Immunocore (NASDAQ:IMCR) Receives "Buy" Rating from Needham & Company LLC

Immunocore (NASDAQ:IMCR - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at Needham & Company LLC in a research report issued on Thursday, Benzinga reports. They currently have a $81.00 target price on the stock. Needham & Company LLC's price target suggests a potential upside of 35.34% from the stock's previous close.

Other equities analysts have also recently issued reports about the company. SVB Leerink began coverage on Immunocore in a report on Monday, April 29th. They set an "outperform" rating and a $74.00 price target for the company. Mizuho increased their target price on Immunocore from $86.00 to $90.00 and gave the stock a "buy" rating in a research note on Tuesday, March 5th. HC Wainwright reissued a "buy" rating and set a $90.00 target price on shares of Immunocore in a research note on Wednesday, March 6th. Oppenheimer reissued an "outperform" rating and set a $87.00 target price (up previously from $85.00) on shares of Immunocore in a research note on Thursday, February 29th. Finally, JPMorgan Chase & Co. increased their target price on Immunocore from $60.00 to $70.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 20th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $82.00.

Immunocore Price Performance

NASDAQ IMCR traded down $1.47 on Thursday, hitting $59.85. The company had a trading volume of 540,493 shares, compared to its average volume of 475,137. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.80 and a quick ratio of 3.77. The company has a market capitalization of $2.98 billion, a PE ratio of -51.46 and a beta of 0.92. Immunocore has a 12-month low of $42.21 and a 12-month high of $76.98. The company's fifty day moving average price is $60.76 and its 200-day moving average price is $61.33.

Immunocore (NASDAQ:IMCR - Get Free Report) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.12). The company had revenue of $70.30 million for the quarter, compared to analyst estimates of $70.72 million. Immunocore had a negative return on equity of 15.78% and a negative net margin of 22.48%. The firm's revenue for the quarter was up 27.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.35) EPS. As a group, analysts predict that Immunocore will post -1.55 earnings per share for the current year.

Institutional Investors Weigh In On Immunocore

Several hedge funds and other institutional investors have recently made changes to their positions in the business. RTW Investments LP grew its stake in Immunocore by 1.1% during the 3rd quarter. RTW Investments LP now owns 6,096,387 shares of the company's stock worth $316,402,000 after buying an additional 66,754 shares during the last quarter. Wellington Management Group LLP grew its stake in Immunocore by 10.2% during the 4th quarter. Wellington Management Group LLP now owns 4,312,611 shares of the company's stock worth $294,638,000 after buying an additional 399,201 shares during the last quarter. FMR LLC grew its stake in Immunocore by 4.4% during the 3rd quarter. FMR LLC now owns 2,136,223 shares of the company's stock worth $110,870,000 after buying an additional 90,116 shares during the last quarter. Bellevue Group AG grew its stake in Immunocore by 4,817.1% during the 4th quarter. Bellevue Group AG now owns 976,054 shares of the company's stock worth $66,684,000 after buying an additional 956,204 shares during the last quarter. Finally, Braidwell LP grew its stake in Immunocore by 93.8% during the 3rd quarter. Braidwell LP now owns 906,973 shares of the company's stock worth $47,072,000 after buying an additional 438,946 shares during the last quarter. Institutional investors and hedge funds 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.