Immunocore (NASDAQ:IMCR) Receives “Buy” Rating from Needham & Company LLC

Immunocore (NASDAQ:IMCR)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a research report issued on Thursday,Benzinga reports. They presently have a $71.00 target price on the stock. Needham & Company LLC’s target price points to a potential upside of 184.00% from the company’s current price.

A number of other brokerages also recently commented on IMCR. Mizuho lowered their price objective on Immunocore from $38.00 to $33.00 and set a “neutral” rating for the company in a research report on Monday. HC Wainwright reiterated a “buy” rating and issued a $100.00 target price on shares of Immunocore in a report on Wednesday, March 12th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $35.00 target price on shares of Immunocore in a report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Immunocore has a consensus rating of “Moderate Buy” and an average target price of $65.18.

Immunocore Trading Down 4.3 %

Shares of NASDAQ:IMCR traded down $1.12 during midday trading on Thursday, reaching $25.00. The company’s stock had a trading volume of 41,489 shares, compared to its average volume of 442,846. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of -26.32 and a beta of 0.75. The company has a quick ratio of 3.76, a current ratio of 3.78 and a debt-to-equity ratio of 1.03. Immunocore has a 1 year low of $23.15 and a 1 year high of $62.74. The business has a 50 day moving average price of $29.12 and a 200 day moving average price of $30.55.

Insider Transactions at Immunocore

In other Immunocore news, Director Bros. Advisors Lp Baker acquired 807,338 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was acquired at an average cost of $29.72 per share, with a total value of $23,994,085.36. Following the acquisition, the director now directly owns 2,144,060 shares of the company’s stock, valued at $63,721,463.20. This represents a 60.40 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 9.10% of the company’s stock.

Hedge Funds Weigh In On Immunocore

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IMCR. Groupama Asset Managment bought a new position in Immunocore during the 4th quarter valued at $17,700,000. Deep Track Capital LP bought a new stake in shares of Immunocore during the 4th quarter worth $15,322,000. Tang Capital Management LLC lifted its holdings in shares of Immunocore by 40.7% in the fourth quarter. Tang Capital Management LLC now owns 1,555,600 shares of the company’s stock valued at $45,890,000 after purchasing an additional 450,000 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Immunocore in the fourth quarter valued at $11,897,000. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in shares of Immunocore by 3.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,700,208 shares of the company’s stock valued at $197,657,000 after purchasing an additional 200,373 shares in the last quarter. 84.50% of the stock is owned by institutional investors.

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.