Immunocore (NASDAQ:IMCR) Price Target Raised to $75.00

Immunocore (NASDAQ:IMCR) had its price target upped by Needham & Company LLC from $71.00 to $75.00 in a research report released on Thursday,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also issued reports on IMCR. Mizuho set a $38.00 price target on Immunocore in a research note on Thursday, February 19th. Morgan Stanley lifted their target price on Immunocore from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. Zacks Research upgraded shares of Immunocore from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 7th. UBS Group set a $55.00 price objective on shares of Immunocore and gave the company a “buy” rating in a report on Wednesday, January 7th. Finally, Wells Fargo & Company initiated coverage on shares of Immunocore in a research report on Friday, October 31st. They set an “overweight” rating and a $60.00 target price on the stock. Eight equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Immunocore has an average rating of “Moderate Buy” and a consensus price target of $61.30.

Immunocore Price Performance

Immunocore stock opened at $32.30 on Thursday. Immunocore has a 12-month low of $23.15 and a 12-month high of $40.71. 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 firm has a 50-day moving average price of $33.47 and a 200-day moving average price of $34.34. The firm has a market capitalization of $1.63 billion, a PE ratio of -46.14 and a beta of 0.78.

Immunocore (NASDAQ:IMCR) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.32). Immunocore had a negative return on equity of 9.16% and a negative net margin of 8.88%.The firm had revenue of $104.48 million during the quarter, compared to analysts’ expectations of $145.48 million. During the same period last year, the company earned ($0.47) earnings per share. The business’s revenue for the quarter was up 24.3% compared to the same quarter last year. As a group, equities research analysts forecast that Immunocore will post -0.94 EPS for the current year.

Insider Transactions at Immunocore

In other news, CEO Bahija Jallal sold 11,474 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $32.35, for a total transaction of $371,183.90. Following the transaction, the chief executive officer directly owned 12,343 shares in the company, valued at approximately $399,296.05. This trade represents a 48.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider David M. Berman sold 5,965 shares of Immunocore stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $32.35, for a total transaction of $192,967.75. Following the transaction, the insider directly owned 5,859 shares in the company, valued at approximately $189,538.65. The trade was a 50.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 19,137 shares of company stock valued at $619,082. Company insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On Immunocore

A number of institutional investors have recently added to or reduced their stakes in IMCR. GAMMA Investing LLC raised its holdings in Immunocore by 51.6% in the third quarter. GAMMA Investing LLC now owns 914 shares of the company’s stock worth $33,000 after purchasing an additional 311 shares in the last quarter. Harbour Investments Inc. grew its position in shares of Immunocore by 60.2% in the 4th quarter. Harbour Investments Inc. now owns 1,033 shares of the company’s stock worth $36,000 after buying an additional 388 shares during the last quarter. DNB Asset Management AS raised its stake in shares of Immunocore by 6.4% during the 3rd quarter. DNB Asset Management AS now owns 8,116 shares of the company’s stock worth $295,000 after acquiring an additional 488 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Immunocore by 37.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,120 shares of the company’s stock valued at $74,000 after acquiring an additional 572 shares during the last quarter. Finally, R Squared Ltd boosted its stake in Immunocore by 7.4% in the fourth quarter. R Squared Ltd now owns 8,849 shares of the company’s stock valued at $307,000 after acquiring an additional 606 shares in the last quarter. Institutional investors own 84.50% of the company’s stock.

About Immunocore

Immunocore plc is a clinical‐stage biotechnology company focused on the development of novel immunotherapies that harness the body’s own T‐cell response to treat cancer and infectious diseases. The company’s proprietary ImmTAC (immune mobilising monoclonal T‐cell receptors against cancer) platform utilizes engineered, soluble T‐cell receptor (TCR) molecules designed to recognise intracellular peptide–HLA complexes. By redirecting and activating T cells against disease‐associated targets, Immunocore aims to address malignancies and persistent viral infections with high unmet medical need.

The company’s most advanced candidate, tebentafusp, is a bispecific ImmTAC molecule that targets gp100, a melanoma‐associated antigen, and has received regulatory approval for the treatment of metastatic uveal melanoma.