Immunocore (NASDAQ:IMCR) Announces Quarterly Earnings Results

Immunocore (NASDAQ:IMCR) announced its quarterly earnings results on Thursday. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01), FiscalAI reports. The company had revenue of $115.93 million during the quarter, compared to analyst estimates of $148.44 million. Immunocore had a negative return on equity of 7.07% and a negative net margin of 6.68%.

Here are the key takeaways from Immunocore’s conference call:

• Positive Sentiment: KIMMTRAK first-half net revenue rose 16% year over year to $223 million, including $116 million in Q2, supported by continued U.S. community demand and penetration above 70% in major markets.
• Positive Sentiment: Five-year data showed KIMMTRAK doubled the likelihood of survival at five years versus investigator’s choice in HLA-A2-positive metastatic uveal melanoma, with overall survival of 16% versus 8%.
• Positive Sentiment: Enrollment in the pivotal TEBE-AM trial for previously treated advanced cutaneous melanoma is nearly complete, with headline overall-survival data potentially available by year-end 2026; ATOM and PRISM-MEL-301 also continue to advance.
• Neutral Sentiment: Immunocore expects first-patient dosing of its type 1 diabetes candidate in the coming weeks, plans to submit a CTA for a second autoimmune candidate by year-end, and expects updated HIV data in the first half of 2027.
• Negative Sentiment: Q2 U.S. sales benefited from approximately $6 million of distributor inventory stocking, creating a headwind for Q3, while the company expects roughly $120 million in sales-related rebate payments during the second half of 2026.

Immunocore Price Performance

Immunocore stock traded down $0.95 during mid-day trading on Friday, hitting $33.55. 94,501 shares of the company were exchanged, compared to its average volume of 467,260. The company has a market capitalization of $1.71 billion, a PE ratio of -61.00 and a beta of 0.74. The business has a fifty day moving average of $31.54 and a 200 day moving average of $31.33. Immunocore has a 1-year low of $27.56 and a 1-year high of $40.71. The company has a quick ratio of 4.15, a current ratio of 4.18 and a debt-to-equity ratio of 1.00.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on IMCR. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Immunocore in a research report on Friday, July 17th. Morgan Stanley set a $43.00 price objective on shares of Immunocore in a research note on Friday. Wall Street Zen downgraded shares of Immunocore from a “buy” rating to a “hold” rating in a report on Tuesday, July 28th. HC Wainwright reiterated a “buy” rating and issued a $100.00 target price on shares of Immunocore in a report on Monday, April 20th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Immunocore in a research report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Immunocore has a consensus rating of “Moderate Buy” and a consensus target price of $57.29.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Primecap Management Co. CA raised its position in Immunocore by 5.5% in the 4th quarter. Primecap Management Co. CA now owns 3,961,880 shares of the company’s stock valued at $137,517,000 after purchasing an additional 207,320 shares during the last quarter. Bellevue Group AG raised its stake in shares of Immunocore by 14.5% during the third quarter. Bellevue Group AG now owns 2,796,803 shares of the company’s stock worth $101,608,000 after buying an additional 354,973 shares during the last quarter. Tang Capital Management LLC lifted its stake in shares of Immunocore by 14.0% in the 4th quarter. Tang Capital Management LLC now owns 2,628,538 shares of the company’s stock valued at $91,237,000 after purchasing an additional 322,930 shares during the period. Millennium Management LLC boosted its holdings in Immunocore by 334.3% during the third quarter. Millennium Management LLC now owns 1,265,965 shares of the company’s stock worth $45,993,000 after buying an additional 974,463 shares during the last quarter. Finally, Armistice Capital LLC boosted its stake in Immunocore by 21.5% during the 3rd quarter. Armistice Capital LLC now owns 824,000 shares of the company’s stock worth $29,936,000 after acquiring an additional 146,000 shares during the last quarter. 84.50% of the stock is owned by institutional investors and hedge funds.

Immunocore Company Profile

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.