Immunocore Holdings’ Promising PRAME-Targeting Therapies Drive Buy Rating

H.C. Wainwright analyst Patrick Trucchio has reiterated their bullish stance on IMCR stock, giving a Buy rating on May 27.

Patrick Trucchio has given his Buy rating due to a combination of factors surrounding Immunocore Holdings’ promising developments in their PRAME-targeting therapies. The company’s brenetafusp program is particularly noteworthy for its off-the-shelf bispecific format, which allows for scalable outpatient administration and has shown encouraging early clinical activity. This program is positioned to gain broad adoption, especially given the competitive advantage it holds over more complex and costly autologous TCR T cell therapies.
Furthermore, the ongoing Phase 3 trial, PRISM-MEL-301, is a significant milestone as it evaluates brenetafusp in first-line advanced cutaneous melanoma, with dose selection expected in the second half of 2025. The trial’s design, which does not require prospective PRAME testing, broadens eligibility and enhances its potential impact. Additionally, Immunocore’s efforts in advancing next-generation PRAME programs and exploring combinations with standard-of-care therapies in other cancers highlight a robust pipeline that could address a substantial patient population. These strategic initiatives underpin Trucchio’s positive outlook and Buy rating for Immunocore Holdings.

In another report released on May 27, Deutsche Bank also initiated coverage with a Buy rating on the stock with a $65.00 price target.