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

Needham & Company LLC restated their buy rating on shares of Immunocore (NASDAQ:IMCR - Free Report) in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has a $71.00 target price on the stock.

A number of other equities research analysts also recently weighed in on IMCR. HC Wainwright reiterated a "buy" rating and issued a $100.00 target price on shares of Immunocore in a report on Wednesday, March 12th. Mizuho reduced their price target on shares of Immunocore from $38.00 to $33.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Finally, Morgan Stanley reiterated an "equal weight" rating and set a $35.00 price objective on shares of Immunocore in a report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $63.73.

Immunocore Trading Up 1.4 %

Shares of NASDAQ:IMCR traded up $0.37 during midday trading on Thursday, hitting $27.29. 166,465 shares of the stock were exchanged, compared to its average volume of 441,577. The business's 50-day moving average price is $28.86 and its 200 day moving average price is $30.46. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of -28.73 and a beta of 0.75. Immunocore has a 12 month low of $23.15 and a 12 month high of $62.74. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.76 and a current ratio of 3.78.

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Insiders Place Their Bets

In other news, Director Bros. Advisors Lp Baker acquired 807,338 shares of the business's stock in a transaction dated Monday, March 17th. The stock was bought at an average cost of $29.72 per share, for a total transaction of $23,994,085.36. Following the completion of the transaction, the director now owns 2,144,060 shares of the company's stock, valued at $63,721,463.20. The trade was a 60.40 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 9.10% of the company's stock.

Institutional Trading of Immunocore

Institutional investors and hedge funds have recently modified their holdings of the business. GF Fund Management CO. LTD. purchased a new stake in Immunocore in the fourth quarter valued at approximately $25,000. China Universal Asset Management Co. Ltd. increased its stake in Immunocore by 12.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,393 shares of the company's stock valued at $248,000 after acquiring an additional 960 shares during the last quarter. NEOS Investment Management LLC lifted its stake in Immunocore by 10.9% during the fourth quarter. NEOS Investment Management LLC now owns 11,194 shares of the company's stock worth $330,000 after purchasing an additional 1,102 shares during the last quarter. Tema Etfs LLC purchased a new position in shares of Immunocore in the 4th quarter worth about $330,000. Finally, Virtus ETF Advisers LLC boosted its holdings in shares of Immunocore by 39.0% in the 4th quarter. Virtus ETF Advisers LLC now owns 11,536 shares of the company's stock worth $340,000 after purchasing an additional 3,238 shares in the last quarter. Hedge funds and other 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.