Immunocore (NASDAQ:IMCR) Price Target Cut to $71.00 by Analysts at Needham & Company LLC

Immunocore (NASDAQ:IMCR) had its target price reduced by equities research analysts at Needham & Company LLC from $78.00 to $71.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective points to a potential upside of 111.88% from the stock’s current price.

A number of other brokerages also recently issued reports on IMCR. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunocore in a research report on Monday, September 9th. Guggenheim lowered Immunocore from a “buy” rating to a “neutral” rating in a research note on Monday, October 7th. Oppenheimer reissued an “outperform” rating and set a $89.00 price objective (up from $87.00) on shares of Immunocore in a report on Friday, August 9th. Morgan Stanley lowered their price target on Immunocore from $80.00 to $74.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Finally, JPMorgan Chase & Co. reduced their price objective on Immunocore from $70.00 to $66.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Immunocore currently has an average rating of “Moderate Buy” and an average price target of $73.73.

Immunocore Trading Up 1.6 %

Shares of NASDAQ:IMCR opened at $33.51 on Thursday. The company has a current ratio of 5.17, a quick ratio of 5.15 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $1.68 billion, a PE ratio of -31.03 and a beta of 0.72. Immunocore has a 12-month low of $29.72 and a 12-month high of $76.98. The business’s fifty day simple moving average is $32.72 and its 200-day simple moving average is $39.74.

Immunocore (NASDAQ:IMCR) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate 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 period in the prior year, the firm posted ($0.37) earnings per share. The company’s quarterly revenue was up 26.2% on a year-over-year basis. As a group, equities research analysts predict that Immunocore will post -1.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IMCR. Envestnet Asset Management Inc. raised its position in Immunocore by 0.9% during the second quarter. Envestnet Asset Management Inc. now owns 70,571 shares of the company’s stock worth $2,392,000 after acquiring an additional 606 shares during the period. Hennion & Walsh Asset Management Inc. lifted its stake in Immunocore by 6.5% in the 2nd 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 in the last quarter. Exchange Traded Concepts LLC boosted its holdings in Immunocore by 40.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 5,075 shares of the company’s stock worth $158,000 after buying an additional 1,461 shares during the last quarter. DNB Asset Management AS increased its stake 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 buying an additional 1,868 shares in the last quarter. Finally, Assetmark Inc. raised its holdings in shares of Immunocore by 6.5% during the third quarter. Assetmark Inc. now owns 30,555 shares of the company’s stock valued at $951,000 after acquiring an additional 1,878 shares during the last quarter. Hedge funds and other 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.