Immunocore (NASDAQ:IMCR) Announces Quarterly Earnings Results, Misses Expectations By $0.12 EPS

Immunocore (NASDAQ:IMCR) released its quarterly earnings results on Wednesday. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.12), Briefing.com reports. The business had revenue of $70.30 million during the quarter, compared to analyst estimates of $70.72 million. Immunocore had a negative net margin of 22.48% and a negative return on equity of 15.78%. The firm’s quarterly revenue was up 27.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.35) earnings per share.

Immunocore Price Performance

NASDAQ:IMCR traded down $1.42 during trading hours on Thursday, reaching $59.90. 358,946 shares of the company were exchanged, compared to its average volume of 472,893. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.80 and a quick ratio of 3.77. Immunocore has a 1-year low of $42.21 and a 1-year high of $76.98. The company has a market capitalization of $2.98 billion, a P/E ratio of -52.45 and a beta of 0.92. The business has a 50 day moving average of $60.76 and a 200 day moving average of $61.33.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Immunocore from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Canaccord Genuity Group boosted their price target on shares of Immunocore from $60.00 to $63.00 and gave the company a “hold” rating in a research report on Thursday, February 29th. Oppenheimer reiterated an “outperform” rating and set a $87.00 price target (up previously from $85.00) on shares of Immunocore in a report on Thursday, February 29th. Mizuho upped their price objective on Immunocore from $86.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $81.00 target price on shares of Immunocore in a research report on Thursday. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Immunocore presently has an average rating of “Moderate Buy” and an average price target of $81.69.

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.