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

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

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

Immunocore Price Performance

NASDAQ:IMCR opened at $33.18 on Tuesday. The firm’s fifty day moving average is $36.84 and its two-hundred day moving average is $46.50. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of -27.20 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. Immunocore has a one year low of $32.37 and a one year high of $76.98.

Immunocore (NASDAQ:IMCR) last posted its 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 firm 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%. Immunocore’s revenue for the quarter was up 26.2% compared to the same quarter last year. During the same period last year, the company earned ($0.37) earnings per share. Research analysts expect that Immunocore will post -1.79 EPS for the current year.

Institutional Investors Weigh In On Immunocore

A number of hedge funds have recently modified their holdings of the business. 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 valued at $23,702,000 after acquiring an additional 45,010 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in shares of Immunocore during the 4th quarter worth approximately $1,314,000. Hsbc Holdings PLC purchased a new stake in shares of Immunocore in the fourth quarter valued at approximately $4,450,000. Bellevue Group AG increased its holdings 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 lifted its position in Immunocore by 1,867.3% during the second quarter. SG Americas Securities LLC now owns 160,358 shares of the company’s stock worth $5,435,000 after buying an additional 152,207 shares in the last quarter. 84.50% of the stock is currently owned by institutional investors and hedge funds.

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.