Immunocore price target raised to $85 from $75 at Oppenheimer

Oppenheimer analyst Justin Kim raised the firm’s price target on Immunocore to $85 from $75 and keeps an Outperform rating on the shares. The firm continues to appreciate the broadening potential of PRAME, its rapidity in advancing to pivotal development in front-line melanoma, and anticipated evidence in additional tumor types and coupled with combination therapies. A “swelling evidence” on PRAME’s applicability in the treatment of cancer, management’s disciplined decision-making, and a strong financial position with cash-generating capability continue to drive a unique thesis, Oppenheimer believes, in the SMID-cap oncology universe.