H.C. Wainwright analyst Patrick Trucchio reiterated a Buy rating on Immunocore Holdings (IMCR – Research Report) today and set a price target of $100.00.
Patrick Trucchio has given his Buy rating due to a combination of factors surrounding Immunocore Holdings’ recent advancements in HIV immunotherapy. The initial data from their Phase 1/2 trial, known as STRIVE, highlights the potential of their T cell receptor-based bispecific therapeutic candidate, IMC-M113V, as a leading strategy for functional cure in HIV infection. This data, presented at the Conference on Retroviruses and Opportunistic Infections, shows promising results that support the expansion of the trial to higher dose cohorts, which may lead to longer-term viral suppression.
Moreover, the trial results demonstrate a significant reduction in the HIV viral reservoir, with notable trends in viral control post-treatment. The observed reduction in viral load and the immune-mediated control of viral rebound post-ART interruption suggest that IMC-M113V could be a game-changer in HIV treatment. These findings, alongside the potential underappreciation by investors of Immunocore’s approach, reinforce Trucchio’s positive outlook on the company’s leadership in TCR-based immunotherapies, justifying the Buy rating.
In another report released yesterday, BTIG also reiterated a Buy rating on the stock with a $91.00 price target.
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