Immunocore (NASDAQ:IMCR) Stock Price Expected to Rise, Oppenheimer Analyst Says

Immunocore (NASDAQ:IMCR) had its target price increased by equities researchers at Oppenheimer from $85.00 to $86.00 in a report released on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s target price points to a potential upside of 202.82% from the company’s current price.

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

Immunocore Price Performance

Shares of Immunocore stock opened at $28.40 on Thursday. The firm has a market capitalization 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 12 month low of $23.15 and a 12 month high of $60.25. The business’s 50-day moving average price is $28.81 and its 200-day moving average price is $30.17.

Immunocore (NASDAQ:IMCR) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.45. Immunocore had a negative net margin of 15.87% and a negative return on equity of 12.84%. The business had revenue of $125.13 million for the quarter, compared to analysts’ expectations of $108.82 million. During the same period last year, the business earned ($0.49) earnings per share. The business’s quarterly revenue was up 33.6% on a year-over-year basis. Sell-side analysts forecast that Immunocore will post -0.94 EPS for the current fiscal year.

Insider Transactions at Immunocore

In other Immunocore news, Director Bros. Advisors Lp Baker bought 807,338 shares of Immunocore stock in a transaction dated Monday, March 17th. The shares were purchased at an average cost of $29.72 per share, with a total value of $23,994,085.36. Following the transaction, the director now directly owns 2,144,060 shares of the company’s stock, valued at $63,721,463.20. This represents a 60.40 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On Immunocore

Institutional investors and hedge funds have recently made changes to their positions in the business. GF Fund Management CO. LTD. bought a new stake in Immunocore in the fourth quarter worth $25,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Immunocore during the first quarter valued at approximately $225,000. China Universal Asset Management Co. Ltd. lifted its position in Immunocore by 12.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,393 shares of the company’s stock valued at $248,000 after acquiring an additional 960 shares in the last quarter. NEOS Investment Management LLC lifted its position 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 acquiring an additional 1,102 shares in the last quarter. Finally, Tema Etfs LLC bought a new stake in shares of Immunocore in the 4th quarter worth $330,000. 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.