Immunocore (NASDAQ:IMCR) Issues Quarterly Earnings Results, Beats Expectations By $0.51 EPS

Immunocore (NASDAQ:IMCR) released its earnings results on Wednesday. The company reported $0.25 EPS for the quarter, topping the consensus estimate of ($0.26) by $0.51, FiscalAI reports. Immunocore had a negative return on equity of 9.20% and a negative net margin of 8.88%.The business had revenue of $106.68 million during the quarter, compared to analysts’ expectations of $145.03 million. During the same quarter last year, the firm posted $0.10 earnings per share. The firm’s revenue was up 13.6% on a year-over-year basis.

Immunocore Stock Up 6.6%

Shares of IMCR stock traded up $1.89 during trading hours on Wednesday, reaching $30.73. The company had a trading volume of 330,317 shares, compared to its average volume of 408,325. Immunocore has a 12 month low of $27.44 and a 12 month high of $40.71. The company has a debt-to-equity ratio of 1.03, a current ratio of 4.04 and a quick ratio of 4.01. The business has a fifty day simple moving average of $30.93 and a 200-day simple moving average of $33.34. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -43.90 and a beta of 0.74.

Wall Street Analysts Forecast Growth

IMCR has been the subject of several recent analyst reports. Zacks Research cut Immunocore from a “hold” rating to a “strong sell” rating in a research note on Monday, April 27th. Needham & Company LLC raised their price objective on Immunocore from $71.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Jefferies Financial Group cut Immunocore from a “buy” rating to a “hold” rating and reduced their price objective for the company from $48.00 to $33.00 in a research note on Monday, March 16th. UBS Group set a $55.00 price objective on Immunocore and gave the company a “buy” rating in a research note on Wednesday, January 7th. Finally, Mizuho set a $38.00 price objective on Immunocore in a research note on Thursday, February 19th. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $60.89.

Insider Activity

In other news, insider David M. Berman sold 5,965 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $32.35, for a total value of $192,967.75. Following the transaction, the insider owned 5,859 shares in the company, valued at $189,538.65. This trade represents a 50.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Bahija Jallal sold 11,474 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $32.35, for a total value of $371,183.90. Following the completion of the transaction, the chief executive officer owned 12,343 shares in the company, valued at $399,296.05. This represents a 48.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 19,137 shares of company stock worth $619,082 over the last 90 days. 10.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. XTX Topco Ltd bought a new position in shares of Immunocore in the fourth quarter valued at approximately $763,000. Voloridge Investment Management LLC bought a new position in shares of Immunocore in the fourth quarter valued at approximately $978,000. Vestal Point Capital LP bought a new position in shares of Immunocore in the fourth quarter valued at approximately $20,305,000. Virtus Investment Advisers LLC lifted its holdings in Immunocore by 48.9% during the fourth quarter. Virtus Investment Advisers LLC now owns 18,569 shares of the company’s stock worth $645,000 after acquiring an additional 6,097 shares during the period. Finally, Susquehanna Portfolio Strategies LLC lifted its holdings in Immunocore by 162.0% during the fourth quarter. Susquehanna Portfolio Strategies LLC now owns 27,607 shares of the company’s stock worth $958,000 after acquiring an additional 17,069 shares during the period. Institutional investors own 84.50% of the company’s stock.

About Immunocore

Immunocore plc is a clinical‐stage biotechnology company focused on the development of novel immunotherapies that harness the body’s own T‐cell response to treat cancer and infectious diseases. The company’s proprietary ImmTAC (immune mobilising monoclonal T‐cell receptors against cancer) platform utilizes engineered, soluble T‐cell receptor (TCR) molecules designed to recognise intracellular peptide–HLA complexes. By redirecting and activating T cells against disease‐associated targets, Immunocore aims to address malignancies and persistent viral infections with high unmet medical need.

The company’s most advanced candidate, tebentafusp, is a bispecific ImmTAC molecule that targets gp100, a melanoma‐associated antigen, and has received regulatory approval for the treatment of metastatic uveal melanoma.