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

Immunocore (NASDAQ:IMCR) posted its 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 firm had revenue of $70.30 million during the quarter, compared to the consensus estimate 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 revenue was up 27.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.35) EPS.

Immunocore Price Performance

Shares of NASDAQ IMCR traded down $0.48 during mid-day trading on Thursday, hitting $60.84. 295,937 shares of the company’s stock traded hands, compared to its average volume of 472,288. The company has a market capitalization of $3.03 billion, a P/E ratio of -52.86 and a beta of 0.92. Immunocore has a 1 year low of $42.21 and a 1 year high of $76.98. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.80 and a quick ratio of 3.77. The company’s 50-day moving average is $60.76 and its two-hundred day moving average is $61.33.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on IMCR. Canaccord Genuity Group raised their price objective on shares of Immunocore from $60.00 to $63.00 and gave the stock a “hold” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. lifted their target price on Immunocore from $60.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Oppenheimer reiterated an “outperform” rating and issued a $87.00 price target (up from $85.00) on shares of Immunocore in a research report on Thursday, February 29th. HC Wainwright reissued a “buy” rating and issued a $90.00 price objective on shares of Immunocore in a research note on Wednesday, March 6th. Finally, SVB Leerink started coverage on shares of Immunocore in a research note on Monday, April 29th. They set an “outperform” rating and a $74.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Immunocore currently has an average rating of “Moderate Buy” and an average price target of $80.92.

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.