Immunocore (NASDAQ:IMCR) Price Target Raised to $36.00

Immunocore (NASDAQ:IMCR) had its target price increased by Morgan Stanley from $34.00 to $36.00 in a research note published on Monday, Marketbeat.com reports. The firm currently has an equal weight rating on the stock.

Other research analysts have also issued reports about the stock. Wells Fargo & Company assumed coverage on shares of Immunocore in a report on Friday, October 31st. They issued an “overweight” rating and a $60.00 price target for the company. HC Wainwright restated a “buy” rating and issued a $100.00 target price on shares of Immunocore in a research note on Wednesday, October 22nd. Jefferies Financial Group initiated coverage on Immunocore in a report on Monday, August 25th. They set a “buy” rating and a $48.00 target price for the company. Wall Street Zen raised Immunocore from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Immunocore in a research note on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Immunocore presently has an average rating of “Moderate Buy” and an average target price of $61.00.

Immunocore Price Performance

Shares of NASDAQ IMCR opened at $35.29 on Monday. The company has a current ratio of 6.00, a quick ratio of 5.97 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of -61.91 and a beta of 0.78. Immunocore has a twelve month low of $23.15 and a twelve month high of $39.33. The business has a 50 day simple moving average of $33.95 and a 200-day simple moving average of $33.28.

Immunocore (NASDAQ:IMCR) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.32. Immunocore had a negative net margin of 7.70% and a negative return on equity of 7.67%. The firm had revenue of $135.80 million during the quarter, compared to the consensus estimate of $137.29 million. The firm’s revenue was up 29.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.17 earnings per share. As a group, equities research analysts expect that Immunocore will post -0.94 earnings per share for the current year.

Insider Transactions at Immunocore

In related news, insider David M. Berman sold 22,532 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $35.67, for a total value of $803,716.44. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 10.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of IMCR. JT Stratford LLC acquired a new position in shares of Immunocore during the third quarter valued at $210,000. R Squared Ltd acquired a new position in Immunocore during the 3rd quarter valued at about $299,000. DNB Asset Management AS increased its stake in Immunocore by 6.4% during the 3rd quarter. DNB Asset Management AS now owns 8,116 shares of the company’s stock valued at $295,000 after buying an additional 488 shares during the period. TD Asset Management Inc raised its position in shares of Immunocore by 0.9% during the 3rd quarter. TD Asset Management Inc now owns 288,860 shares of the company’s stock worth $10,494,000 after buying an additional 2,596 shares in the last quarter. Finally, Persistent Asset Partners Ltd lifted its stake in shares of Immunocore by 19.0% in the 3rd quarter. Persistent Asset Partners Ltd now owns 28,615 shares of the company’s stock worth $1,040,000 after acquiring an additional 4,577 shares during the period. Institutional investors own 84.50% of the company’s stock.

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.