Immunocore (NASDAQ:IMCR) Announces Quarterly Earnings Results, Misses Estimates By $0.10 EPS

Immunocore (NASDAQ:IMCR) released its quarterly earnings data on Friday. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.10), FiscalAI reports. The firm had revenue of $102.22 million for the quarter, compared to analysts’ expectations of $152.20 million. Immunocore had a negative return on equity of 4.54% and a negative net margin of 4.20%.

Immunocore Trading Up 9.1%

IMCR opened at $30.99 on Friday. The company has a current ratio of 4.47, a quick ratio of 4.44 and a debt-to-equity ratio of 0.94. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -47.68 and a beta of 0.82. Immunocore has a 12 month low of $27.50 and a 12 month high of $40.71. The stock has a fifty day moving average price of $31.64 and a 200-day moving average price of $31.73.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on IMCR. TD Cowen upgraded Immunocore to a “strong-buy” rating in a report on Monday, August 24th. JPMorgan Chase & Co. began coverage on Immunocore in a research note on Friday, August 21st. They set an “overweight” rating and a $50.00 price target on the stock. Morgan Stanley set a $43.00 price objective on Immunocore in a report on Friday, August 7th. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Immunocore in a research note on Monday, October 26th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunocore in a report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.86.

Immunocore Company Profile

Immunocore Holdings plc is a biotechnology company that develops T cell receptor (TCR) therapeutics designed to direct the immune system against cancer and other serious diseases. Its proprietary ImmTAC platform uses engineered TCRs to recognize disease-associated peptides presented on the surface of cells and recruit T cells to attack those cells.

The company’s lead product, KIMMTRAK (tebentafusp-tebn), is an ImmTAC therapy approved in the United States and other markets for the treatment of certain adults with unresectable or metastatic uveal melanoma who have a specific HLA-A*02:01 genotype.