Immunocore (NASDAQ:IMCR) Posts Earnings Results, Beats Expectations By $0.50 EPS

Immunocore (NASDAQ:IMCR) released its quarterly earnings data on Wednesday. The company reported $0.17 EPS for the quarter, beating the consensus estimate of ($0.33) by $0.50, Briefing.com reports. The company had revenue of $80.25 million during the quarter, compared to the consensus estimate of $78.94 million. Immunocore had a negative return on equity of 14.68% and a negative net margin of 19.16%. The firm’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.59) EPS.

Immunocore Price Performance

Shares of NASDAQ:IMCR traded up $0.80 during midday trading on Thursday, hitting $34.31. The stock had a trading volume of 217,058 shares, compared to its average volume of 527,404. The company has a quick ratio of 5.15, a current ratio of 5.17 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $1.72 billion, a P/E ratio of -32.14 and a beta of 0.72. The company’s 50-day moving average price is $32.67 and its 200-day moving average price is $39.70. Immunocore has a fifty-two week low of $29.72 and a fifty-two week high of $76.98.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on IMCR. Cantor Fitzgerald reissued an “overweight” rating on shares of Immunocore in a research report on Monday, September 9th. JPMorgan Chase & Co. lowered their price target on Immunocore from $70.00 to $66.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. UBS Group started coverage on Immunocore in a research note on Thursday, October 24th. They set a “sell” rating and a $24.00 target price for the company. Guggenheim downgraded Immunocore from a “buy” rating to a “neutral” rating in a report on Monday, October 7th. Finally, Barclays decreased their price objective on shares of Immunocore from $92.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $73.73.

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.