Immunocore (NASDAQ:IMCR) Issues Quarterly Earnings Results

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

Immunocore Trading Down 2.4 %

Shares of IMCR traded down $1.47 during trading hours on Thursday, hitting $59.85. 381,384 shares of the stock traded hands, compared to its average volume of 473,165. The firm has a market capitalization of $2.98 billion, a PE ratio of -51.46 and a beta of 0.92. Immunocore has a 1-year low of $42.21 and a 1-year high of $76.98. The business has a fifty day moving average of $60.76 and a 200-day moving average of $61.33. The company has a current ratio of 3.80, a quick ratio of 3.77 and a debt-to-equity ratio of 0.13.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Immunocore from $60.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. Needham & Company LLC reissued a “buy” rating and set a $81.00 price objective on shares of Immunocore in a report on Thursday. Leerink Partnrs reaffirmed an “outperform” rating on shares of Immunocore in a research note on Monday, April 29th. SVB Leerink assumed coverage on Immunocore in a research report on Monday, April 29th. They issued an “outperform” rating and a $74.00 target price for the company. Finally, Mizuho lifted their price target on Immunocore from $86.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $82.00.

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.