Immunocore (NASDAQ:IMCR) Given New $71.00 Price Target at Needham & Company LLC

Immunocore (NASDAQ:IMCR) had its price target reduced by Needham & Company LLC from $78.00 to $71.00 in a research report sent to investors on Thursday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other brokerages also recently weighed in on IMCR. HC Wainwright reissued a “buy” rating and issued a $100.00 price target on shares of Immunocore in a report on Thursday, October 24th. Morgan Stanley dropped their price target on Immunocore from $80.00 to $74.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. UBS Group began coverage on Immunocore in a report on Thursday, October 24th. They issued a “sell” rating and a $24.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on Immunocore from $70.00 to $66.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Finally, Oppenheimer reissued an “outperform” rating and issued a $89.00 price target (up previously from $87.00) on shares of Immunocore in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $73.73.

Immunocore Stock Performance

Shares of IMCR traded up $0.38 during midday trading on Thursday, hitting $34.69. 199,461 shares of the stock traded hands, compared to its average volume of 525,921. The firm has a market capitalization of $1.74 billion, a PE ratio of -31.68 and a beta of 0.72. The business’s 50 day moving average price is $32.66 and its two-hundred day moving average price is $39.66. Immunocore has a 1-year low of $29.72 and a 1-year high of $76.98. The company has a debt-to-equity ratio of 1.31, a quick ratio of 5.15 and a current ratio of 5.17.

Immunocore (NASDAQ:IMCR) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.50. Immunocore had a negative return on equity of 14.68% and a negative net margin of 19.16%. The company had revenue of $80.25 million for the quarter, compared to analysts’ expectations of $78.94 million. During the same quarter in the previous year, the company posted ($0.59) earnings per share. The business’s revenue for the quarter was up 23.7% compared to the same quarter last year. Equities research analysts predict that Immunocore will post -1.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IMCR. SG Americas Securities LLC boosted its holdings in Immunocore by 1,867.3% during the second quarter. SG Americas Securities LLC now owns 160,358 shares of the company’s stock valued at $5,435,000 after purchasing an additional 152,207 shares in the last quarter. Candriam S.C.A. lifted its position in shares of Immunocore by 65.8% during the second quarter. Candriam S.C.A. now owns 313,423 shares of the company’s stock worth $10,621,000 after purchasing an additional 124,417 shares in the last quarter. Frazier Life Sciences Management L.P. bought a new position in Immunocore in the 2nd quarter valued at $3,686,000. Janus Henderson Group PLC raised its holdings in Immunocore by 45.8% during the 1st quarter. Janus Henderson Group PLC now owns 257,080 shares of the company’s stock worth $16,711,000 after purchasing an additional 80,748 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Immunocore by 16.2% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 397,463 shares of the company’s stock worth $13,470,000 after purchasing an additional 55,463 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.