Immunocore (NASDAQ:IMCR) Receives Equal Weight Rating from Morgan Stanley

Morgan Stanley reaffirmed their equal weight rating on shares of Immunocore (NASDAQ:IMCR) in a research report report published on Friday morning,Benzinga reports. Morgan Stanley currently has a $35.00 price target on the stock.

Several other analysts have also recently commented on the stock. Needham & Company LLC restated a “buy” rating and set a $71.00 price target on shares of Immunocore in a report on Thursday, February 27th. HC Wainwright restated a “buy” rating and set a $100.00 price target on shares of Immunocore in a report on Friday, February 28th. Finally, Mizuho cut 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 report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Immunocore has an average rating of “Moderate Buy” and a consensus price target of $65.64.

Immunocore Stock Performance

Shares of IMCR opened at $29.80 on Friday. Immunocore has a one year low of $27.69 and a one year high of $66.00. The company has a 50-day moving average of $30.16 and a two-hundred day moving average of $31.57. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of -31.37 and a beta of 0.79. The company has a debt-to-equity ratio of 1.03, a current ratio of 3.78 and a quick ratio of 3.76.

Institutional Trading of Immunocore

Several large investors have recently added to or reduced their stakes in IMCR. Wellington Management Group LLP grew 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 worth $219,430,000 after acquiring an additional 668,382 shares in the last quarter. Groupama Asset Managment bought a new stake in Immunocore in the fourth quarter worth approximately $17,700,000. Primecap Management Co. CA grew its position in Immunocore by 26.7% in the third quarter. Primecap Management Co. CA now owns 2,472,020 shares of the company’s stock worth $76,954,000 after acquiring an additional 520,950 shares in the last quarter. Deep Track Capital LP acquired a new stake in shares of Immunocore in the fourth quarter worth $15,322,000. Finally, Tang Capital Management LLC lifted its stake in shares of Immunocore by 40.7% in the fourth quarter. Tang Capital Management LLC now owns 1,555,600 shares of the company’s stock worth $45,890,000 after buying an additional 450,000 shares during 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.