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AAPL   175.19 (+0.09%)
MSFT   420.68 (-1.69%)
META   511.71 (-2.19%)
GOOGL   157.33 (-1.30%)
AMZN   185.51 (-1.87%)
TSLA   171.02 (-2.05%)
NVDA   886.62 (-2.16%)
AMD   163.15 (-4.31%)
NIO   4.11 (-7.85%)
BABA   71.91 (-3.93%)
T   16.31 (-0.67%)
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MU   122.85 (-3.65%)
GE   154.42 (-1.89%)
CGC   7.90 (-3.07%)
DIS   114.17 (-2.54%)
AMC   2.67 (-4.64%)
PFE   25.90 (-1.67%)
PYPL   64.48 (-2.01%)
XOM   120.96 (-0.68%)
S&P 500   5,113.07 (-1.65%)
DOW   37,893.70 (-1.47%)
QQQ   437.50 (-1.77%)
AAPL   175.19 (+0.09%)
MSFT   420.68 (-1.69%)
META   511.71 (-2.19%)
GOOGL   157.33 (-1.30%)
AMZN   185.51 (-1.87%)
TSLA   171.02 (-2.05%)
NVDA   886.62 (-2.16%)
AMD   163.15 (-4.31%)
NIO   4.11 (-7.85%)
BABA   71.91 (-3.93%)
T   16.31 (-0.67%)
F   12.57 (-3.60%)
MU   122.85 (-3.65%)
GE   154.42 (-1.89%)
CGC   7.90 (-3.07%)
DIS   114.17 (-2.54%)
AMC   2.67 (-4.64%)
PFE   25.90 (-1.67%)
PYPL   64.48 (-2.01%)
XOM   120.96 (-0.68%)
S&P 500   5,113.07 (-1.65%)
DOW   37,893.70 (-1.47%)
QQQ   437.50 (-1.77%)
AAPL   175.19 (+0.09%)
MSFT   420.68 (-1.69%)
META   511.71 (-2.19%)
GOOGL   157.33 (-1.30%)
AMZN   185.51 (-1.87%)
TSLA   171.02 (-2.05%)
NVDA   886.62 (-2.16%)
AMD   163.15 (-4.31%)
NIO   4.11 (-7.85%)
BABA   71.91 (-3.93%)
T   16.31 (-0.67%)
F   12.57 (-3.60%)
MU   122.85 (-3.65%)
GE   154.42 (-1.89%)
CGC   7.90 (-3.07%)
DIS   114.17 (-2.54%)
AMC   2.67 (-4.64%)
PFE   25.90 (-1.67%)
PYPL   64.48 (-2.01%)
XOM   120.96 (-0.68%)

Is Biotech Immunocore About To Make A 25% Price Move?

Is Biotech Immunocore About To Make A 25% Price Move?

Key Points

  • The biotech industry has been a market leader in recent months, with Immunocore Holdings among the group’s top price performers.
  • Wall Street is expecting a revenue increase of 335% when the company reports its fourth quarter in March.
  • Revenue grew at triple-digit rates in each of the past three quarters.
  • Analysts have a "buy"rating on the stock with a price target 25% higher than where it's currently trading. 
  • 5 stocks we like better than Immunocore

The biotech industry has stood out in recent months, with Immunocore Holdings PLC NASDAQ: IMCR among the group’s top price performers.

The industry is home to some large-cap heavyweights, including Amgen Inc. NASDAQ: AMGN, Gilead Sciences Inc. NASDAQ: GILD, Regeneron Pharmaceuticals Inc. NASDAQ: REGN, Vertex Pharmaceuticals Inc. NASDAQ: VRTX, and Moderna Inc. NASDAQ: MRNA, among others. 

But less well-known companies, such as Exact Sciences Corp. NASDAQ: EXAS, a top holding in Cathie Woods’ Ark Innovation ETF NYSEARCA: ARKK, along with numerous small caps, have been notching strong rallies. 

U.K.-based Immunocore develops immunotherapies to treat cancer and infectious and autoimmune diseases. 


Its sole product currently on the market is Kimmtrak, a treatment for melanoma. However, Immunocore has six other potential drugs in its pipeline, drawing from the same technologies underpinning Kimmtrack. 

Developing More Treatments Using Existing Platform 

In addition to that compound, the biotech is working on six treatments using the same technology, known as T-cell receptor therapy. With the new products in the pipeline, the company aims to treat other forms of cancer, autoimmune diseases, and infectious diseases, such as hepatitis.

The company reports its fourth quarter on March 2 ahead of the market opening. Wall Street is eyeing a loss of $0.03 per share on revenue of $38.68 million. That would be a year-over-year revenue increase of 335%. 

In its most recent earnings report, the company said total net product and net pre-product revenue from the sale of Kimmtrack and tebentafusp, its chemical name, was $40.4 million in the three months ending September 30, 2022. The company also had $5.451 million in collaboration revenue from discovery partnerships with Genentech, Eli Lilly and Company NYSE: LLY, and GSK PLC NYSE: GSK to develop new cancer therapies Immunocore’s technology platform. 

Its total revenue of $45,871 in the most recent quarter was a 476% year-over-year increase. That stands to reason, as Kimmtrak only received FDA approval in January 2022. Revenue ramped up in the quarter ending in March 2022 and grew at triple-digit rates in the past three quarters. 

The company swung to profitability in the most recent quarter, earning $0.13 per share. 

MarketBeat earnings data for Immucore show the company significantly topped earnings and sales views in the past three quarters. 

For the full year of 2022, Immunocore is expected to report a loss of $0.40 per share, narrowed from the 2021 loss of $4.13 per share. That loss is expected to remain at $0.40 a share this year. 

Immunocore has posted strong, market-beating gains in the past year. The stock is up 163.05% on a one-year basis. It’s up 16.01% in the past month and 12.06% in the past three months. 

Tracked By Nasdaq Biotech Index

The stock is not a component of any major indexes, but it’s part of the Nasdaq Biotechnology Index, as tracked by the Invesco Nasdaq Biotechnology ETF NYSEARCA: IBBQ. It only comprises 0.15% of fund assets, but it never hurts to be part of an index. That means ETFs tracking the index have to buy enough of the stock’s shares to maintain balance.

The buyers are clearly in charge. According to MarketBeat institutional investor data for Immunocore, in the past 12 months, 43 institutional buyers accounted for inflows of $179.00 million. 19 institutional sellers accounted for outflows of $36.34 million during that time. 

Is Biotech Immunocore About To Make A 25% Price Move?

The stock broke out of a cup-shaped base with a buy point above $61.32 in late October, then rallied to a high of $69.06 on November 18 before retreating into a new consolidation. The current base is taking a cup-with-handle shape with a potential buy point just above $65. It’s hit resistance between $64 and $65 in the past three sessions. 

Although Immunocore is not yet profitable, the institutional ownership data and recent uptrends signal that the stock has the potential to rise further. Analysts have a price target of $79.13, representing an upside of 25.18%. Analysts have a “buy” rating on the stock.

Should you invest $1,000 in Immunocore right now?

Before you consider Immunocore, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Immunocore wasn't on the list.

While Immunocore currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

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Companies Mentioned in This Article

CompanyMarketRank™Current PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
Immunocore (IMCR)
1.938 of 5 stars
$57.32-3.0%N/A-49.41Moderate Buy$80.55
Amgen (AMGN)
4.9727 of 5 stars
$266.41-1.3%3.38%21.33Hold$295.30
Gilead Sciences (GILD)
5 of 5 stars
$67.68-1.4%4.55%15.04Hold$85.36
Regeneron Pharmaceuticals (REGN)
3.8065 of 5 stars
$899.55-2.3%N/A25.89Moderate Buy$968.67
Vertex Pharmaceuticals (VRTX)
4.3691 of 5 stars
$395.19-1.3%N/A28.45Hold$420.71
Moderna (MRNA)
4.0632 of 5 stars
$105.28-1.6%N/A-8.48Hold$126.49
Exact Sciences (EXAS)
4.354 of 5 stars
$71.44-2.1%N/A-62.67Moderate Buy$97.44
ARK Innovation ETF (ARKK)N/A$46.82-2.9%N/AN/AN/AN/A
Eli Lilly and Company (LLY)
4.8557 of 5 stars
$754.71-0.6%0.69%130.12Moderate Buy$728.05
GSK (GSK)
1.9687 of 5 stars
$40.54-0.6%3.92%13.47HoldN/A
Compare These Stocks  Add These Stocks to My Watchlist 

Kate Stalter

About Kate Stalter

  • stalterkate@gmail.com

Contributing Author

Retirement, Asset Allocation, and Tax Strategies

Experience

Kate Stalter has been a contributing writer for MarketBeat since 2021.

Additional Experience

Series 65-licensed investment advisor, financial advisor, Blue Marlin Advisors; investment columnist for Forbes, U.S. News & World Report

Areas of Expertise

Asset allocation, technical and fundamental analysis, retirement strategies, income generation, risk management, sector and industry analysis

Education

Bachelor of Arts, Saint Mary’s College, Notre Dame, Indiana; Master of Business Adminstration, Kellogg School of Management at Northwestern University

Past Experience

Founder, financial advisor for Better Money Decisions; editor, stock trading instructor for Investor’s Business Daily; columnist, podcast host, video host for MoneyShow.com; contributor for Morningstar magazine


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