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Pieris Pharmaceuticals, Inc. (PIRS) - free report >>
Immunocore Holdings PLC Sponsored ADR (IMCR) - free report >>
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Pieris Pharmaceuticals, Inc. (PIRS) - free report >>
Immunocore Holdings PLC Sponsored ADR (IMCR) - free report >>
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Immunocore Holdings PLC Sponsored ADR (IMCR) Surges 6.5%: Is This an Indication of Further Gains?
Immunocore Holdings PLC Sponsored ADR (IMCR - Free Report) shares ended the last trading session 6.5% higher at $65.71. 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 2.9% loss over the past four weeks.
The rise in share price can be attributed to positive investor expectation on the company's sole marketed drug Kimmtrak which is approved in melanoma indication. Last month, management 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 earnings of $0.01 per share in its upcoming report, which represents a year-over-year change of +100.8%. Revenues are expected to be $50.53 million, up 467.8% 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 been revised 9.3% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. 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 belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Pieris Pharmaceuticals (PIRS - Free Report) , closed the last trading session 1.2% lower at $1.70. Over the past month, PIRS has returned 14.7%.
For Pieris Pharmaceuticals, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.23. This represents a change of -76.9% from what the company reported a year ago. Pieris Pharmaceuticals currently has a Zacks Rank of #3 (Hold).