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Wednesday saw H.C. Wainwright reaffirm a Buy rating and a $100.00 price target for Immunocore Holdings (NASDAQ:IMCR), representing significant upside potential from the current price of $28.42. The stock, which has recently been trading near its 52-week low of $27.19, has caught analysts’ attention. According to InvestingPro data, the company’s Fair Value analysis suggests it may be undervalued at current levels. The endorsement comes in the wake of Immunocore’s announcement on Tuesday regarding preliminary results from their ongoing Phase 1/2 trial for IMC-M113V, a novel T cell receptor (TCR)-based bispecific therapeutic candidate. The data, unveiled at the Conference on Retroviruses and Opportunistic Infections (CROI) 2025 in San Francisco, which ran from March 9 to March 12, has been characterized as promising by the firm.
The STRIVE trial’s multiple-ascending dose (MAD) segment showed outcomes that prompted the continuation and escalation of dosage in the study. H.C. Wainwright anticipates that the forthcoming higher dose cohorts will demonstrate extended post-treatment viral suppression in a larger group of participants. These findings are seen as a testament to the potential of Immunocore’s ImmTAV technology in contributing to a functional cure for diseases. The company’s strong financial health, evidenced by a robust current ratio of 4.38 and impressive revenue growth of 24.37% over the last twelve months, supports its research initiatives.
The research firm’s stance is bolstered by the STRIVE data, which they suggest solidifies Immunocore’s position as a frontrunner in the field of TCR-based immunotherapies. The analysts at H.C. Wainwright express a strong conviction in the company’s innovative approach and its implications for the future of medical treatments.
The reiterated Buy rating and price target reflect the analysts’ confidence in Immunocore’s prospects and their belief in the company’s capacity to influence the landscape of functional cures with its TCR-based therapies. The price target of $100.00 remains unchanged, signaling H.C. Wainwright’s continued optimism about the company’s value and trajectory.
In other recent news, Immunocore Holdings reported its fourth-quarter 2024 earnings, which revealed a significant shortfall in earnings per share (EPS), posting -0.47 against the expected -0.24. Revenue also slightly missed expectations, coming in at $84.05 million compared to the anticipated $84.53 million. Despite the earnings miss, Immunocore demonstrated robust growth for the year, with total revenues reaching $310 million, marking a 30% increase from the previous year. The company continues to expand its pipeline with ongoing trials in melanoma and other areas, contributing to its overall performance.
Additionally, Immunocore presented promising initial data from their Phase 1/2 STRIVE trial of IMC-M113V, a potential functional cure for HIV. The trial showed that IMC-M113V was well tolerated and demonstrated a dose-dependent reduction in the HIV active reservoir and viral control in some patients after pausing antiretroviral treatment. No serious adverse events or dose-limiting toxicities were reported during the trial, and the company plans to continue dose escalation at higher levels. Analyst firm BTIG reaffirmed a Buy rating on Immunocore stock with a $91.00 price target following the trial results, citing the data as persuasive and a proof of concept for the drug’s mechanism of action.
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