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

Immunocore (NASDAQ:IMCR)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a research note issued to investors on Friday,Benzinga reports. They currently have a $71.00 target price on the stock. Needham & Company LLC’s target price indicates a potential upside of 133.55% from the stock’s current price.

IMCR has been the topic of a number of other reports. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 target price on shares of Immunocore in a report on Thursday, October 24th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $35.00 price objective (down previously from $74.00) on shares of Immunocore in a research note on Friday, December 13th. Guggenheim downgraded Immunocore from a “buy” rating to a “neutral” rating in a research note on Monday, October 7th. UBS Group initiated coverage on shares of Immunocore in a research note on Thursday, October 24th. They set a “sell” rating and a $24.00 target price on the stock. Finally, Mizuho lowered shares of Immunocore from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $72.00 to $38.00 in a research report on Monday, November 11th. 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $65.64.

Immunocore Price Performance

NASDAQ IMCR opened at $30.40 on Friday. The company has a 50-day moving average price of $31.16 and a 200-day moving average price of $33.75. Immunocore has a 52 week low of $27.69 and a 52 week high of $76.98. The company has a quick ratio of 3.76, a current ratio of 3.78 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $1.52 billion, a P/E ratio of -32.00 and a beta of 0.76.

Immunocore (NASDAQ:IMCR) last announced its earnings results on Wednesday, November 6th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.50. Immunocore had a negative net margin of 15.87% and a negative return on equity of 12.84%. The business had revenue of $80.25 million during the quarter, compared to analysts’ expectations of $78.94 million. During the same period in the prior year, the company earned ($0.59) earnings per share. The firm’s revenue was up 23.7% on a year-over-year basis. Equities research analysts anticipate that Immunocore will post -0.94 earnings per share for the current year.

Hedge Funds Weigh In On Immunocore

Several institutional investors have recently bought and sold shares of the stock. Primecap Management Co. CA boosted its position in shares of Immunocore by 3,841.6% during the 2nd quarter. Primecap Management Co. CA now owns 1,951,070 shares of the company’s stock valued at $66,122,000 after acquiring an additional 1,901,570 shares during the last quarter. Armistice Capital LLC raised its stake in Immunocore by 495.1% during the second quarter. Armistice Capital LLC now owns 976,000 shares of the company’s stock valued at $33,077,000 after purchasing an additional 812,000 shares in the last quarter. Wellington Management Group LLP raised its stake in Immunocore by 10.5% during the third quarter. Wellington Management Group LLP now owns 7,048,833 shares of the company’s stock valued at $219,430,000 after purchasing an additional 668,382 shares in the last quarter. Millennium Management LLC grew its stake in shares of Immunocore by 124.4% in the 2nd quarter. Millennium Management LLC now owns 600,954 shares of the company’s stock worth $20,366,000 after buying an additional 333,167 shares in the last quarter. Finally, Two Sigma Advisers LP grew its stake in shares of Immunocore by 65.6% in the 3rd quarter. Two Sigma Advisers LP now owns 757,700 shares of the company’s stock worth $23,587,000 after buying an additional 300,200 shares in the last quarter. 84.50% of the stock is owned by hedge funds and other 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.