Morgan Stanley Reaffirms “Equal Weight” Rating for Immunocore (NASDAQ:IMCR)

Immunocore (NASDAQ:IMCR)‘s stock had its “equal weight” rating restated by equities research analysts at Morgan Stanley in a report issued on Friday,Benzinga reports. They presently have a $35.00 price target on the stock. Morgan Stanley’s price target would suggest a potential upside of 17.45% from the company’s current price.

Several other equities research analysts also recently weighed in on IMCR. Needham & Company LLC reaffirmed a “buy” rating and set a $71.00 target price on shares of Immunocore in a research note on Thursday, February 27th. Mizuho downgraded shares of Immunocore from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $72.00 to $38.00 in a research note on Monday, November 11th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $100.00 target price on shares of Immunocore in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $65.64.

Immunocore Price Performance

Shares of IMCR opened at $29.80 on Friday. Immunocore has a fifty-two week low of $27.69 and a fifty-two week high of $66.00. The firm’s 50 day moving average price is $30.16 and its 200 day moving average price is $31.60. The company has a market cap of $1.49 billion, a P/E ratio of -31.37 and a beta of 0.79. The company has a quick ratio of 3.76, a current ratio of 3.78 and a debt-to-equity ratio of 1.03.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Jefferies Financial Group Inc. purchased a new position in shares of Immunocore in the 4th quarter valued at $4,868,000. GF Fund Management CO. LTD. acquired a new stake in Immunocore during the 4th quarter worth $25,000. Woodline Partners LP boosted its stake in Immunocore by 19.4% during the 4th quarter. Woodline Partners LP now owns 328,059 shares of the company’s stock worth $9,678,000 after purchasing an additional 53,378 shares during the period. Tang Capital Management LLC boosted its stake in Immunocore by 40.7% during the 4th quarter. Tang Capital Management LLC now owns 1,555,600 shares of the company’s stock worth $45,890,000 after purchasing an additional 450,000 shares during the period. Finally, Tema Etfs LLC acquired a new stake in Immunocore during the 4th quarter worth $330,000. 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.