Immunocore (NASDAQ:IMCR) Issues Quarterly Earnings Results, Beats Estimates By $0.50 EPS

Immunocore (NASDAQ:IMCR) released its quarterly earnings results on Wednesday. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.50, Briefing.com reports. Immunocore had a negative net margin of 19.16% and a negative return on equity of 14.68%. The firm had revenue of $80.25 million for the quarter, compared to analyst estimates of $78.94 million. During the same period in the previous year, the business earned ($0.59) earnings per share. The company’s revenue for the quarter was up 23.7% compared to the same quarter last year.

Immunocore Stock Up 2.4 %

Shares of IMCR traded up $0.80 on Thursday, hitting $34.31. The company’s stock had a trading volume of 217,058 shares, compared to its average volume of 527,404. The firm’s fifty day moving average price is $32.67 and its 200-day moving average price is $39.70. Immunocore has a fifty-two week low of $29.72 and a fifty-two week high of $76.98. The company has a quick ratio of 5.15, a current ratio of 5.17 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of -32.14 and a beta of 0.72.

Analyst Upgrades and Downgrades

IMCR has been the topic of a number of research analyst reports. JPMorgan Chase & Co. decreased their price target on Immunocore from $70.00 to $66.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunocore in a report on Monday, September 9th. Oppenheimer reissued an “outperform” rating and set a $89.00 price objective (up previously from $87.00) on shares of Immunocore in a report on Friday, August 9th. Needham & Company LLC dropped their target price on shares of Immunocore from $78.00 to $71.00 and set a “buy” rating for the company in a research note on Thursday. Finally, UBS Group initiated coverage on shares of Immunocore in a research note on Thursday, October 24th. They set a “sell” rating and a $24.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $73.73.

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.