Immunocore (NASDAQ:IMCR) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Immunocore (NASDAQ:IMCR) had its target price boosted by research analysts at Needham & Company LLC from $71.00 to $75.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential upside of 133.21% from the stock’s previous close.

A number of other equities research analysts have also weighed in on IMCR. Morgan Stanley lifted their price objective on Immunocore from $34.00 to $36.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. UBS Group set a $55.00 price target on Immunocore and gave the company a “buy” rating in a report on Wednesday, January 7th. Wall Street Zen downgraded Immunocore from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Mizuho set a $38.00 price objective on Immunocore in a research report on Thursday, February 19th. Finally, Zacks Research raised Immunocore from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.30.

Immunocore Stock Performance

Shares of IMCR opened at $32.16 on Thursday. The stock has a market capitalization of $1.63 billion, a P/E ratio of -56.42 and a beta of 0.78. The company has a debt-to-equity ratio of 0.99, a quick ratio of 5.97 and a current ratio of 6.00. Immunocore has a 1 year low of $23.15 and a 1 year high of $40.71. The company’s fifty day moving average is $33.62 and its two-hundred day moving average is $34.33.

Immunocore (NASDAQ:IMCR) last issued its earnings results on Wednesday, February 25th. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.32). Immunocore had a negative net margin of 7.70% and a negative return on equity of 7.67%. The firm had revenue of $104.48 million during the quarter, compared to analysts’ expectations of $145.48 million. During the same period in the previous year, the firm earned ($0.47) EPS. The firm’s revenue was up 24.3% on a year-over-year basis. On average, sell-side analysts predict that Immunocore will post -0.94 earnings per share for the current year.

Insider Activity at Immunocore

In other news, insider David M. Berman sold 5,965 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $32.35, for a total transaction of $192,967.75. Following the completion of the transaction, the insider directly owned 5,859 shares of the company’s stock, valued at $189,538.65. This trade represents a 50.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Bahija Jallal sold 11,474 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $32.35, for a total value of $371,183.90. Following the completion of the sale, the chief executive officer directly owned 12,343 shares in the company, valued at approximately $399,296.05. The trade was a 48.18% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 19,137 shares of company stock valued at $619,082. Insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On Immunocore

A number of institutional investors have recently modified their holdings of IMCR. Bellevue Group AG boosted its position in Immunocore by 99.9% during the second quarter. Bellevue Group AG now owns 2,441,830 shares of the company’s stock worth $76,625,000 after acquiring an additional 1,220,036 shares during the last quarter. Primecap Management Co. CA boosted its holdings in shares of Immunocore by 40.8% during the second quarter. Primecap Management Co. CA now owns 3,771,474 shares of the company’s stock worth $118,349,000 after purchasing an additional 1,092,824 shares during the last quarter. BVF Inc. IL purchased a new stake in shares of Immunocore in the second quarter valued at $32,142,000. Millennium Management LLC increased its stake in Immunocore by 334.3% in the third quarter. Millennium Management LLC now owns 1,265,965 shares of the company’s stock valued at $45,993,000 after purchasing an additional 974,463 shares during the last quarter. Finally, Vestal Point Capital LP acquired a new position in Immunocore in the fourth quarter valued at $20,305,000. Institutional investors and hedge funds own 84.50% of the company’s stock.

Immunocore Company Profile

Immunocore plc is a clinical‐stage biotechnology company focused on the development of novel immunotherapies that harness the body’s own T‐cell response to treat cancer and infectious diseases. The company’s proprietary ImmTAC (immune mobilising monoclonal T‐cell receptors against cancer) platform utilizes engineered, soluble T‐cell receptor (TCR) molecules designed to recognise intracellular peptide–HLA complexes. By redirecting and activating T cells against disease‐associated targets, Immunocore aims to address malignancies and persistent viral infections with high unmet medical need.

The company’s most advanced candidate, tebentafusp, is a bispecific ImmTAC molecule that targets gp100, a melanoma‐associated antigen, and has received regulatory approval for the treatment of metastatic uveal melanoma.