Immunocore (NASDAQ:IMCR) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Immunocore (NASDAQ:IMCR - Free Report) in a research note issued to investors on Thursday morning,Benzinga reports. Needham & Company LLC currently has a $71.00 price objective on the stock.

Other analysts have also recently issued research reports about the company. HC Wainwright reaffirmed a "buy" rating and set a $100.00 target price on shares of Immunocore in a research report on Monday, January 27th. Mizuho downgraded shares of Immunocore from an "outperform" rating to a "neutral" rating and reduced their target price for the stock from $72.00 to $38.00 in a report on Monday, November 11th. Finally, Morgan Stanley reissued an "equal weight" rating and set a $35.00 price target (down from $74.00) on shares of Immunocore in a research report on Friday, December 13th. One 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 company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $65.64.

Immunocore Stock Down 1.7 %

Shares of NASDAQ IMCR traded down $0.49 during midday trading on Thursday, reaching $28.88. 150,906 shares of the company's stock traded hands, compared to its average volume of 227,225. The company has a market cap of $1.44 billion, a price-to-earnings ratio of -30.40 and a beta of 0.77. The stock's 50 day simple moving average is $30.08 and its 200-day simple moving average is $31.81. The company has a quick ratio of 3.76, a current ratio of 3.78 and a debt-to-equity ratio of 1.03. Immunocore has a one year low of $27.69 and a one year high of $68.43.

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Institutional Investors Weigh In On Immunocore

A number of large investors have recently bought and sold shares of IMCR. China Universal Asset Management Co. Ltd. lifted its stake 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. Principal Financial Group Inc. lifted its position in Immunocore by 25.0% during the third quarter. Principal Financial Group Inc. now owns 546,318 shares of the company's stock valued at $17,007,000 after purchasing an additional 109,206 shares during the period. Assetmark Inc. lifted its position in Immunocore by 6.5% during the third quarter. Assetmark Inc. now owns 30,555 shares of the company's stock valued at $951,000 after purchasing an additional 1,878 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in Immunocore during the 3rd quarter worth about $866,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Immunocore during the 3rd quarter valued at about $406,000. 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.