Immunocore (NASDAQ:IMCR) Given Buy Rating at Needham & Company LLC

Immunocore (NASDAQ:IMCR)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a report issued on Thursday, Benzinga reports. They presently have a $81.00 price objective on the stock. Needham & Company LLC’s target price would suggest a potential upside of 32.09% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. HC Wainwright restated a “buy” rating and set a $90.00 price objective on shares of Immunocore in a report on Wednesday, March 6th. SVB Leerink assumed coverage on Immunocore in a report on Monday, April 29th. They issued an “outperform” rating and a $74.00 price target on the stock. Guggenheim reissued a “buy” rating and issued a $92.00 target price on shares of Immunocore in a research report on Tuesday, April 23rd. Oppenheimer reaffirmed an “outperform” rating and set a $87.00 price target (up previously from $85.00) on shares of Immunocore in a research report on Thursday, February 29th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Immunocore from $60.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Immunocore presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.92.

Immunocore Price Performance

Shares of IMCR stock opened at $61.32 on Thursday. The firm has a fifty day moving average of $60.91 and a 200-day moving average of $61.33. The company has a quick ratio of 3.77, a current ratio of 3.80 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of -52.86 and a beta of 0.92. Immunocore has a 12-month low of $42.21 and a 12-month high of $76.98.

Immunocore (NASDAQ:IMCR) last released its quarterly earnings data 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). Immunocore had a negative net margin of 22.48% and a negative return on equity of 15.78%. The business had revenue of $70.30 million for the quarter, compared to the consensus estimate of $70.72 million. During the same quarter last year, the firm earned ($0.35) EPS. The company’s revenue for the quarter was up 27.6% on a year-over-year basis. On average, equities research analysts forecast that Immunocore will post -1.55 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in IMCR. China Universal Asset Management Co. Ltd. grew its position in shares of Immunocore by 103.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 836 shares of the company’s stock valued at $43,000 after buying an additional 426 shares during the last quarter. Exchange Traded Concepts LLC increased its position in Immunocore by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 2,656 shares of the company’s stock valued at $181,000 after purchasing an additional 674 shares during the period. JGP Global Gestao de Recursos Ltda. bought a new position in Immunocore during the 4th quarter worth approximately $230,000. NEOS Investment Management LLC acquired a new position in shares of Immunocore in the 4th quarter worth approximately $262,000. Finally, Oppenheimer Asset Management Inc. increased its position in shares of Immunocore by 26.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 7,491 shares of the company’s stock worth $389,000 after buying an additional 1,572 shares during the period. Institutional investors own 84.50% of the company’s stock.

Immunocore Company Profile

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.