commented on IMCR. Guggenheim reiterated a buy rating and issued a $92.00 target price on shares of Immunocore in a report on Tuesday, April 23rd. Mizuho lowered their price objective on shares of Immunocore from $90.00 to $88.00 and set a buy rating on the stock in a research note on Monday, May 13th. SVB Leerink began coverage on shares of Immunocore in a research note on Monday, April 29th. They set an outperform rating and a $74.00 price target on the stock. Oppenheimer reiterated an outperform rating and set a $87.00 price target (up previously from $85.00) on shares of Immunocore in a research note on Thursday, February 29th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Immunocore from $60.00 to $70.00 and gave the company an overweight rating in a research note on Wednesday, March 20th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Immunocore presently has an average rating of Moderate Buy and a consensus price target of $81.85.

Immunocore Price Performance

IMCR traded down $1.93 during trading on Friday, hitting $46.05. 5,140,250 shares of the company’s stock were exchanged, compared to its average volume of 656,852. The stock has a 50 day moving average price of $58.46 and a 200 day moving average price of $61.88. The company has a debt-to-equity ratio of 1.22, a current ratio of 5.96 and a quick ratio of 5.94. Immunocore has a 1 year low of $41.01 and a 1 year high of $76.98.

Immunocore (NASDAQ:IMCR) last issued its earnings results on Wednesday, May 8th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.12). Immunocore had a negative return on equity of 16.54% and a negative net margin of 22.60%. The business had revenue of $70.30 million for the quarter, compared to analyst estimates of $70.72 million. During the same period last year, the company posted ($0.35) earnings per share. The firm’s revenue for the quarter was up 27.6% on a year-over-year basis. Sell-side analysts expect that Immunocore will post -1.88 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Exchange Traded Concepts LLC lifted its stake in shares of Immunocore by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 2,656 shares of the company’s stock worth $181,000 after acquiring an additional 674 shares during the period. JGP Global Gestao de Recursos Ltda. purchased a new position in shares of Immunocore during the 4th quarter valued at $230,000. NEOS Investment Management LLC purchased a new stake in Immunocore during the 4th quarter worth about $262,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of Immunocore by 366.5% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,900 shares of the company’s stock valued at $266,000 after acquiring an additional 3,064 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in shares of Immunocore by 26.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 7,491 shares of the company’s stock valued at $389,000 after purchasing an additional 1,572 shares during the last quarter. Institutional investors own 84.50% of the company’s stock.

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.