Gil Blum, an analyst from Needham, maintained the Buy rating on Immunocore Holdings. The associated price target is $71.00.
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Gil Blum has given his Buy rating due to a combination of factors that highlight Immunocore Holdings’ strong performance and future potential. The company reported impressive second-quarter sales for Kimmtrak, significantly surpassing market expectations. This growth is attributed to an extended treatment duration and increased adoption in key markets such as the US and EU.
Furthermore, Immunocore’s financial outlook remains robust, with increased sales projections for the fiscal year and a solid cash position at the end of the quarter. The analyst also notes that recent developments in the competitive landscape do not pose a negative impact on Immunocore, given the differences in study designs. Additionally, the ongoing PRISM-MEL-301 study is progressing well, with a key milestone expected in the latter half of the year.
According to TipRanks, Blum is an analyst with an average return of -3.1% and a 37.35% success rate. Blum covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Crispr Therapeutics AG, and Nurix Therapeutics.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $60.00 price target.