Needham & Company LLC Reaffirms “Buy” Rating for Immunocore (NASDAQ:IMCR)

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

Several other brokerages have also weighed in on IMCR. Morgan Stanley reissued an “equal weight” rating and set a $35.00 price objective (down previously from $74.00) on shares of Immunocore in a report on Friday, December 13th. Mizuho downgraded shares of Immunocore from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $72.00 to $38.00 in a research note on Monday, November 11th. Finally, HC Wainwright restated a “buy” rating and issued a $100.00 price objective on shares of Immunocore in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Immunocore presently has a consensus rating of “Moderate Buy” and an average price target of $65.64.

Immunocore Stock Up 5.3 %

IMCR stock opened at $30.77 on Thursday. Immunocore has a twelve month low of $27.69 and a twelve month high of $72.56. The company has a quick ratio of 3.76, a current ratio of 3.78 and a debt-to-equity ratio of 1.03. The company has a market cap of $1.54 billion, a PE ratio of -32.39 and a beta of 0.77. The business’s 50-day simple moving average is $30.03 and its 200 day simple moving average is $31.96.

Institutional Trading of Immunocore

Several large investors have recently added to or reduced their stakes in the company. Primecap Management Co. CA raised its holdings in shares of Immunocore by 26.7% in the third quarter. Primecap Management Co. CA now owns 2,472,020 shares of the company’s stock valued at $76,954,000 after buying an additional 520,950 shares during the last quarter. State Street Corp boosted its stake in Immunocore by 63.9% during the 3rd quarter. State Street Corp now owns 76,671 shares of the company’s stock worth $2,387,000 after acquiring an additional 29,897 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Immunocore by 25.0% in the 3rd quarter. Principal Financial Group Inc. now owns 546,318 shares of the company’s stock valued at $17,007,000 after buying an additional 109,206 shares during the period. Hennion & Walsh Asset Management Inc. grew its stake in Immunocore by 125.4% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 49,608 shares of the company’s stock valued at $1,463,000 after acquiring an additional 27,598 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Immunocore by 7,437.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 92,257 shares of the company’s stock worth $2,872,000 after purchasing an additional 91,033 shares in the last quarter. 84.50% of the stock is owned by institutional investors.

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.