Aug. 25 at 1:19 PM
Jefferies assumed coverage of
$IMCR at a Buy rating and a
$48 PT.
$IMTX $BMY $MRK $DCTH AMGN RHHBY
Jefferies said:
$IMCR has an off-the-shelf T-cell receptor platform for broad diseases like cancers, infections, and autoimmune. Its approved melanoma drug, KIMMTRAK, is doing a
$350M+ run rate so 3-4x multiple =
$1-1.4B EV, implying lots of upside if the
pipeline works at current ~
$1.1B EV. PRAME could have 1L melanoma oppy as Ph3 is enrolling with data likely in the 2027 time frame, and stock could move on EPS and even HBV data in 2H25.
