UK's Immunocore Q1 profit beats estimates

Immunocore Holdings

06/05/2026 12:18

Overview

UK biotechnology firm's Q1 EPS, net income and operating income all beat analyst expectations

KIMMTRAK net product sales grew 14% yr/yr, driven by higher volumes and global expansion

Company ended Q1 with $845 mln in cash, cash equivalents and marketable securities

Outlook

Company expects to complete TEBE-AM Phase 3 trial enrollment in 1H 2026, topline data in 2H 2026

Company plans to present Phase 1/2 data for brenetafusp and IMC-P115C in 2H 2026

Result Drivers

KIMMTRAK SALES GROWTH - Co said Q1 net product sales rose 14% yr/yr due to increased volumes in the US and Europe and global country expansion

US AND EUROPEAN DEMAND - 19.1% yr/yr sales growth in the US and 4.9% in Europe, driven by increased demand and launches in European markets

R&D EXPENSES - Higher R&D expenses primarily due to clinical expenses related to progression of Phase 3 trials, mainly PRISM-MEL-301

Company press release: ID:nGNE6FBYvL

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
Beat
$0.25
-$0.26 (12 Analysts)
Q1 Net Income
Beat
$12.97 mln
-$13.85 mln (12 Analysts)
Q1 Operating Income
Beat
$7.28 mln
-$16.43 mln (13 Analysts)

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

Wall Street's median 12-month price target for Immunocore Holdings PLC is $65.00, about 125.4% above its May 5 closing price of $28.84

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)