Needham & Company LLC Reiterates Buy Rating for Immunocore (NASDAQ:IMCR)

Immunocore (NASDAQ:IMCR)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $71.00 price target on the stock. Needham & Company LLC’s target price would indicate a potential upside of 141.74% from the company’s current price.

A number of other research firms also recently commented on IMCR. Mizuho downgraded Immunocore from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $72.00 to $38.00 in a research note on Monday, November 11th. Morgan Stanley reaffirmed an “equal weight” rating and set a $35.00 target price (down previously from $74.00) on shares of Immunocore in a report on Friday, December 13th. Finally, HC Wainwright reissued a “buy” rating and set a $100.00 price target on shares of Immunocore in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.64.

Immunocore Trading Down 0.7 %

NASDAQ IMCR opened at $29.37 on Thursday. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of -30.92 and a beta of 0.77. The company has a debt-to-equity ratio of 1.03, a current ratio of 3.78 and a quick ratio of 3.76. Immunocore has a 12 month low of $27.69 and a 12 month high of $72.05. The company’s fifty day moving average price is $30.08 and its two-hundred day moving average price is $31.89.

Hedge Funds Weigh In On Immunocore

Several hedge funds and other institutional investors have recently modified their holdings of the company. Primecap Management Co. CA lifted its position in Immunocore by 26.7% in the 3rd quarter. Primecap Management Co. CA now owns 2,472,020 shares of the company’s stock valued at $76,954,000 after purchasing an additional 520,950 shares during the last quarter. State Street Corp increased its stake in shares of Immunocore by 63.9% in the third quarter. State Street Corp now owns 76,671 shares of the company’s stock valued at $2,387,000 after purchasing an additional 29,897 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Immunocore by 25.0% during the third quarter. Principal Financial Group Inc. now owns 546,318 shares of the company’s stock valued at $17,007,000 after buying an additional 109,206 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in shares of Immunocore by 125.4% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 49,608 shares of the company’s stock worth $1,463,000 after buying an additional 27,598 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Immunocore by 7,437.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 92,257 shares of the company’s stock worth $2,872,000 after buying an additional 91,033 shares during the period. 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.