Immunocore initiated with a Buy at Mizuho

Mizuho analyst Graig Suvannavejh initiated coverage of Immunocore with a Buy rating and $70 price target, which implies 46% upside. Immunocore is a leader in advancing T-cell receptor-based therapies, which represent an "exciting, emerging field" within immuno-oncology, the analyst tells investors in a research note. With a "proven ability to execute," revenue already coming in, and an expected cash runway to 2026, Immunocore is well positioned, contends the firm.