Immunocore (NASDAQ:IMCR) Posts Earnings Results, Misses Expectations By $0.01 EPS

Immunocore (NASDAQ:IMCR) posted its quarterly earnings results on Thursday. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01), FiscalAI reports. The company had revenue of $115.93 million for the quarter, compared to analyst estimates of $148.47 million. Immunocore had a negative return on equity of 7.07% and a negative net margin of 6.68%.

Here are the key takeaways from Immunocore’s conference call:

• Positive Sentiment: KIMMTRAK first-half net revenue rose 16% year over year to $223 million, including $116 million in Q2, supported by continued U.S. community demand and penetration above 70% in major markets.
• Positive Sentiment: Five-year data showed KIMMTRAK doubled the likelihood of survival at five years versus investigator’s choice in HLA-A2-positive metastatic uveal melanoma, with overall survival of 16% versus 8%.
• Positive Sentiment: Enrollment in the pivotal TEBE-AM trial for previously treated advanced cutaneous melanoma is nearly complete, with headline overall-survival data potentially available by year-end 2026; ATOM and PRISM-MEL-301 also continue to advance.
• Neutral Sentiment: Immunocore expects first-patient dosing of its type 1 diabetes candidate in the coming weeks, plans to submit a CTA for a second autoimmune candidate by year-end, and expects updated HIV data in the first half of 2027.
• Negative Sentiment: Q2 U.S. sales benefited from approximately $6 million of distributor inventory stocking, creating a headwind for Q3, while the company expects roughly $120 million in sales-related rebate payments during the second half of 2026.

Immunocore Stock Up 3.6%

NASDAQ IMCR traded up $1.21 during trading on Thursday, hitting $34.50. 572,933 shares of the company traded hands, compared to its average volume of 549,982. Immunocore has a 12 month low of $27.56 and a 12 month high of $40.71. The business has a fifty day simple moving average of $31.54 and a 200 day simple moving average of $31.33. The company has a market capitalization of $1.76 billion, a P/E ratio of -62.73 and a beta of 0.74. The company has a current ratio of 4.18, a quick ratio of 4.15 and a debt-to-equity ratio of 1.00.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Immunocore in a research note on Friday, July 17th. Mizuho lifted their target price on shares of Immunocore from $34.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday. Wall Street Zen cut shares of Immunocore from a “buy” rating to a “hold” rating in a report on Tuesday, July 28th. Zacks Research downgraded shares of Immunocore from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Finally, HC Wainwright reiterated a “buy” rating and set a $100.00 price objective on shares of Immunocore in a report on Monday, April 20th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $56.29.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Orion Porfolio Solutions LLC grew its holdings in shares of Immunocore by 4.5% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 23,965 shares of the company’s stock worth $752,000 after purchasing an additional 1,031 shares in the last quarter. Arax Advisory Partners raised its stake in shares of Immunocore by 302.9% in the fourth quarter. Arax Advisory Partners now owns 1,386 shares of the company’s stock valued at $48,000 after purchasing an additional 1,042 shares in the last quarter. Osaic Holdings Inc. raised its stake in shares of Immunocore by 117.4% in the second quarter. Osaic Holdings Inc. now owns 3,148 shares of the company’s stock valued at $97,000 after purchasing an additional 1,700 shares in the last quarter. Legal & General Group Plc lifted its position in Immunocore by 2.0% in the third quarter. Legal & General Group Plc now owns 125,756 shares of the company’s stock worth $4,562,000 after purchasing an additional 2,517 shares during the period. Finally, Federation des caisses Desjardins du Quebec lifted its position in Immunocore by 162.1% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 5,478 shares of the company’s stock worth $190,000 after purchasing an additional 3,388 shares during the period. Institutional investors and hedge funds own 84.50% of the company’s stock.

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.