Immunocore (NASDAQ:IMCR) Announces Earnings Results

Immunocore (NASDAQ:IMCR) issued its quarterly earnings data on Thursday. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.32, reports. Immunocore had a negative net margin of 7.70% and a negative return on equity of 7.77%. The company had revenue of $135.80 million during the quarter, compared to the consensus estimate of $137.29 million. During the same quarter last year, the company earned $0.17 earnings per share. Immunocore’s revenue for the quarter was up 29.2% on a year-over-year basis.

Immunocore Stock Performance

Shares of Immunocore stock traded up $1.91 during trading hours on Friday, reaching $33.50. The company’s stock had a trading volume of 334,016 shares, compared to its average volume of 313,066. Immunocore has a one year low of $23.15 and a one year high of $39.33. The company’s 50 day simple moving average is $33.83 and its 200 day simple moving average is $33.15. The company has a debt-to-equity ratio of 1.01, a quick ratio of 5.86 and a current ratio of 5.89. The stock has a market cap of $1.69 billion, a P/E ratio of -58.77 and a beta of 0.78.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on IMCR. Guggenheim assumed coverage on shares of Immunocore in a report on Thursday, September 18th. They issued a “neutral” rating on the stock. Wall Street Zen upgraded Immunocore from a “hold” rating to a “buy” rating in a research note on Saturday. Jefferies Financial Group began coverage on Immunocore in a report on Monday, August 25th. They issued a “buy” rating and a $48.00 price target for the company. Zacks Research lowered Immunocore from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Immunocore in a research report on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Immunocore currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.89.

Insiders Place Their Bets

In other Immunocore news, insider David M. Berman sold 22,532 shares of Immunocore stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $35.67, for a total value of $803,716.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in IMCR. Orion Porfolio Solutions LLC lifted its stake in Immunocore by 4.5% in the second quarter. Orion Porfolio Solutions LLC now owns 23,965 shares of the company’s stock valued at $752,000 after buying an additional 1,031 shares during the last quarter. Osaic Holdings Inc. grew its position in shares of Immunocore by 117.4% during the second quarter. Osaic Holdings Inc. now owns 3,148 shares of the company’s stock worth $97,000 after acquiring an additional 1,700 shares during the last quarter. State of Tennessee Department of Treasury acquired a new stake in shares of Immunocore in the 2nd quarter worth about $132,000. Royal Bank of Canada lifted its position in Immunocore by 45.1% in the 1st quarter. Royal Bank of Canada now owns 44,011 shares of the company’s stock valued at $1,306,000 after purchasing an additional 13,689 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new position in Immunocore during the 2nd quarter valued at about $463,000. 84.50% of the stock is currently owned by institutional investors.

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.