Barclays lowered the firm’s price target on Immunocore (IMCR) to $52 from $66 and keeps an Overweight rating on the shares. After speaking with management, the firm said that Kimmtrak saw strong growth in Europe but a slowdown in the U.S., with Q1 Kimmtrak sales including a roughly $6M one-time gain. Out of an abundance of caution, the firm de-risked its model for Immunocore, which takes the price target lower, adding that there are no changes to upcoming catalyst timelines.
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