Immunocore (NASDAQ:IMCR) Issues Earnings Results, Beats Expectations By $0.51 EPS

Key Points

• Big EPS beat but revenue miss: Immunocore reported Q earnings of $0.25 EPS versus a consensus of ($0.26), beating by $0.51, while revenue came in at $106.68M versus an estimated $145.03M (revenue was up 13.6% YoY but the company still shows negative net margin and ROE).
• Stock and analyst backdrop: Shares jumped about 6.6% to $30.73 after the print, but analysts are mixed — MarketBeat shows a consensus Hold and an average target price of $60.89.
• Significant insider selling: Insiders sold 19,137 shares in the quarter (including CEO Bahija Jallal selling 11,474 shares), cutting several individual stakes roughly 48–50%; insiders now own 10.4% of the company.

Immunocore (NASDAQ:IMCR - Get Free Report) released its quarterly earnings data on Wednesday. The company reported $0.25 EPS for the quarter, topping analysts' consensus estimates of ($0.26) by $0.51, FiscalAI reports. The firm had revenue of $106.68 million for the quarter, compared to the consensus estimate of $145.03 million. Immunocore had a negative net margin of 8.88% and a negative return on equity of 9.20%. The firm's revenue was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.10 earnings per share.

Immunocore Trading Up 6.6%

Shares of NASDAQ:IMCR traded up $1.89 during trading on Wednesday, reaching $30.73. The stock had a trading volume of 330,317 shares, compared to its average volume of 408,325. The business has a fifty day moving average price of $30.93 and a 200-day moving average price of $33.34. The company has a quick ratio of 4.01, a current ratio of 4.04 and a debt-to-equity ratio of 1.03. The stock has a market cap of $1.56 billion, a P/E ratio of -43.90 and a beta of 0.74. Immunocore has a fifty-two week low of $27.44 and a fifty-two week high of $40.71.

Insider Buying and Selling

In other Immunocore news, CEO Bahija Jallal sold 11,474 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $32.35, for a total transaction of $371,183.90. Following the transaction, the chief executive officer owned 12,343 shares of the company's stock, valued at $399,296.05. This trade represents a 48.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David M. Berman sold 5,965 shares of the stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $32.35, for a total transaction of $192,967.75. Following the transaction, the insider directly owned 5,859 shares in the company, valued at approximately $189,538.65. This represents a 50.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 19,137 shares of company stock valued at $619,082. Insiders own 10.40% of the company's stock.

Hedge Funds Weigh In On Immunocore

A number of large investors have recently bought and sold shares of the stock. XTX Topco Ltd purchased a new position in Immunocore during the fourth quarter worth approximately $763,000. Voloridge Investment Management LLC purchased a new position in Immunocore during the fourth quarter worth approximately $978,000. Vestal Point Capital LP purchased a new position in Immunocore during the fourth quarter worth approximately $20,305,000. Virtus Investment Advisers LLC raised its stake in Immunocore by 48.9% during the fourth quarter. Virtus Investment Advisers LLC now owns 18,569 shares of the company's stock worth $645,000 after purchasing an additional 6,097 shares during the period. Finally, Susquehanna Portfolio Strategies LLC raised its stake in Immunocore by 162.0% during the fourth quarter. Susquehanna Portfolio Strategies LLC now owns 27,607 shares of the company's stock worth $958,000 after purchasing an additional 17,069 shares during the period. Hedge funds and other institutional investors own 84.50% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on IMCR. UBS Group set a $55.00 price target on shares of Immunocore and gave the company a "buy" rating in a report on Wednesday, January 7th. Jefferies Financial Group downgraded shares of Immunocore from a "buy" rating to a "hold" rating and reduced their price target for the company from $48.00 to $33.00 in a report on Monday, March 16th. Wall Street Zen downgraded shares of Immunocore from a "buy" rating to a "hold" rating in a report on Saturday, January 31st. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Immunocore in a report on Tuesday, April 21st. Finally, Mizuho set a $38.00 price target on shares of Immunocore in a report on Thursday, February 19th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Immunocore currently has a consensus rating of "Hold" and an average target price of $60.89.

About Immunocore

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.

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