Needham & Company LLC Increases Immunocore (NASDAQ:IMCR) Price Target to $75.00

Immunocore (NASDAQ:IMCR) had its price target increased by research analysts at Needham & Company LLC from $71.00 to $75.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s target price points to a potential upside of 132.20% from the company’s current price.

A number of other research firms have also issued reports on IMCR. Mizuho set a $38.00 price objective on Immunocore in a research note on Thursday, February 19th. Zacks Research upgraded Immunocore from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 7th. Wall Street Zen downgraded shares of Immunocore from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Immunocore in a research note on Thursday, January 22nd. Finally, Wells Fargo & Company started coverage on shares of Immunocore in a research note on Friday, October 31st. They issued an “overweight” rating and a $60.00 target price on the stock. Eight analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $61.30.

Immunocore Trading Up 0.8%

NASDAQ IMCR opened at $32.30 on Thursday. The business’s fifty day moving average is $33.47 and its 200-day moving average is $34.32. The company has a debt-to-equity ratio of 0.99, a current ratio of 6.00 and a quick ratio of 5.97. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of -46.14 and a beta of 0.78. Immunocore has a one year low of $23.15 and a one year high of $40.71.

Immunocore (NASDAQ:IMCR) last posted its quarterly earnings results on Wednesday, February 25th. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.32). The company had revenue of $104.48 million during the quarter, compared to the consensus estimate of $145.48 million. Immunocore had a negative return on equity of 9.16% and a negative net margin of 8.88%.The company’s revenue for the quarter was up 24.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.47) EPS. Equities research analysts predict that Immunocore will post -0.94 EPS for the current year.

Insiders Place Their Bets

In other news, insider Leger Tina Amber St sold 1,000 shares of the company’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $32.35, for a total value of $32,350.00. Following the completion of the transaction, the insider directly owned 1,119 shares in the company, valued at approximately $36,199.65. This represents a 47.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Bahija Jallal sold 11,474 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $32.35, for a total value of $371,183.90. Following the transaction, the chief executive officer directly owned 12,343 shares in the company, valued at approximately $399,296.05. This represents a 48.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 19,137 shares of company stock valued at $619,082 over the last 90 days. Insiders own 10.40% of the company’s stock.

Institutional Trading of Immunocore

Several hedge funds have recently added to or reduced their stakes in IMCR. Royal Bank of Canada increased its holdings in shares of Immunocore by 45.1% in the first quarter. Royal Bank of Canada now owns 44,011 shares of the company’s stock worth $1,306,000 after buying an additional 13,689 shares during the period. State of New Jersey Common Pension Fund D bought a new position in shares of Immunocore in the second quarter worth approximately $292,000. Y Intercept Hong Kong Ltd bought a new position in shares of Immunocore in the second quarter worth approximately $1,621,000. Assetmark Inc. increased its stake in shares of Immunocore by 3.7% in the second quarter. Assetmark Inc. now owns 34,958 shares of the company’s stock worth $1,097,000 after buying an additional 1,248 shares during the period. Finally, Fox Run Management L.L.C. bought a new stake in Immunocore during the 2nd quarter valued at $372,000. 84.50% of the stock is owned by institutional investors.

Immunocore Company Profile

Immunocore plc is a clinical‐stage biotechnology company focused on the development of novel immunotherapies that harness the body’s own T‐cell response to treat cancer and infectious diseases. The company’s proprietary ImmTAC (immune mobilising monoclonal T‐cell receptors against cancer) platform utilizes engineered, soluble T‐cell receptor (TCR) molecules designed to recognise intracellular peptide–HLA complexes. By redirecting and activating T cells against disease‐associated targets, Immunocore aims to address malignancies and persistent viral infections with high unmet medical need.

The company’s most advanced candidate, tebentafusp, is a bispecific ImmTAC molecule that targets gp100, a melanoma‐associated antigen, and has received regulatory approval for the treatment of metastatic uveal melanoma.