Immunocore’s (IMCR) Buy Rating Reaffirmed at Needham & Company LLC

Immunocore (NASDAQ:IMCR)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a report released on Friday, Benzinga reports. They currently have a $81.00 price objective on the stock. Needham & Company LLC’s price target indicates a potential upside of 68.82% from the stock’s current price.

Several other equities research analysts also recently issued reports on the company. HC Wainwright raised their price target on Immunocore from $90.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Mizuho cut their price objective on shares of Immunocore from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Monday, May 13th. Canaccord Genuity Group upped their target price on Immunocore from $63.00 to $67.00 and gave the company a “hold” rating in a research report on Thursday, May 9th. Oppenheimer reiterated an “outperform” rating and set a $87.00 target price (up previously from $85.00) on shares of Immunocore in a research note on Thursday, February 29th. Finally, JPMorgan Chase & Co. upped their price objective on Immunocore from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $81.85.

Immunocore Stock Performance

Shares of IMCR stock opened at $47.98 on Friday. The company has a fifty day moving average price of $58.76 and a two-hundred day moving average price of $61.89. Immunocore has a one year low of $42.21 and a one year high of $76.98. The stock has a market cap of $2.40 billion, a P/E ratio of -39.33 and a beta of 0.92. The company has a debt-to-equity ratio of 1.22, a current ratio of 5.96 and a quick ratio of 5.94.

Immunocore (NASDAQ:IMCR) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.12). Immunocore had a negative return on equity of 16.54% and a negative net margin of 22.60%. The business had revenue of $70.30 million for the quarter, compared to the consensus estimate of $70.72 million. During the same quarter in the previous year, the business posted ($0.35) EPS. The company’s revenue for the quarter was up 27.6% on a year-over-year basis. As a group, equities analysts predict that Immunocore will post -1.88 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Exchange Traded Concepts LLC boosted its holdings in shares of Immunocore by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 2,656 shares of the company’s stock valued at $181,000 after acquiring an additional 674 shares in the last quarter. JGP Global Gestao de Recursos Ltda. acquired a new stake in Immunocore during the 4th quarter worth approximately $230,000. NEOS Investment Management LLC acquired a new position in Immunocore in the 4th quarter valued at approximately $262,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Immunocore by 366.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,900 shares of the company’s stock valued at $266,000 after acquiring an additional 3,064 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in Immunocore by 26.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 7,491 shares of the company’s stock worth $389,000 after purchasing an additional 1,572 shares during the last quarter. 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.