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

Needham & Company LLC restated their buy rating on shares of Immunocore (NASDAQ:IMCR) in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $71.00 price objective on the stock.

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

Immunocore Stock Performance

Shares of Immunocore stock opened at $29.05 on Wednesday. The company has a market capitalization of $1.45 billion, a PE ratio of -30.58 and a beta of 0.79. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.76 and a current ratio of 3.78. The company has a 50-day simple moving average of $30.13 and a two-hundred day simple moving average of $31.45. Immunocore has a one year low of $27.19 and a one year high of $66.00.

Institutional Investors Weigh In On Immunocore

A number of large investors have recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in Immunocore by 10.5% in the third quarter. Wellington Management Group LLP now owns 7,048,833 shares of the company’s stock valued at $219,430,000 after buying an additional 668,382 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its position in Immunocore by 3.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,700,208 shares of the company’s stock valued at $197,657,000 after buying an additional 200,373 shares during the last quarter. FMR LLC boosted its position in Immunocore by 0.5% in the third quarter. FMR LLC now owns 4,836,040 shares of the company’s stock valued at $150,546,000 after buying an additional 23,436 shares during the last quarter. Primecap Management Co. CA boosted its position in Immunocore by 8.0% in the fourth quarter. Primecap Management Co. CA now owns 2,668,550 shares of the company’s stock valued at $78,722,000 after buying an additional 196,530 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Immunocore by 1.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,187,530 shares of the company’s stock valued at $64,533,000 after buying an additional 29,832 shares during the last quarter. Hedge funds and other 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.