Immunocore Holdings plc
IMCR
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Bull / bear case
Site-generated summary from fundamentals, news, and score — not investment advice. As of 2026-10-08.
- Immunocore Holdings is positioned in a competitive biotechnology sector, focusing on innovative therapies that address unmet medical needs, which could lead to significant market opportunities.
- In Q2 2026, Immunocore reported a revenue increase of 9% compared to the prior quarter, reaching $116 million.
- The company maintains a strong gross margin of 99.1%, indicating effective cost management and product pricing.
- The biotechnology industry is facing regulatory challenges that can delay product approvals and impact revenue generation for companies like Immunocore.
- Immunocore's operating margin has compressed to -2.6% in Q2 2026, reflecting ongoing financial struggles.
- The company's score indicates a 'Strong Sell' signal with a score of -16.00, highlighting negative trends in market performance.
Fundamentals
| Market cap | $1.50B | Enterprise value | $1.05B | Trailing P/E | — | Forward P/E | -38.56 |
| PEG | — | Price / book | 3.57 | Beta | 0.82 | Dividend yield | 0.00% |
| Revenue growth | 18.3% | Earnings growth | — | Gross margin | 32.9% | Operating margin | -2.6% |
| Profit margin | -4.2% | ROE | -4.5% | ROA | -0.2% | Debt / equity | 1.04 |
| Current ratio | 4.47 | Free cash flow | $35.59M | Analyst recommendation | buy | Mean target | $62.73 |
| 52w high | $40.72 | 52w low | $27.56 |
Quarterly
| 2026-Q2 | 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | |
|---|---|---|---|---|---|
| Revenue | $116M | $107M | $104M | $104M | $98.0M |
| Op margin | -2.6% | 6.8% | -18.8% | -6.9% | -15.2% |
| Net income | -$0.8M | $13.0M | -$30.1M | -$0.2M | -$10.3M |
| Gross margin | 99.1% | 99.6% | 97.4% | 99.5% | 98.9% |
| Gross profit | $115M | $106M | $102M | $103M | $96.9M |
| Operating income | -$3.0M | $7.3M | -$19.7M | -$7.2M | -$14.9M |
- Revenue +9% vs prior quarter ($116M vs $107M).
- Gross margin 99.1% (was 99.6% prior quarter).
- Operating margin compressed to -2.6%.
Yearly (6y)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Revenue | $400M | $310M | $249M | $174M | — |
| Op margin | -11.3% | -22.7% | -23.9% | -29.7% | — |
| Net income | -$35.5M | -$51.1M | -$55.3M | -$52.5M | — |
| Gross margin | 98.7% | 99.1% | 99.6% | 99.4% | — |
| Gross profit | $395M | $307M | $248M | $173M | — |
| Operating income | -$45.4M | -$70.5M | -$59.6M | -$51.7M | — |
No flags
• No distress or material-risk keywords in recent headlines (keyword scan only — not a guarantee).
News
2026-09-15 · Immunocore Hits Enrollment Target in Kimmtrak Label Expansion Study
2026-08-25 · Will Kimmtrak Continue to Aid IMCR's Growth Through the Rest of 2026?
2026-08-10 · IMCR Q2 Revenues Climb 18.3% as Kimmtrak Demand Helps Offset EPS Miss
2026-08-07 · How Strong H1 Profits and Kimtrak Survival Data At Immunocore (IMCR) Have Changed Its Investment Story
2026-08-06 · Immunocore Q2 Earnings Call Highlights
2026-08-06 · Immunocore Holdings PLC (IMCR) (Q2 2026) Earnings Call Highlights: Kimtrak Growth and Pipeline ...
2026-08-06 · Immunocore Holdings PLC (IMCR) (Q2 2026) Earnings Call Highlights: Strong Kimtrak Growth and ...
2026-08-06 · Immunocore reports second quarter financial results and provides a business update
2026-07-30 · Immunocore to report second quarter 2026 financial results and host call on August 6, 2026
2026-07-27 · How Immunocore Is Expanding Beyond Its Rare-Cancer Drug Kimmtrak
2026-07-27 · Is Immunocore Stock Attractive After Kimmtrak's Strong Sales Growth?
Price (daily)
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