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In conclusion, H.C. Wainwright's analyst remains optimistic about Immunocore's prospects, underpinned by the potential of its diverse pipeline and upcoming clinical milestones. With a market capitalization of $1.65 billion and InvestingPro analysis suggesting the stock is currently undervalued, the firm reiterates its confidence in the company's stock with a $100 price target and a Buy rating. For deeper insights into Immunocore's financial health, growth prospects, and comprehensive analysis, investors can access the detailed Pro Research Report available on InvestingPro, which covers over 1,400 US stocks with expert analysis and actionable intelligence.
Immunocore's executive team met with H.C. Wainwright on January 13, discussing the company's various programs and upcoming milestones. Among these, the readout from the multiple ascending dose portion of the STRIVE trial was underscored as a key event. Additionally, a monthly discovery series titled Biotech Breakthroughs will feature a detailed discussion on the HIV program on January 31, with expert participation from Manish Sagar of Boston University.
In conclusion, H.C. Wainwright's analyst remains optimistic about Immunocore's prospects, underpinned by the potential of its diverse pipeline and upcoming clinical milestones. With a market capitalization of $1.65 billion and InvestingPro analysis suggesting the stock is currently undervalued, the firm reiterates its confidence in the company's stock with a $100 price target and a Buy rating. For deeper insights into Immunocore's financial health, growth prospects, and comprehensive analysis, investors can access the detailed Pro Research Report available on InvestingPro, which covers over 1,400 US stocks with expert analysis and actionable intelligence.
Further updates in Immunocore's pipeline include the program for brenetafusp, another bispecific molecule, with expected readouts in 2025. The company is also developing a novel autoimmune platform, with a highlight on IMC-S118AI, which targets type 1 diabetes (T1D). This first-in-class bispecific is aimed at a pre-proinsulin peptide presented by HLA-A02:01 on pancreatic beta-cells and is on track for a Clinical Trial Application submission in the second half of 2025.
In conclusion, H.C. Wainwright’s analyst remains optimistic about Immunocore's prospects, underpinned by the potential of its diverse pipeline and upcoming clinical milestones. The firm reiterates its confidence in the company's stock with a $100 price target and a Buy rating.
In other recent news, Immunocore Holdings has experienced significant changes in its financial and clinical operations. The company has fully prepaid a $52 million loan under its agreement with Pharmakon Advisors, terminating the agreement well before its 2028 maturity date. This decision frees Immunocore from future financial commitments under the loan terms.
Analysts have also adjusted their outlooks on the company. Morgan Stanley (NYSE:MS) downgraded Immunocore's stock from Overweight to Equalweight and lowered the price target to $35.00, citing less than favorable data outcomes for Immunocore's drug, bretanafusp. Similarly, Mizuho (NYSE:MFG) Securities downgraded the stock to a Neutral rating and slashed the 12-month price target to $38.00, attributing the decision to reduced confidence in brenetafusp, another of the company's drug candidates.
Despite these downgrades, H.C. Wainwright maintained its Buy rating on Immunocore, based on the potential of IMC-M113V, a novel bispecific antibody for HIV treatment. These are among the recent developments for Immunocore, a company that has maintained strong revenue growth of 25% over the last twelve months, reaching $296 million.
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