Brokerages Set Immunocore Holdings plc (NASDAQ:IMCR) Price Target at $65.64

Shares of Immunocore Holdings plc (NASDAQ:IMCR) have received an average recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $65.64.

A number of brokerages have recently weighed in on IMCR. Morgan Stanley reissued an “equal weight” rating and set a $35.00 price objective on shares of Immunocore in a research note on Friday, March 7th. HC Wainwright reissued a “buy” rating and set a $100.00 price target on shares of Immunocore in a research report on Wednesday, March 12th. Finally, Needham & Company LLC restated a “buy” rating and issued a $71.00 price objective on shares of Immunocore in a research report on Wednesday, March 12th.

Insiders Place Their Bets

In related news, Director Bros. Advisors Lp Baker purchased 807,338 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was purchased at an average price of $29.72 per share, with a total value of $23,994,085.36. Following the completion of the transaction, the director now owns 2,144,060 shares of the company’s stock, valued at approximately $63,721,463.20. This trade represents a 60.40 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 9.10% of the stock is owned by corporate insiders.

Institutional Trading of Immunocore

Several institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its holdings 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 acquiring an additional 668,382 shares during the last quarter. Groupama Asset Managment purchased a new position in shares of Immunocore in the 4th quarter worth about $17,700,000. Primecap Management Co. CA lifted its stake in shares of Immunocore by 26.7% in the 3rd quarter. Primecap Management Co. CA now owns 2,472,020 shares of the company’s stock valued at $76,954,000 after purchasing an additional 520,950 shares in the last quarter. Deep Track Capital LP purchased a new stake in shares of Immunocore during the 4th quarter worth about $15,322,000. Finally, Tang Capital Management LLC increased its position in Immunocore by 40.7% during the 4th quarter. Tang Capital Management LLC now owns 1,555,600 shares of the company’s stock worth $45,890,000 after purchasing an additional 450,000 shares in the last quarter. 84.50% of the stock is owned by hedge funds and other institutional investors.

Immunocore Stock Performance

NASDAQ:IMCR opened at $30.13 on Friday. The company has a current ratio of 3.78, a quick ratio of 3.76 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $1.51 billion, a P/E ratio of -31.72 and a beta of 0.79. The firm has a 50-day moving average price of $30.02 and a two-hundred day moving average price of $31.01. Immunocore has a twelve month low of $27.19 and a twelve month high of $66.00.

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.