Buy Rating Affirmed for Immunocore Holdings on Strong KIMMTRAK Sales and Promising Pipeline Growth

Analyst Patrick Trucchio of H.C. Wainwright reiterated a Buy rating on Immunocore Holdings (IMCR – Research Report), boosting the price target to $100.00.

Patrick Trucchio has given his Buy rating due to a combination of factors pertaining to Immunocore Holdings’ financial performance and potential growth opportunities. The strong revenue generation of $70.3M by KIMMTRAK, Immunocore’s leading TCR bispecific immunotherapy, surpassed estimates, signaling a robust commercial uptake. Additionally, upcoming safety and efficacy data from multiple clinical trials, particularly the anticipated updates on IMC-F106C at the ASCO meeting, show promise for the company’s pipeline. Furthermore, the accelerated enrollment in the TEBE-AM trial and the initiation of the ATOM trial demonstrate the company’s commitment to expanding its product reach, bolstering confidence in its future market position.

The positive real-world data indicating longer-than-expected treatment durations with KIMMTRAK further underpin the increased price target to $100. The therapy’s standard of care status in all launched markets, coupled with its ongoing global expansion and potential for label extensions, underlies the upward revision of revenue estimates. Trucchio’s analysis reflects an optimistic outlook based on the product’s current success and its expected contribution to peak global annual revenues. The combination of these elements supports the continued Buy rating, suggesting that Immunocore Holdings represents an attractive investment with significant upside potential.

In another report released today, Barclays also maintained a Buy rating on the stock with a $92.00 price target.

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Immunocore Holdings (IMCR) Company Description:

Immunocore Holdings PLC is a late-stage biotechnology company engaged in the development of a novel class of TCR bispecific immunotherapies for the treatment of cancer, infectious and autoimmune diseases.