Immunocore (NASDAQ:IMCR) Releases Earnings Results, Beats Expectations By $0.32 EPS

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

Immunocore Trading Up 6.0%

Shares of NASDAQ IMCR traded up $1.91 during mid-day trading on Friday, hitting $33.50. 334,016 shares of the company traded hands, compared to its average volume of 313,066. The company has a quick ratio of 5.86, a current ratio of 5.89 and a debt-to-equity ratio of 1.01. Immunocore has a 1 year low of $23.15 and a 1 year high of $39.33. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of -58.77 and a beta of 0.78. The business has a 50 day moving average of $33.83 and a two-hundred day moving average of $33.15.

Insider Transactions at Immunocore

In other news, insider David M. Berman sold 22,532 shares of Immunocore stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $35.67, for a total value of $803,716.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 10.40% of the company’s stock.

Institutional Trading of Immunocore

Hedge funds and other institutional investors have recently modified their holdings of the business. Marshall Wace LLP boosted its position in Immunocore by 425.8% during the 2nd quarter. Marshall Wace LLP now owns 146,610 shares of the company’s stock worth $4,601,000 after acquiring an additional 118,728 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Immunocore during the second quarter worth $2,789,000. Cubist Systematic Strategies LLC raised its holdings in shares of Immunocore by 108.0% during the second quarter. Cubist Systematic Strategies LLC now owns 142,757 shares of the company’s stock worth $4,480,000 after acquiring an additional 74,128 shares in the last quarter. Sei Investments Co. acquired a new stake in Immunocore during the second quarter valued at $983,000. Finally, Oxford Asset Management LLP purchased a new position in Immunocore in the second quarter valued at about $661,000. Institutional investors and hedge funds own 84.50% of the company’s stock.

Wall Street Analysts Forecast Growth

IMCR has been the subject of several recent analyst reports. Wells Fargo & Company initiated coverage on shares of Immunocore in a research note on Friday, October 31st. They set an “overweight” rating and a $60.00 price objective on the stock. Zacks Research lowered Immunocore from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. HC Wainwright reiterated a “buy” rating and set a $100.00 price target on shares of Immunocore in a research report on Wednesday, October 22nd. Jefferies Financial Group initiated coverage on Immunocore in a report on Monday, August 25th. They issued a “buy” rating and a $48.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Immunocore in a research note on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $60.89.

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.