Immunocore Holdings plc to Post Q1 2024 Earnings of ($0.49) Per Share, Leerink Partnrs Forecasts (NASDAQ:IMCR)

Immunocore Holdings plc (NASDAQ:IMCR) – Leerink Partnrs issued their Q1 2024 earnings estimates for shares of Immunocore in a report released on Monday, April 29th. Leerink Partnrs analyst J. Chang expects that the company will post earnings of ($0.49) per share for the quarter. Leerink Partnrs currently has a “Outperform” rating on the stock. The consensus estimate for Immunocore’s current full-year earnings is ($1.55) per share. Leerink Partnrs also issued estimates for Immunocore’s Q2 2024 earnings at ($0.41) EPS, Q3 2024 earnings at ($0.44) EPS, Q4 2024 earnings at ($0.24) EPS, FY2024 earnings at ($1.58) EPS and FY2025 earnings at ($2.14) EPS.

Immunocore (NASDAQ:IMCR) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.12). The firm had revenue of $70.16 million for the quarter, compared to the consensus estimate of $53.25 million. Immunocore had a negative return on equity of 15.78% and a negative net margin of 22.48%. The company’s revenue was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.63) EPS.

A number of other brokerages have also recently issued reports on IMCR. Needham & Company LLC reissued a “buy” rating and issued a $81.00 target price on shares of Immunocore in a research report on Thursday, April 11th. Oppenheimer restated an “outperform” rating and set a $87.00 price objective (up previously from $85.00) on shares of Immunocore in a research note on Thursday, February 29th. HC Wainwright reissued a “buy” rating and set a $90.00 target price on shares of Immunocore in a report on Wednesday, March 6th. SVB Leerink started coverage on Immunocore in a research note on Monday, April 29th. They issued an “outperform” rating and a $74.00 price target for the company. Finally, Canaccord Genuity Group raised their target price on shares of Immunocore from $60.00 to $63.00 and gave the company a “hold” rating in a report on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $80.92.

Immunocore Stock Performance

Shares of NASDAQ IMCR opened at $60.23 on Thursday. 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 firm has a market cap of $3.00 billion, a price-to-earnings ratio of -51.92 and a beta of 0.92. The stock’s fifty day moving average price is $61.48 and its two-hundred day moving average price is $60.93. Immunocore has a one year low of $42.21 and a one year high of $76.98.

Institutional Investors Weigh In On Immunocore

Hedge funds have recently modified their holdings of the company. FORA Capital LLC bought a new position in Immunocore in the first quarter valued at about $777,000. Capstone Investment Advisors LLC bought a new stake in Immunocore during the first quarter valued at $1,227,000. Principal Financial Group Inc. grew its stake in Immunocore by 7.0% during the first quarter. Principal Financial Group Inc. now owns 517,204 shares of the company’s stock worth $33,618,000 after purchasing an additional 33,868 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of Immunocore by 69.8% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,621 shares of the company’s stock valued at $430,000 after acquiring an additional 2,721 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Immunocore by 2.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 87,614 shares of the company’s stock valued at $5,695,000 after purchasing an additional 1,830 shares in the last quarter. Institutional investors and hedge funds own 84.50% of the company’s stock.

Immunocore Company Profile

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.