Immunocore’s (IMCR) Buy Rating Reiterated at Needham & Company LLC

Immunocore (NASDAQ:IMCR)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports. They currently have a $71.00 target price on the stock. Needham & Company LLC’s price objective suggests a potential upside of 130.74% from the stock’s current price.

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

Immunocore Stock Performance

Shares of IMCR stock opened at $30.77 on Thursday. Immunocore has a one year low of $27.69 and a one year high of $72.56. The company has a debt-to-equity ratio of 1.03, a current ratio of 3.78 and a quick ratio of 3.76. The stock has a market cap of $1.54 billion, a P/E ratio of -32.39 and a beta of 0.77. The company has a fifty day moving average price of $30.03 and a two-hundred day moving average price of $31.96.

Institutional Trading of Immunocore

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GF Fund Management CO. LTD. acquired a new position in Immunocore during the 4th quarter worth about $25,000. Woodline Partners LP raised its position in shares of Immunocore by 19.4% during the fourth quarter. Woodline Partners LP now owns 328,059 shares of the company’s stock worth $9,678,000 after acquiring an additional 53,378 shares during the last quarter. Tang Capital Management LLC lifted its stake 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 worth $45,890,000 after acquiring an additional 450,000 shares during the period. Tema Etfs LLC bought a new stake in Immunocore in the fourth quarter valued at approximately $330,000. Finally, Point72 Asset Management L.P. acquired a new stake in Immunocore during the 4th quarter valued at approximately $11,897,000. 84.50% of the stock is currently owned by institutional investors and hedge funds.

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.