Oppenheimer Forecasts Strong Price Appreciation for Immunocore (NASDAQ:IMCR) Stock

Immunocore (NASDAQ:IMCR) had its price objective increased by Oppenheimer from $85.00 to $86.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s target price indicates a potential upside of 202.82% from the stock’s current price.

IMCR has been the topic of a number of other research reports. Mizuho dropped their price objective on shares of Immunocore from $38.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Needham & Company LLC reissued a “buy” rating and set a $71.00 price objective on shares of Immunocore in a research report on Thursday, April 10th. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 target price on shares of Immunocore in a report on Wednesday, March 12th. JPMorgan Chase & Co. lowered their target price on Immunocore from $54.00 to $50.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $35.00 price target on shares of Immunocore in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Immunocore presently has an average rating of “Moderate Buy” and an average price target of $58.13.

Immunocore Price Performance

Shares of IMCR opened at $28.40 on Thursday. The firm has a fifty day simple moving average of $28.81 and a two-hundred day simple moving average of $30.17. The firm has a market cap of $1.42 billion, a PE ratio of -29.89 and a beta of 0.75. The company has a current ratio of 3.78, a quick ratio of 3.76 and a debt-to-equity ratio of 1.03. Immunocore has a 1-year low of $23.15 and a 1-year high of $60.25.

Immunocore (NASDAQ:IMCR) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.45. The company had revenue of $125.13 million during the quarter, compared to analysts’ expectations of $108.82 million. Immunocore had a negative return on equity of 12.84% and a negative net margin of 15.87%. Immunocore’s revenue for the quarter was up 33.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.49) earnings per share. On average, equities analysts anticipate that Immunocore will post -0.94 EPS for the current year.

Insider Buying and Selling at Immunocore

In other news, Director Bros. Advisors Lp Baker acquired 807,338 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were acquired at an average cost of $29.72 per share, with a total value of $23,994,085.36. Following the acquisition, the director now directly owns 2,144,060 shares of the company’s stock, valued at approximately $63,721,463.20. The trade was a 60.40 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 10.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Groupama Asset Managment bought a new stake in shares of Immunocore in the 4th quarter valued at approximately $17,700,000. Deep Track Capital LP bought a new stake in Immunocore in the fourth quarter worth $15,322,000. Tang Capital Management LLC boosted its stake in Immunocore by 40.7% during 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 period. Point72 Asset Management L.P. bought a new position in Immunocore during the fourth quarter valued at $11,897,000. Finally, T. Rowe Price Investment Management Inc. raised its stake in shares of 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 acquiring an additional 200,373 shares during the period. Hedge funds and other institutional investors own 84.50% of the company’s stock.

Immunocore Company Profile

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.