Analyst Patrick Trucchio from H.C. Wainwright reiterated a Buy rating on Immunocore Holdings (IMCR – Research Report) and keeping the price target at $100.00.
Patrick Trucchio has given his Buy rating due to a combination of factors including the robust launch of KIMMTRAK, which has become the standard of care for metastatic uveal melanoma and is expanding into additional markets. Immunocore’s financial position is strong, with $820 million in cash at the end of 2024, supporting the execution of its pipeline. The company’s strategic focus on expanding the KIMMTRAK franchise through ongoing Phase 3 trials and the development of its PRAME portfolio in melanoma and other solid tumors is promising.
Furthermore, Immunocore is advancing its first-in-class TCR-based infectious disease candidates, with significant data expected in 2025. The autoimmune pipeline is also progressing toward clinical trial applications, with filings anticipated for type 1 diabetes and atopic dermatitis in the coming years. The PIWIL1-targeted program is in early-phase trials for colorectal and gastrointestinal cancers, adding to the company’s diverse pipeline. These developments, coupled with a commercial expansion strategy and expected revenue growth, underpin the Buy rating and the reiterated price target of $100.
In another report released yesterday, Barclays also maintained a Buy rating on the stock with a $66.00 price target.
Questions or Comments about the article? Write to editor@tipranks.com