Immunocore Holdings PLC Sponsored ADR (IMCR) Soars 6.9%: Is Further Upside Left in the Stock?
Immunocore Holdings PLC Sponsored ADR IMCR shares ended the last trading session 6.9% higher at $60.81. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 3.5% loss over the past four weeks.
Share price has been rising consistently since the onset of this week as multiple Wall Street analysts have rated the stock with a "Buy" recommendation. Earlier this week, Immunocore also announced preliminary net pre-product sales of around $50 million in fourth-quarter 2022, indicating around 25% quarter over quarter growth.
This company is expected to post quarterly loss of $0.08 per share in its upcoming report, which represents a year-over-year change of +93.4%. Revenues are expected to be $49.24 million, up 453.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Immunocore Holdings PLC Sponsored ADR, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on IMCR going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Immunocore Holdings PLC Sponsored ADR is part of the Zacks Medical - Biomedical and Genetics industry. argenex SE ARGX, another stock in the same industry, closed the last trading session 2.1% higher at $403.65. ARGX has returned 2.3% in the past month.
argenex SE's consensus EPS estimate for the upcoming report has changed +0.3% over the past month to -$3.20. Compared to the company's year-ago EPS, this represents a change of +32.8%. argenex SE currently boasts a Zacks Rank of #3 (Hold).
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