company background image
IMCR

Immunocore Holdings NasdaqGS:IMCR Stock Report

Last Price

US$53.69

Market Cap

US$2.4b

7D

3.8%

1Y

78.6%

Updated

16 Aug, 2022

Data

Company Financials +
IMCR fundamental analysis
Snowflake Score
Valuation2/6
Future Growth2/6
Past Performance0/6
Financial Health4/6
Dividends0/6

IMCR Stock Overview

Immunocore Holdings plc, a commercial-stage biotechnology company, engages in the development of immunotherapies for the treatment of cancer, infectious, and autoimmune diseases.

Immunocore Holdings Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Immunocore Holdings
Historical stock prices
Current Share PriceUS$53.69
52 Week HighUS$56.80
52 Week LowUS$18.43
Beta0
1 Month Change24.14%
3 Month Change84.19%
1 Year Change78.55%
3 Year Changen/a
5 Year Changen/a
Change since IPO24.28%

Recent News & Updates

Aug 12
Need To Know: Analysts Are Much More Bullish On Immunocore Holdings plc (NASDAQ:IMCR)

Need To Know: Analysts Are Much More Bullish On Immunocore Holdings plc (NASDAQ:IMCR)

Celebrations may be in order for Immunocore Holdings plc ( NASDAQ:IMCR ) shareholders, with the analysts delivering a...

Aug 10

Immunocore GAAP EPS of -$0.17, revenue of $38.92M

Immunocore press release (NASDAQ:IMCR): Q2 GAAP EPS of -$0.17. Revenue of $38.92M (+392.7% Y/Y).

Shareholder Returns

IMCRUS BiotechsUS Market
7D3.8%1.8%4.5%
1Y78.6%-22.2%-8.9%

Return vs Industry: IMCR exceeded the US Biotechs industry which returned -19.6% over the past year.

Return vs Market: IMCR exceeded the US Market which returned -9.6% over the past year.

Price Volatility

Is IMCR's price volatile compared to industry and market?
IMCR volatility
IMCR Average Weekly Movement9.8%
Biotechs Industry Average Movement12.5%
Market Average Movement7.6%
10% most volatile stocks in US Market16.8%
10% least volatile stocks in US Market3.1%

Stable Share Price: IMCR is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 10% a week.

Volatility Over Time: IMCR's weekly volatility (10%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1999324Bahija Jallalhttps://www.immunocore.com

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. Its other programs for oncology comprise IMC-C103C that is in Phase I/II dose escalation trial in patients with solid tumor cancers, including non-small-cell lung (NSCLC), gastric, head and neck, ovarian, and synovial sarcoma cancers; IMC-F106C, which is in a Phase I/II dose escalation trial in patients with multiple solid tumor cancers comprising NSCLC, small-cell lung, endometrial, ovarian, cutaneous melanoma, and breast cancers.

Immunocore Holdings Fundamentals Summary

How do Immunocore Holdings's earnings and revenue compare to its market cap?
IMCR fundamental statistics
Market CapUS$2.36b
Earnings (TTM)-US$111.04m
Revenue (TTM)US$81.06m

29.1x

P/S Ratio

-21.2x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
IMCR income statement (TTM)
RevenueUK£66.99m
Cost of RevenueUK£75.88m
Gross Profit-UK£8.89m
Other ExpensesUK£82.88m
Earnings-UK£91.77m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)-2.09
Gross Margin-13.27%
Net Profit Margin-136.99%
Debt/Equity Ratio25.2%

How did IMCR perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is IMCR undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for IMCR?

Other financial metrics that can be useful for relative valuation.

IMCR key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue27x
Enterprise Value/EBITDA-20.8x
PEG Ration/a

Price to Sales Ratio vs Peers

How does IMCR's PS Ratio compare to its peers?

IMCR PS Ratio vs Peers
The above table shows the PS ratio for IMCR vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average8.2x
MYGN Myriad Genetics
3.2x6.3%US$2.2b
CVAC CureVac
21.5x29.0%US$2.6b
ACAD ACADIA Pharmaceuticals
5.4x20.8%US$2.7b
DVAX Dynavax Technologies
2.7x-10.8%US$1.8b
IMCR Immunocore Holdings
29.1x29.9%US$2.4b

Price-To-Sales vs Peers: IMCR is expensive based on its Price-To-Sales Ratio (29.1x) compared to the peer average (8.2x).


Price to Earnings Ratio vs Industry

How does IMCR's PE Ratio compare vs other companies in the US Biotechs Industry?

Price-To-Sales vs Industry: IMCR is expensive based on its Price-To-Sales Ratio (29.1x) compared to the US Biotechs industry average (16.9x)


Price to Sales Ratio vs Fair Ratio

What is IMCR's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

IMCR PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio29.1x
Fair PS Ratio4.6x

Price-To-Sales vs Fair Ratio: IMCR is expensive based on its Price-To-Sales Ratio (29.1x) compared to the estimated Fair Price-To-Sales Ratio (4.6x).


Share Price vs Fair Value

What is the Fair Price of IMCR when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: IMCR ($53.69) is trading below our estimate of fair value ($159.44)

Significantly Below Fair Value: IMCR is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


Discover undervalued companies

Future Growth

How is Immunocore Holdings forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


32.1%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: IMCR is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: IMCR is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: IMCR is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: IMCR's revenue (29.9% per year) is forecast to grow faster than the US market (7.9% per year).

High Growth Revenue: IMCR's revenue (29.9% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: IMCR is forecast to be unprofitable in 3 years.


Discover growth companies

Past Performance

How has Immunocore Holdings performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-13.4%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: IMCR is currently unprofitable.

Growing Profit Margin: IMCR is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: IMCR is unprofitable, and losses have increased over the past 5 years at a rate of 13.4% per year.

Accelerating Growth: Unable to compare IMCR's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: IMCR is unprofitable, making it difficult to compare its past year earnings growth to the Biotechs industry (24.5%).


Return on Equity

High ROE: IMCR has a negative Return on Equity (-55.74%), as it is currently unprofitable.


Discover strong past performing companies

Financial Health

How is Immunocore Holdings's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: IMCR's short term assets (£257.1M) exceed its short term liabilities (£64.6M).

Long Term Liabilities: IMCR's short term assets (£257.1M) exceed its long term liabilities (£66.4M).


Debt to Equity History and Analysis

Debt Level: IMCR has more cash than its total debt.

Reducing Debt: IMCR's debt to equity ratio has increased from 5.4% to 25.2% over the past 5 years.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: IMCR has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if IMCR has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


Discover healthy companies

Dividend

What is Immunocore Holdings's current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate IMCR's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate IMCR's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if IMCR's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if IMCR's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as IMCR has not reported any payouts.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

3.0yrs

Average management tenure


CEO

Bahija Jallal (60 yo)

3.58yrs

Tenure

UK£938,226

Compensation

Dr. Bahija Jallal, Ph.D. serves as Chief Executive Officer and Director of Immunocore Holdings plc (formerly known as Immunocore Holdings Limited) since January 4, 2019. She serves as Director at ArriVent...


CEO Compensation Analysis

Compensation vs Market: Bahija's total compensation ($USD1.14M) is below average for companies of similar size in the US market ($USD5.42M).

Compensation vs Earnings: Bahija's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: IMCR's management team is considered experienced (3 years average tenure).


Board Members

Experienced Board: IMCR's board of directors are not considered experienced ( 2.9 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Immunocore Holdings plc's employee growth, exchange listings and data sources


Key Information

  • Name: Immunocore Holdings plc
  • Ticker: IMCR
  • Exchange: NasdaqGS
  • Founded: 1999
  • Industry: Biotechnology
  • Sector: Pharmaceuticals & Biotech
  • Implied Market Cap: US$2.357b
  • Shares outstanding: 43.90m
  • Website: https://www.immunocore.com

Number of Employees


Location

  • Immunocore Holdings plc
  • 92 Park Drive
  • Milton Park
  • Abingdon
  • Oxfordshire
  • OX14 4RY
  • United Kingdom

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/16 00:00
End of Day Share Price2022/08/16 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.