ImmuCell (NASDAQ:ICCC) Announces Earnings Results, Beats Estimates By $0.15 EPS

Key Points

• ImmuCell beat quarterly estimates: The biotechnology company reported EPS of $0.20, exceeding the $0.05 consensus by $0.15. Revenue reached $7.19 million versus analyst expectations of $5.40 million.
• Shares traded near $10.90, with the stock valued at approximately $98.64 million. Despite improved earnings, ImmuCell posted a negative net margin of 1.82% and negative return on equity of 1.88%.
• Investor sentiment remains mixed: CEO Paul Francis Oliv Boekhorst purchased 8,000 shares, while Geode Capital increased its position by 4.2%. However, MarketBeat analysts maintain an overall “Sell” rating, with one firm reiterating a sell recommendation and another issuing a strong-buy upgrade.

ImmuCell (NASDAQ:ICCC - Get Free Report) released its earnings results on Thursday. The biotechnology company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.15, FiscalAI reports. ImmuCell had a negative net margin of 1.82% and a negative return on equity of 1.88%. The firm had revenue of $7.19 million during the quarter, compared to analyst estimates of $5.40 million.

ImmuCell Price Performance

Shares of ICCC traded down $0.08 during mid-day trading on Thursday, reaching $10.90. The stock had a trading volume of 44,696 shares, compared to its average volume of 24,272. The firm has a market cap of $98.64 million, a price-to-earnings ratio of -181.64 and a beta of 0.54. ImmuCell has a 12 month low of $4.52 and a 12 month high of $12.10. The business has a fifty day moving average of $10.48 and a 200 day moving average of $8.47. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.60 and a current ratio of 4.82.

Insider Activity at ImmuCell

In other news, CEO Boekhorst Paul Francis Oliv Te acquired 8,000 shares of the firm's stock in a transaction dated Thursday, June 18th. The shares were purchased at an average cost of $9.49 per share, for a total transaction of $75,920.00. Following the transaction, the chief executive officer directly owned 17,785 shares of the company's stock, valued at approximately $168,779.65. This trade represents a 81.76% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.70% of the stock is owned by insiders.

Institutional Investors Weigh In On ImmuCell

An institutional investor recently raised its position in ImmuCell stock. Geode Capital Management LLC grew its holdings in ImmuCell Corporation (NASDAQ:ICCC - Free Report) by 4.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,852 shares of the biotechnology company's stock after acquiring an additional 2,907 shares during the period. Geode Capital Management LLC owned about 0.79% of ImmuCell worth $500,000 as of its most recent filing with the Securities & Exchange Commission. 13.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of ImmuCell in a research note on Thursday, July 2nd. Wall Street Zen upgraded ImmuCell to a "strong-buy" rating in a research report on Saturday, June 27th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of "Sell".

ImmuCell Company Profile

ImmuCell Corporation NASDAQ: ICCC is a biotechnology company that develops, manufactures, and markets immunological products and diagnostic assays designed to enhance animal health in dairy and beef cattle. Headquartered in Portland, Maine, the company focuses on supporting herd health management through its portfolio of passive immunology solutions and veterinary diagnostics.

The company's flagship offering, CalfGuard natural colostrum supplement, is formulated to promote the passive transfer of antibodies in newborn calves and reduce the incidence of neonatal diseases.

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