Immunocore (NASDAQ:IMCR) Announces Quarterly Earnings Results

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

Immunocore Stock Performance

Shares of Immunocore stock traded up $0.83 during trading on Thursday, reaching $34.34. The company’s stock had a trading volume of 189,433 shares, compared to its average volume of 527,179. Immunocore has a 52 week low of $29.72 and a 52 week high of $76.98. The business’s 50-day moving average price is $32.67 and its 200-day moving average price is $39.70. 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 cap of $1.72 billion, a PE ratio of -32.14 and a beta of 0.72.

Analysts Set New Price Targets

A number of brokerages have recently commented on IMCR. Needham & Company LLC reduced their target price on shares of Immunocore from $78.00 to $71.00 and set a “buy” rating on the stock in a research report on Thursday. Morgan Stanley lowered their price target on shares of Immunocore from $80.00 to $74.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. JPMorgan Chase & Co. reduced their price target on shares of Immunocore from $70.00 to $66.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. HC Wainwright reissued a “buy” rating and issued a $100.00 price objective on shares of Immunocore in a research report on Thursday, October 24th. Finally, Barclays dropped their price objective on Immunocore from $92.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $73.73.

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.