Deutsche Bank Aktiengesellschaft Begins Coverage on Immunocore (NASDAQ:IMCR)

Deutsche Bank Aktiengesellschaft assumed coverage on shares of Immunocore (NASDAQ:IMCR - Free Report) in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $65.00 price target on the stock.

A number of other research firms have also weighed in on IMCR. Mizuho cut their price objective on Immunocore from $38.00 to $33.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Needham & Company LLC restated a "buy" rating and set a $71.00 price target on shares of Immunocore in a report on Thursday, April 10th. Oppenheimer lifted their price objective on Immunocore from $85.00 to $86.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. cut their target price on shares of Immunocore from $54.00 to $50.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Finally, Morgan Stanley reiterated an "equal weight" rating and issued a $35.00 price target on shares of Immunocore in a research note on Friday, March 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Immunocore has an average rating of "Moderate Buy" and an average target price of $58.89.

Immunocore Trading Up 4.1%

IMCR traded up $1.45 on Tuesday, hitting $36.49. The company had a trading volume of 817,284 shares, compared to its average volume of 390,909. The company's fifty day moving average price is $29.37 and its 200 day moving average price is $30.00. Immunocore has a 1 year low of $23.15 and a 1 year high of $49.05. The company has a current ratio of 3.78, a quick ratio of 3.76 and a debt-to-equity ratio of 1.03. The firm has a market cap of $1.83 billion, a P/E ratio of -38.41 and a beta of 0.75.

Immunocore (NASDAQ:IMCR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.10 earnings per share for the quarter, beating analysts' consensus estimates of ($0.35) by $0.45. The business had revenue of $125.13 million during the quarter, compared to analysts' expectations of $108.82 million. Immunocore had a negative return on equity of 12.84% and a negative net margin of 15.87%. The company's revenue was up 33.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.49) earnings per share. As a group, equities analysts expect that Immunocore will post -0.94 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Bros. Advisors Lp Baker acquired 807,338 shares of the firm's stock in a transaction on Monday, March 17th. The stock was bought at an average price of $29.72 per share, for a total transaction of $23,994,085.36. Following the completion of the purchase, the director now directly owns 2,144,060 shares of the company's stock, valued at approximately $63,721,463.20. The trade was a 60.40% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 10.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Immunocore

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IMCR. Barclays PLC increased its holdings in shares of Immunocore by 2,044.0% in the 4th quarter. Barclays PLC now owns 20,625 shares of the company's stock valued at $608,000 after acquiring an additional 19,663 shares during the period. Legal & General Group Plc grew its position in Immunocore by 17.3% during the 4th quarter. Legal & General Group Plc now owns 136,875 shares of the company's stock worth $4,038,000 after purchasing an additional 20,163 shares during the last quarter. Primecap Management Co. CA increased its stake in Immunocore by 8.0% in the fourth quarter. Primecap Management Co. CA now owns 2,668,550 shares of the company's stock valued at $78,722,000 after purchasing an additional 196,530 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Immunocore by 1.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,187,530 shares of the company's stock valued at $64,533,000 after purchasing an additional 29,832 shares during the period. Finally, BIT Capital GmbH raised its holdings in shares of Immunocore by 182.7% in the fourth quarter. BIT Capital GmbH now owns 67,840 shares of the company's stock valued at $2,001,000 after buying an additional 43,840 shares during the last quarter. Hedge funds and other 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.