Needham & Company LLC Reiterates Buy Rating for Immunocore (NASDAQ:IMCR)

Immunocore (NASDAQ:IMCR)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a report released on Wednesday,Benzinga reports. They currently have a $71.00 target price on the stock. Needham & Company LLC’s price target suggests a potential upside of 151.15% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Morgan Stanley restated an “equal weight” rating and set a $35.00 price target on shares of Immunocore in a research note on Friday, March 7th. HC Wainwright reiterated a “buy” rating and issued a $100.00 target price on shares of Immunocore in a research note on Wednesday. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $65.64.

Immunocore Stock Down 2.7 %

Shares of IMCR stock opened at $28.27 on Wednesday. The stock’s fifty day moving average price is $30.10 and its 200 day moving average price is $31.43. Immunocore has a 1-year low of $27.19 and a 1-year high of $66.00. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -29.76 and a beta of 0.79. The company has a debt-to-equity ratio of 1.03, a current ratio of 3.78 and a quick ratio of 3.76.

Hedge Funds Weigh In On Immunocore

A number of institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP grew its holdings in Immunocore by 10.5% during the third quarter. Wellington Management Group LLP now owns 7,048,833 shares of the company’s stock worth $219,430,000 after acquiring an additional 668,382 shares during the period. Groupama Asset Managment purchased a new stake in Immunocore in the 4th quarter worth approximately $17,700,000. Primecap Management Co. CA increased its holdings in shares of Immunocore by 26.7% during the 3rd quarter. Primecap Management Co. CA now owns 2,472,020 shares of the company’s stock valued at $76,954,000 after purchasing an additional 520,950 shares in the last quarter. Deep Track Capital LP acquired a new position in shares of Immunocore in the 4th quarter valued at $15,322,000. Finally, Tang Capital Management LLC increased its holdings in Immunocore by 40.7% in the fourth quarter. Tang Capital Management LLC now owns 1,555,600 shares of the company’s stock valued at $45,890,000 after buying an additional 450,000 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.