Analysts Set Expectations for Immunocore FY2024 Earnings

Immunocore Holdings plc (NASDAQ:IMCR) – Investment analysts at HC Wainwright boosted their FY2024 earnings estimates for Immunocore in a research note issued on Thursday, November 7th. HC Wainwright analyst P. Trucchio now anticipates that the company will post earnings per share of ($1.33) for the year, up from their prior estimate of ($2.14). HC Wainwright has a “Buy” rating and a $100.00 price target on the stock. The consensus estimate for Immunocore’s current full-year earnings is ($1.11) per share. HC Wainwright also issued estimates for Immunocore’s Q4 2024 earnings at ($0.78) EPS, Q1 2025 earnings at ($0.42) EPS, Q2 2025 earnings at ($0.48) EPS, Q3 2025 earnings at ($0.54) EPS, Q4 2025 earnings at ($0.96) EPS, FY2025 earnings at ($2.41) EPS, FY2026 earnings at ($2.34) EPS, FY2027 earnings at $1.04 EPS and FY2028 earnings at $4.21 EPS.

A number of other brokerages also recently weighed in on IMCR. Guggenheim downgraded shares of Immunocore from a “buy” rating to a “neutral” rating in a report on Monday, October 7th. Oppenheimer reaffirmed an “outperform” rating and issued a $89.00 target price (up from $87.00) on shares of Immunocore in a report on Friday, August 9th. Barclays reduced their price target on Immunocore from $92.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Morgan Stanley cut their price objective on Immunocore from $80.00 to $74.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Finally, UBS Group assumed coverage on Immunocore in a research note on Thursday, October 24th. They issued a “sell” rating and a $24.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $73.73.

Immunocore Stock Performance

Shares of Immunocore stock opened at $34.69 on Monday. The company has a current ratio of 3.78, a quick ratio of 5.15 and a debt-to-equity ratio of 1.03. Immunocore has a 12-month low of $29.72 and a 12-month high of $76.98. The business’s 50 day moving average is $32.64 and its 200-day moving average is $39.26.

Immunocore (NASDAQ:IMCR) last released its earnings results on Wednesday, November 6th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.50. The business had revenue of $80.25 million for the quarter, compared to the consensus estimate of $78.94 million. Immunocore had a negative return on equity of 12.84% and a negative net margin of 15.87%. Immunocore’s quarterly revenue was up 23.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.59) earnings per share.

Hedge Funds Weigh In On Immunocore

Several institutional investors and hedge funds have recently modified their holdings of IMCR. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Immunocore by 86.3% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 342,000 shares of the company’s stock valued at $22,230,000 after purchasing an additional 158,455 shares during the period. Orion Portfolio Solutions LLC boosted its stake in shares of Immunocore by 33.7% in the first quarter. Orion Portfolio Solutions LLC now owns 23,127 shares of the company’s stock valued at $1,503,000 after buying an additional 5,826 shares during the period. Nan Fung Group Holdings Ltd acquired a new stake in Immunocore during the first quarter worth approximately $439,000. Janus Henderson Group PLC increased its stake in Immunocore by 45.8% during the 1st quarter. Janus Henderson Group PLC now owns 257,080 shares of the company’s stock worth $16,711,000 after acquiring an additional 80,748 shares during the period. Finally, Tidal Investments LLC acquired a new position in Immunocore in the 1st quarter valued at $423,000. 84.50% of the stock is currently owned by institutional investors and hedge funds.

About Immunocore

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.