Immunocore Holdings (IMCR) continues to attract attention after reporting annual revenue of US$412.8 million and a net loss of US$27.6 million, which puts its current US$1.45b market value into sharper focus for investors.
See our latest analysis for Immunocore Holdings.
At a share price of US$28.59, Immunocore Holdings has seen its share price return decline 15.36% year to date, while the 1 year total shareholder return is down 9.81%. This points to cooling momentum after several years of weaker long term total returns.
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With Immunocore Holdings stock trading at US$28.59 and the company reporting annual revenue of US$412.8 million alongside a net loss, investors now face a key question: is there genuine value on offer here, or is the market already pricing in future growth?
Most Popular Narrative: 57.1% Undervalued
Against Immunocore Holdings' last close at $28.59, the most widely followed narrative anchors fair value at $66.57, creating a wide valuation gap that centers on future cash generation and pipeline execution.
Significant cash balance ($883 million) and disciplined SG&A spend provide Immunocore with the resources and strategic flexibility to advance its clinical portfolio and capitalize on long-term industry trends, supporting revenue growth and potential positive net margins in the future.
Want to see what sits behind that fair value for Immunocore Holdings? The narrative focuses on accelerating revenue, rising margins and a rich late stage pipeline. Curious how those moving parts are projected to play out? The full breakdown shows exactly how those assumptions stack up against today’s price.
Result: Fair Value of $66.57 (UNDERVALUED)
Have a read of the narrative in full and understand what's behind the forecasts.
However, the Immunocore Holdings story still hinges heavily on KIMMTRAK, and any clinical or regulatory setbacks in its late stage trials could quickly challenge that undervalued narrative.
Find out about the key risks to this Immunocore Holdings narrative.
Next Steps
Given the mix of optimism and caution around Immunocore Holdings, this is a moment to move quickly, review the numbers in detail, and decide where you stand. To see which potential upsides investors are focusing on right now, take a closer look at the 2 key rewards.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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