Immunocore (NASDAQ:IMCR) Receives “Buy” Rating from Needham & Company LLC

Immunocore (NASDAQ:IMCR)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a report issued on Wednesday,Benzinga reports. They presently have a $71.00 price target on the stock. Needham & Company LLC’s price target would indicate a potential upside of 151.15% from the stock’s current price.

Several other equities research analysts have also recently issued reports on IMCR. Morgan Stanley reiterated an “equal weight” rating and issued a $35.00 price objective on shares of Immunocore in a report on Friday, March 7th. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 price target on shares of Immunocore in a research note on Wednesday. One research 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $65.64.

Immunocore Stock Performance

IMCR opened at $28.27 on Wednesday. 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 $1.41 billion, a price-to-earnings ratio of -29.76 and a beta of 0.79. Immunocore has a 52-week low of $27.19 and a 52-week high of $66.00. The firm’s fifty day simple moving average is $30.10 and its two-hundred day simple moving average is $31.43.

Hedge Funds Weigh In On Immunocore

A number of large investors have recently bought and sold shares of IMCR. GF Fund Management CO. LTD. acquired a new stake in shares of Immunocore in the 4th quarter valued at approximately $25,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of Immunocore by 12.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,393 shares of the company’s stock worth $248,000 after acquiring an additional 960 shares during the period. NEOS Investment Management LLC increased its stake in Immunocore by 10.9% in the 4th quarter. NEOS Investment Management LLC now owns 11,194 shares of the company’s stock valued at $330,000 after purchasing an additional 1,102 shares in the last quarter. Tema Etfs LLC acquired a new position in Immunocore during the fourth quarter worth $330,000. Finally, Virtus ETF Advisers LLC boosted its position in Immunocore by 39.0% during the fourth quarter. Virtus ETF Advisers LLC now owns 11,536 shares of the company’s stock worth $340,000 after purchasing an additional 3,238 shares in 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.