BTIG analyst Justin Zelin reiterated a Buy rating on Immunocore Holdings (IMCR – Research Report) today and set a price target of $91.00.
Justin Zelin has given his Buy rating due to a combination of factors including the strong performance of Immunocore Holdings’ key product, KIMMTRAK, which has shown significant revenue growth. The company’s financial results for the fourth quarter of 2024 demonstrated a 24% quarter-over-quarter increase in KIMMTRAK revenues, aligning with market expectations and reflecting a 30% year-over-year growth. This robust performance is complemented by the company’s strategic expansion into the community setting in the U.S., which is expected to drive further growth in 2025.
Furthermore, Immunocore’s promising pipeline in infectious diseases and oncology contributes to the positive outlook. Upcoming catalysts, such as the anticipated data readout for IMC-M113V in HIV and the progression of trials for other pipeline candidates, offer potential upside to the stock. The company’s valuation, supported by a discounted cash flow analysis, suggests room for appreciation, reinforcing the Buy rating with a price target of $91.
According to TipRanks, Zelin is a 3-star analyst with an average return of 3.7% and a 31.65% success rate. Zelin covers the Healthcare sector, focusing on stocks such as IDEAYA Biosciences, Verastem, and Viking Therapeutics.
In another report released today, Barclays also maintained a Buy rating on the stock with a $66.00 price target.
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