Immunocore Holdings: Strong Sales Growth and Financial Position Justify Buy Rating

Needham analyst Gil Blum maintained a Buy rating on Immunocore Holdings (IMCR – Research Report) today and set a price target of $71.00.

Gil Blum’s rating is based on several positive indicators for Immunocore Holdings. The company has shown steady sales growth for its product Kimmtrak, particularly in the metastatic uveal melanoma (mUM) market. The first quarter of 2025 reported sales of $93.9 million, which slightly exceeded consensus estimates, indicating strong commercial execution.
Furthermore, Immunocore has a robust financial position, ending the first quarter with $837 million. The company is also progressing with its PRISM-MEL-301 study, which is on track to select a go-ahead dose in the second half of 2025. These factors, combined with the expectation of increased U.S. market penetration and expansion into new territories, support the Buy rating with a target price of $71.

Blum covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Immunocore Holdings, and Geron. According to TipRanks, Blum has an average return of -11.5% and a 32.34% success rate on recommended stocks.

In another report released today, TD Cowen also maintained a Buy rating on the stock with a $60.00 price target.