Immunocore Q3 EPS Forecast Reduced by Capital One Financial

Immunocore Holdings plc (NASDAQ:IMCR - Free Report) - Analysts at Capital One Financial lowered their Q3 2024 earnings estimates for Immunocore in a note issued to investors on Wednesday, October 16th. Capital One Financial analyst N. Quibria now forecasts that the company will earn ($0.38) per share for the quarter, down from their prior forecast of ($0.36). The consensus estimate for Immunocore's current full-year earnings is ($1.67) per share. Capital One Financial also issued estimates for Immunocore's Q4 2024 earnings at ($0.40) EPS and FY2024 earnings at ($1.50) EPS.

Immunocore (NASDAQ:IMCR - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.25. The business had revenue of $75.40 million during the quarter, compared to the consensus estimate of $74.58 million. Immunocore had a negative return on equity of 14.68% and a negative net margin of 19.16%. The company's quarterly revenue was up 26.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.37) earnings per share.

Several other equities analysts also recently issued reports on IMCR. JPMorgan Chase & Co. cut their target price on Immunocore from $70.00 to $66.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 10th. HC Wainwright restated a "buy" rating and issued a $100.00 price objective on shares of Immunocore in a research note on Tuesday, September 17th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Immunocore in a research report on Monday, September 9th. Barclays reduced their price target on shares of Immunocore from $92.00 to $66.00 and set an "overweight" rating for the company in a research report on Friday, August 9th. Finally, Guggenheim downgraded shares of Immunocore from a "buy" rating to a "neutral" rating in a report on Monday, October 7th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $79.82.

Immunocore Stock Performance

Immunocore stock traded down $1.07 during mid-day trading on Monday, reaching $33.31. 303,103 shares of the company traded hands, compared to its average volume of 546,943. The firm's fifty day moving average is $33.67 and its two-hundred day moving average is $41.68. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of -27.30 and a beta of 0.72. Immunocore has a fifty-two week low of $29.72 and a fifty-two week high of $76.98. The company has a debt-to-equity ratio of 1.31, a current ratio of 5.17 and a quick ratio of 5.15.

Institutional Investors Weigh In On Immunocore

Institutional investors have recently modified their holdings of the business. Exchange Traded Concepts LLC raised its position in Immunocore by 40.4% during the third quarter. Exchange Traded Concepts LLC now owns 5,075 shares of the company's stock worth $158,000 after acquiring an additional 1,461 shares during the period. Connective Portfolio Management LLC acquired a new stake in Immunocore in the 3rd quarter worth about $218,000. DNB Asset Management AS boosted its holdings in Immunocore by 35.0% in the 2nd quarter. DNB Asset Management AS now owns 7,211 shares of the company's stock worth $244,000 after buying an additional 1,868 shares during the last quarter. XTX Topco Ltd purchased a new stake in Immunocore during the 2nd quarter worth approximately $303,000. Finally, Tidal Investments LLC acquired a new position in shares of Immunocore during the first quarter valued at approximately $423,000. 84.50% of the stock is currently owned by institutional investors and hedge funds.

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.