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

Immunocore (NASDAQ:IMCR)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $71.00 price target on the stock. Needham & Company LLC’s target price points to a potential upside of 149.82% from the stock’s current price.

Several other brokerages have also issued reports on IMCR. Morgan Stanley reissued an “equal weight” rating and issued a $35.00 price target on shares of Immunocore in a report on Friday, March 7th. HC Wainwright reissued a “buy” rating and issued a $100.00 price target on shares of Immunocore in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $65.64.

Immunocore Price Performance

Shares of NASDAQ:IMCR opened at $28.42 on Wednesday. The firm has a market capitalization of $1.42 billion, a PE ratio of -29.92 and a beta of 0.79. The company has a current ratio of 3.78, a quick ratio of 3.76 and a debt-to-equity ratio of 1.03. Immunocore has a 1-year low of $27.19 and a 1-year high of $66.00. The business’s 50 day moving average is $30.14 and its 200-day moving average is $31.47.

Institutional Investors Weigh In On Immunocore

Institutional investors have recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. acquired a new stake in shares of Immunocore in the fourth quarter valued at approximately $25,000. China Universal Asset Management Co. Ltd. lifted its position in Immunocore by 12.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,393 shares of the company’s stock worth $248,000 after buying an additional 960 shares in the last quarter. NEOS Investment Management LLC boosted its stake in shares of Immunocore by 10.9% during the 4th quarter. NEOS Investment Management LLC now owns 11,194 shares of the company’s stock worth $330,000 after buying an additional 1,102 shares during the last quarter. Tema Etfs LLC bought a new position in shares of Immunocore in the 4th quarter valued at about $330,000. Finally, Virtus ETF Advisers LLC increased its position in shares of Immunocore by 39.0% in the fourth quarter. Virtus ETF Advisers LLC now owns 11,536 shares of the company’s stock valued at $340,000 after acquiring an additional 3,238 shares during 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.