Immunocore Holdings PLC Sponsored ADR (IMCR) Moves 6.9% Higher: Will This Strength Last?
Immunocore Holdings PLC Sponsored ADR (IMCR) shares ended the last trading session 6.9% higher at $72.29. 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 5.6% loss over the past four weeks.
The surge in share price can be attributed to positive investor expectations from the company's sole marketed drug Kimmtrak (approved for ocular melanoma). The encouraging progress of its vast clinical-stage pipeline could have also contributed to the stock's gain. Additional studies to expand Kimmtrak’s label in melanoma treatment are currently ongoing/planned. Immunocore has several other candidates in its pipeline being evaluated for various cancer indications.
This company is expected to post quarterly loss of $0.26 per share in its upcoming report, which represents a year-over-year change of +58.7%. Revenues are expected to be $60.71 million, up 4.6% 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 #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Immunocore Holdings PLC Sponsored ADR belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, VistaGen Therapeutics, Inc. (VTGN), closed the last trading session 1.4% lower at $4.78. Over the past month, VTGN has returned -5.8%.
VistaGen Therapeutics, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.31. Compared to the company's year-ago EPS, this represents a change of +79.3%. VistaGen Therapeutics, Inc. currently boasts a Zacks Rank of #3 (Hold).
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