Gil Blum, an analyst from Needham, maintained the Buy rating on Immunocore Holdings (IMCR – Research Report). The associated price target remains the same with $71.00.
Gil Blum has given his Buy rating due to a combination of factors related to Immunocore Holdings’ innovative approach in their HIV program. The initial data from their IMC-M113V trial demonstrated temporary viral control in a subset of patients, which is promising for the development of a novel treatment mechanism. The ability of some patients to delay restarting anti-retroviral therapy suggests potential for a functional cure, which is a significant advancement in HIV treatment.
Furthermore, the ongoing dose-seeking efforts aim to enhance these initial results by exploring higher dose cohorts, despite some observed side effects such as transient CRS. The company’s commitment to refining their approach and expanding their trials underscores the potential for significant progress. These factors contribute to the positive outlook and justify the Buy rating with a target price of $71.
According to TipRanks, Blum is an analyst with an average return of -11.6% and a 29.80% success rate. Blum covers the Healthcare sector, focusing on stocks such as Geron, Sarepta Therapeutics, and Immunocore Holdings.
In another report released today, Barclays also maintained a Buy rating on the stock with a $66.00 price target.
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