Immunocore Holdings (IMCR – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Patrick Trucchio from H.C. Wainwright reiterated a Buy rating on the stock and has a $100.00 price target.
Patrick Trucchio has given his Buy rating due to a combination of factors surrounding Immunocore Holdings’ promising advancements in HIV treatment. The upcoming data readout from the Phase 1 STRIVE trial is pivotal, as it marks the first time a T cell receptor-based bispecific therapy has reached this stage in HIV cure research. The anticipated data, expected to be presented soon, could potentially transform the landscape of functional cures for HIV, a prospect that is currently undervalued by the market.
Key expectations from the trial include evidence of viral reservoir reduction and signs of post-treatment viral control, which would be groundbreaking if achieved. The trial also aims to assess the durability of response and the impact on viral rebound after antiretroviral therapy cessation. Success in these areas would not only justify advancing to a Phase 2 trial but also reinforce Immunocore’s position as a leader in TCR-based immunotherapies. These potential breakthroughs underpin Trucchio’s optimistic outlook and Buy rating for Immunocore Holdings.
In another report released on February 28, Goldman Sachs also maintained a Buy rating on the stock with a $77.00 price target.
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