Immunocore (NASDAQ:IMCR) Price Target Lowered to $66.00 at Barclays

Immunocore (NASDAQ:IMCR) had its target price trimmed by Barclays from $92.00 to $66.00 in a research report released on Friday, Benzinga reports. The firm currently has an overweight rating on the stock.

IMCR has been the topic of several other reports. Guggenheim restated a buy rating and set a $92.00 target price on shares of Immunocore in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. dropped their price target on Immunocore from $70.00 to $66.00 and set an overweight rating on the stock in a research note on Wednesday, July 10th. Needham & Company LLC reaffirmed a buy rating and issued a $81.00 price objective on shares of Immunocore in a research report on Friday. Mizuho lowered their target price on shares of Immunocore from $90.00 to $88.00 and set a buy rating for the company in a research note on Monday, May 13th. Finally, SVB Leerink began coverage on shares of Immunocore in a research note on Monday, April 29th. They set an outperform rating and a $74.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $81.00.

Immunocore Stock Performance

Shares of Immunocore stock opened at $37.63 on Friday. Immunocore has a one year low of $33.04 and a one year high of $76.98. The company has a market capitalization of $1.88 billion, a PE ratio of -30.84 and a beta of 0.75. The company has a debt-to-equity ratio of 1.22, a quick ratio of 5.94 and a current ratio of 5.96. The company has a 50-day simple moving average of $38.33 and a two-hundred day simple moving average of $53.50.

Immunocore (NASDAQ:IMCR) last posted its earnings results on Thursday, August 8th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.25. The company had revenue of $75.40 million during the quarter, compared to analysts’ expectations of $74.58 million. Immunocore had a negative net margin of 22.60% and a negative return on equity of 16.54%. Immunocore’s revenue for the quarter was up 26.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.37) earnings per share. Research analysts expect that Immunocore will post -1.98 EPS for the current fiscal year.

Institutional Investors Weigh In On Immunocore

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. DNB Asset Management AS lifted its holdings in shares of Immunocore by 35.0% in the 2nd quarter. DNB Asset Management AS now owns 7,211 shares of the company’s stock valued at $244,000 after buying an additional 1,868 shares during the period. NEOS Investment Management LLC acquired a new position in Immunocore in the fourth quarter valued at approximately $262,000. XTX Topco Ltd purchased a new stake in Immunocore in the 2nd quarter worth approximately $303,000. Tidal Investments LLC acquired a new stake in shares of Immunocore during the 1st quarter worth approximately $423,000. Finally, China Universal Asset Management Co. Ltd. increased its holdings in shares of Immunocore by 69.8% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,621 shares of the company’s stock valued at $430,000 after purchasing an additional 2,721 shares in the last quarter. 84.50% of the stock is owned by institutional investors and hedge funds.

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.