Immunocore's (IMCR) "Buy" Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Immunocore (NASDAQ:IMCR - Free Report) in a research report released on Friday morning,Benzinga reports. The firm currently has a $71.00 target price on the stock.

IMCR has been the subject of several other reports. HC Wainwright reissued a "buy" rating and set a $100.00 target price on shares of Immunocore in a research report on Thursday, October 24th. Mizuho lowered Immunocore from an "outperform" rating to a "neutral" rating and decreased their price objective for the stock from $72.00 to $38.00 in a report on Monday, November 11th. Guggenheim lowered Immunocore from a "buy" rating to a "neutral" rating in a report on Monday, October 7th. Morgan Stanley reiterated an "equal weight" rating and set a $35.00 price target (down previously from $74.00) on shares of Immunocore in a report on Friday, December 13th. Finally, UBS Group began coverage on shares of Immunocore in a research report on Thursday, October 24th. They set a "sell" rating and a $24.00 target price on the stock. One equities research 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $65.64.

Immunocore Stock Up 0.6 %

Immunocore stock traded up $0.17 during midday trading on Friday, reaching $30.40. The stock had a trading volume of 312,983 shares, compared to its average volume of 240,630. The company has a fifty day moving average price of $31.16 and a two-hundred day moving average price of $33.77. The company has a market capitalization of $1.52 billion, a P/E ratio of -32.00 and a beta of 0.76. The company has a current ratio of 3.78, a quick ratio of 3.76 and a debt-to-equity ratio of 1.03. Immunocore has a 12 month low of $27.69 and a 12 month high of $76.98.

Immunocore (NASDAQ:IMCR - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.33) by $0.50. The company had revenue of $80.25 million for the quarter, compared to analysts' expectations of $78.94 million. Immunocore had a negative return on equity of 12.84% and a negative net margin of 15.87%. Immunocore's quarterly revenue was up 23.7% compared to the same quarter last year. During the same period last year, the business earned ($0.59) EPS. As a group, equities analysts expect that Immunocore will post -0.94 EPS for the current fiscal year.

Institutional Trading of Immunocore

Several hedge funds have recently made changes to their positions in IMCR. Envestnet Asset Management Inc. raised its stake in Immunocore by 0.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 70,571 shares of the company's stock valued at $2,392,000 after acquiring an additional 606 shares during the period. Pier Capital LLC raised its position in shares of Immunocore by 1.4% in the third quarter. Pier Capital LLC now owns 82,480 shares of the company's stock valued at $2,568,000 after purchasing an additional 1,174 shares during the period. Exchange Traded Concepts LLC lifted its stake in shares of Immunocore by 40.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 5,075 shares of the company's stock valued at $158,000 after buying an additional 1,461 shares in the last quarter. Assetmark Inc. grew its stake in Immunocore by 6.5% in the 3rd quarter. Assetmark Inc. now owns 30,555 shares of the company's stock valued at $951,000 after buying an additional 1,878 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its holdings in Immunocore by 69.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,433 shares of the company's stock valued at $231,000 after acquiring an additional 3,053 shares during the period. 84.50% of the stock is currently owned by institutional investors.

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.