Immunocore (IMCR) Moves 6.0% Higher: Will This Strength Last?

Immunocore Holdings PLC Sponsored ADR (IMCR) shares ended the last trading session 6% higher at $30.43. 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 3.6% loss over the past four weeks.Earlier this month, the company presented encouraging initial data from the multiple ascending dose portion of the phase I/II STRIVE study evaluating its functional cure candidate, IMC-M113V, for treating human immunodeficiency virus (HIV). Data from the same showed that treatment with IMC-M113V was well tolerated and demonstrated signals of dose-dependent viral control after antiretroviral treatment (ART) was interrupted. The growing optimism related to the development of IMC-M113V might have driven the recent share price rally.This company is expected to post quarterly loss of $0.35 per share in its upcoming report, which represents a year-over-year change of +28.6%. Revenues are expected to be $86.81 million, up 23.1% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For Immunocore, the consensus EPS estimate for the quarter has been revised 30.6% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate 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 is part of the Zacks Medical - Biomedical and Genetics industry. Adherex Technologies Inc. (FENC), another stock in the same industry, closed the last trading session 0.8% lower at $6.62. FENC has returned 0.5% in the past month.Adherex Technologies' consensus EPS estimate for the upcoming report has changed +32.4% over the past month to -$0.12. Compared to the company's year-ago EPS, this represents a change of -129.3%. Adherex Technologies currently boasts a Zacks Rank of #3 (Hold).Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 256 positions with double- and triple-digit gains in 2024 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Immunocore Holdings PLC Sponsored ADR (IMCR): Free Stock Analysis Report Adherex Technologies Inc. (FENC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks