Immunocore (NASDAQ:IMCR) Posts Earnings Results, Beats Estimates By $0.32 EPS

Immunocore (NASDAQ:IMCR) released its earnings results on Thursday. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.32, reports. The firm had revenue of $135.80 million during the quarter, compared to analysts’ expectations of $137.29 million. Immunocore had a negative return on equity of 7.77% and a negative net margin of 7.70%.The firm’s revenue was up 29.2% on a year-over-year basis. During the same quarter last year, the business posted $0.17 earnings per share.

Immunocore Trading Up 6.0%

Shares of NASDAQ IMCR traded up $1.91 during trading hours on Friday, hitting $33.50. 334,016 shares of the company traded hands, compared to its average volume of 313,066. The company’s 50 day moving average price is $33.83 and its 200 day moving average price is $33.15. Immunocore has a 12 month low of $23.15 and a 12 month high of $39.33. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of -58.77 and a beta of 0.78. The company has a current ratio of 5.89, a quick ratio of 5.86 and a debt-to-equity ratio of 1.01.

Insider Buying and Selling at Immunocore

In other news, insider David M. Berman sold 22,532 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $35.67, for a total value of $803,716.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 10.40% of the company’s stock.

Institutional Trading of Immunocore

Institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its position in Immunocore by 45.1% during the first quarter. Royal Bank of Canada now owns 44,011 shares of the company’s stock valued at $1,306,000 after purchasing an additional 13,689 shares in the last quarter. Geode Capital Management LLC raised its holdings in Immunocore by 40.1% in the second quarter. Geode Capital Management LLC now owns 52,001 shares of the company’s stock worth $1,632,000 after purchasing an additional 14,877 shares in the last quarter. Marshall Wace LLP grew its stake in Immunocore by 425.8% during the 2nd quarter. Marshall Wace LLP now owns 146,610 shares of the company’s stock valued at $4,601,000 after purchasing an additional 118,728 shares during the last quarter. Sei Investments Co. acquired a new position in shares of Immunocore in the second quarter valued at about $983,000. Finally, Cubist Systematic Strategies LLC raised its stake in shares of Immunocore by 108.0% in the second quarter. Cubist Systematic Strategies LLC now owns 142,757 shares of the company’s stock worth $4,480,000 after purchasing an additional 74,128 shares during the last quarter. Institutional investors own 84.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wall Street Zen upgraded Immunocore from a “hold” rating to a “buy” rating in a research note on Saturday. Wells Fargo & Company initiated coverage on shares of Immunocore in a research note on Friday, October 31st. They set an “overweight” rating and a $60.00 target price for the company. HC Wainwright reiterated a “buy” rating and issued a $100.00 price target on shares of Immunocore in a research note on Wednesday, October 22nd. Jefferies Financial Group started coverage on shares of Immunocore in a report on Monday, August 25th. They set a “buy” rating and a $48.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Immunocore in a report on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.89.

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.