Needham & Company LLC Cuts Immunocore (NASDAQ:IMCR) Price Target to $78.00

Immunocore (NASDAQ:IMCR) had its price target trimmed by Needham & Company LLC from $81.00 to $78.00 in a research report released on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also weighed in on IMCR. Barclays decreased their target price on shares of Immunocore from $92.00 to $66.00 and set an overweight rating on the stock in a report on Friday, August 9th. HC Wainwright reiterated a buy rating and issued a $100.00 price objective on shares of Immunocore in a report on Tuesday. JPMorgan Chase & Co. cut their target price on Immunocore from $70.00 to $66.00 and set an overweight rating for the company in a research note on Wednesday, July 10th. Oppenheimer restated an outperform rating and issued a $89.00 target price (up previously from $87.00) on shares of Immunocore in a research report on Friday, August 9th. Finally, Cantor Fitzgerald reiterated an overweight rating on shares of Immunocore in a report on Monday, September 9th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $80.40.

Immunocore Price Performance

NASDAQ:IMCR opened at $34.21 on Tuesday. Immunocore has a one year low of $32.37 and a one year high of $76.98. The stock has a market cap of $1.71 billion, a PE ratio of -28.04 and a beta of 0.73. The company has a debt-to-equity ratio of 1.31, a quick ratio of 5.15 and a current ratio of 5.17. The stock has a 50 day moving average price of $37.07 and a 200 day moving average price of $46.82.

Immunocore (NASDAQ:IMCR) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.25. The business had revenue of $75.40 million for the quarter, compared to analyst estimates of $74.58 million. Immunocore had a negative return on equity of 14.68% and a negative net margin of 19.16%. The company’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.37) EPS. Equities research analysts expect that Immunocore will post -1.79 EPS for the current fiscal year.

Institutional Trading of Immunocore

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. TD Asset Management Inc grew its stake in Immunocore by 14.9% during the 4th quarter. TD Asset Management Inc now owns 346,930 shares of the company’s stock worth $23,702,000 after buying an additional 45,010 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new position in Immunocore during the fourth quarter worth $1,314,000. Hsbc Holdings PLC purchased a new stake in shares of Immunocore in the 4th quarter worth about $4,450,000. Bellevue Group AG grew its position in shares of Immunocore by 4,817.1% in the fourth quarter. Bellevue Group AG now owns 976,054 shares of the company’s stock valued at $66,684,000 after purchasing an additional 956,204 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in Immunocore by 1,867.3% during the 2nd quarter. SG Americas Securities LLC now owns 160,358 shares of the company’s stock valued at $5,435,000 after buying an additional 152,207 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.