Immunocore (NASDAQ:IMCR) Given New $78.00 Price Target at Needham & Company LLC

Immunocore (NASDAQ:IMCR) had its price target dropped by investment analysts at Needham & Company LLC from $81.00 to $78.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price objective indicates a potential upside of 136.36% from the stock’s previous close.

Several other analysts have also weighed in on the company. HC Wainwright reissued a “buy” rating and set a $100.00 price objective on shares of Immunocore in a report on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunocore in a research report on Monday, September 9th. JPMorgan Chase & Co. dropped their price objective on shares of Immunocore from $70.00 to $66.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Barclays dropped their price objective on shares of Immunocore from $92.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Finally, Oppenheimer reiterated an “outperform” rating and set a $89.00 target price (up from $87.00) on shares of Immunocore in a research report on Friday, August 9th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.40.

Immunocore Trading Down 1.6 %

Shares of Immunocore stock opened at $33.00 on Tuesday. The company has a current ratio of 5.17, a quick ratio of 5.15 and a debt-to-equity ratio of 1.31. Immunocore has a 1 year low of $32.37 and a 1 year high of $76.98. The company’s fifty day simple moving average is $37.23 and its 200-day simple moving average is $47.14. The company has a market cap of $1.65 billion, a price-to-earnings ratio of -27.05 and a beta of 0.73.

Immunocore (NASDAQ:IMCR) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.25. Immunocore had a negative net margin of 19.16% and a negative return on equity of 14.68%. The business had revenue of $75.40 million during the quarter, compared to analyst estimates of $74.58 million. During the same quarter in the prior year, the business earned ($0.37) earnings per share. The firm’s revenue for the quarter was up 26.2% on a year-over-year basis. As a group, sell-side analysts expect that Immunocore will post -1.79 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. increased its holdings in Immunocore by 0.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 70,571 shares of the company’s stock valued at $2,392,000 after purchasing an additional 606 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Immunocore by 6.5% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 22,622 shares of the company’s stock valued at $767,000 after buying an additional 1,390 shares during the last quarter. Trexquant Investment LP lifted its position in Immunocore by 6.5% during the 4th quarter. Trexquant Investment LP now owns 28,545 shares of the company’s stock worth $1,950,000 after buying an additional 1,746 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Immunocore by 2.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 87,614 shares of the company’s stock worth $5,695,000 after acquiring an additional 1,830 shares during the last quarter. Finally, DNB Asset Management AS grew its holdings in Immunocore by 35.0% during the 2nd quarter. DNB Asset Management AS now owns 7,211 shares of the company’s stock worth $244,000 after acquiring an additional 1,868 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.