Immunocore initiated with Outperform on TCR leadership at Baird

Baird last night initiated coverage of Immunocore with an Outperform rating and $84 price target. The firm is encouraged by Immunocore’s leadership position in the growing T cell receptor space. With Kimmtrak’s “strong” performance having de-risked thiwplatform, Immunocore is poised to leverage these learnings and springboard into the next growth opportunities which include tebentafusp in cutaneous melanoma, the analyst tells investors in a research note.