Immunocore (NASDAQ:IMCR) Receives Equal Weight Rating from Morgan Stanley

Immunocore (NASDAQ:IMCR)‘s stock had its “equal weight” rating restated by analysts at Morgan Stanley in a research note issued to investors on Friday,Benzinga reports. They currently have a $35.00 target price on the stock. Morgan Stanley’s price objective would suggest a potential upside of 15.84% from the stock’s current price.

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

Immunocore Stock Performance

NASDAQ IMCR traded down $0.60 during trading hours on Friday, hitting $30.22. 50,544 shares of the stock were exchanged, compared to its average volume of 224,865. The company has a quick ratio of 3.76, a current ratio of 3.78 and a debt-to-equity ratio of 1.03. The stock has a 50-day moving average of $30.15 and a 200 day moving average of $31.69. Immunocore has a 12-month low of $27.69 and a 12-month high of $66.00. The company has a market cap of $1.51 billion, a price-to-earnings ratio of -31.69 and a beta of 0.79.

Institutional Investors Weigh In On Immunocore

A number of hedge funds have recently added to or reduced their stakes in the stock. Primecap Management Co. CA raised its stake in shares of Immunocore by 26.7% during the third quarter. Primecap Management Co. CA now owns 2,472,020 shares of the company’s stock valued at $76,954,000 after purchasing an additional 520,950 shares in the last quarter. State Street Corp grew its holdings in Immunocore by 63.9% during the third quarter. State Street Corp now owns 76,671 shares of the company’s stock worth $2,387,000 after acquiring an additional 29,897 shares during the period. Principal Financial Group Inc. raised its position in Immunocore by 25.0% in the third quarter. Principal Financial Group Inc. now owns 546,318 shares of the company’s stock worth $17,007,000 after acquiring an additional 109,206 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in Immunocore by 125.4% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 49,608 shares of the company’s stock valued at $1,463,000 after acquiring an additional 27,598 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Immunocore by 7,437.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 92,257 shares of the company’s stock valued at $2,872,000 after purchasing an additional 91,033 shares in the last quarter. 84.50% of the stock is currently owned by institutional investors.

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.