Needham & Company LLC Lowers Immunocore (NASDAQ:IMCR) Price Target to $71.00

Immunocore (NASDAQ:IMCR - Free Report) had its target price trimmed by Needham & Company LLC from $78.00 to $71.00 in a report published on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts also recently weighed in on IMCR. UBS Group assumed coverage on Immunocore in a research report on Thursday, October 24th. They issued a "sell" rating and a $24.00 target price for the company. Guggenheim lowered Immunocore from a "buy" rating to a "neutral" rating in a research note on Monday, October 7th. HC Wainwright reissued a "buy" rating and issued a $100.00 price target on shares of Immunocore in a research note on Thursday, October 24th. Oppenheimer reaffirmed an "outperform" rating and set a $89.00 price objective (up from $87.00) on shares of Immunocore in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Immunocore from $70.00 to $66.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $73.73.

Immunocore Stock Performance

IMCR stock traded up $1.19 during midday trading on Thursday, reaching $34.70. The company had a trading volume of 168,360 shares, compared to its average volume of 527,179. The company has a quick ratio of 5.15, a current ratio of 5.17 and a debt-to-equity ratio of 1.31. The stock has a 50 day moving average price of $32.67 and a 200 day moving average price of $39.70. The firm has a market capitalization of $1.74 billion, a PE ratio of -32.14 and a beta of 0.72. Immunocore has a fifty-two week low of $29.72 and a fifty-two week 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 for the quarter, topping the consensus estimate of ($0.33) by $0.50. Immunocore had a negative return on equity of 14.68% and a negative net margin of 19.16%. The firm had revenue of $80.25 million for the quarter, compared to analyst estimates of $78.94 million. During the same period last year, the company earned ($0.59) earnings per share. The firm's revenue for the quarter was up 23.7% on a year-over-year basis. Analysts anticipate that Immunocore will post -1.71 earnings per share for the current year.

Institutional Investors Weigh In On Immunocore

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Exchange Traded Concepts LLC raised its position in shares of Immunocore by 40.4% in the third quarter. Exchange Traded Concepts LLC now owns 5,075 shares of the company's stock valued at $158,000 after purchasing an additional 1,461 shares during the period. Connective Portfolio Management LLC bought a new stake in shares of Immunocore during the 3rd quarter valued at about $218,000. China Universal Asset Management Co. Ltd. raised its position in shares of Immunocore by 69.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,433 shares of the company's stock worth $231,000 after acquiring an additional 3,053 shares in the last quarter. DNB Asset Management AS increased its stake in shares of Immunocore by 35.0% in the 2nd quarter. DNB Asset Management AS now owns 7,211 shares of the company's stock worth $244,000 after acquiring an additional 1,868 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Immunocore in the second quarter worth $303,000. 84.50% of the stock is 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.