Barclays lowered the firm’s price target on Immunocore (IMCR) to $52 from $66 and keeps an Overweight rating on the shares. After speaking with management, the firm said that Kimmtrak saw strong growth in Europe but a slowdown in the U.S., with Q1 Kimmtrak sales including a roughly $6M one-time gain. Out of an abundance of caution, the firm de-risked its model for Immunocore, which takes the price target lower, adding that there are no changes to upcoming catalyst timelines.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on IMCR:
- Immunocore Holdings: Strong Sales Growth and Financial Position Justify Buy Rating
- Immunocore Holdings: Strong International Growth and Promising Clinical Trials Drive Buy Recommendation
- Immunocore reports Q1 EPS 10c, consensus (40c)
- Immunocore price target lowered to $33 from $38 at Mizuho
- Immunocore Holdings: Buy Rating Backed by Promising Strategy and Strong Financials Despite Mixed Study Data