Immunocore Announces R&D Leadership Changes

Written by Emily J. Thompson, Senior Investment Analyst

Source: Newsfilter

Updated: Jan 30 2026

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IMCR-0.95%

Should l Buy IMCR?

Source: Newsfilter

Executive Departure: Immunocore announced that Executive Vice President of R&D David Berman will leave the company on February 27, 2026, to take a role at another biotech firm, indicating a significant leadership transition for the company.
Internal Promotions: The company is promoting current Chief Medical Officer Mohammed Dar and Head of Regulatory Sciences Mark Moyer to Executive Vice President roles, with expanded responsibilities for clinical development and regulatory strategies, aiming to enhance R&D efficiency by leveraging the existing leadership team.
R&D Achievements: Dar has led clinical development since 2019, successfully advancing KIMMTRAK to regulatory approval, which is now approved in 39 countries, showcasing the company's strong capabilities in oncology immunotherapy.
Strategic Commitment: CEO Bahija Jallal expressed confidence in the R&D team despite the executive changes, committing to continue advancing clinical programs to meet patient needs for transformative therapies.

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Analyst Views on IMCR

Wall Street analysts forecast IMCR stock price to rise

9 Analyst Rating

7 Buy

2 Hold

0 Sell

Strong Buy

Current: 32.670

Low

37.00

Averages

64.56

High

100.00

Current: 32.670

Low

37.00

Averages

64.56

High

100.00

Mizuho

Neutral

maintain

$37 -> $38

2026-02-19

Reason

Mizuho

Price Target

$37 -> $38

AI Analysis

2026-02-19

maintain

Neutral

Reason

Mizuho raised the firm's price target on Immunocore to $38 from $37 and keeps a Neutral rating on the shares.

Morgan Stanley

Sean Laaman

Equal Weight

maintain

$36 -> $40

2026-01-08

Reason

Morgan Stanley

Sean Laaman

Price Target

$36 -> $40

2026-01-08

maintain

Equal Weight

Reason

Morgan Stanley analyst Sean Laaman raised the firm's price target on Immunocore to $40 from $36 and keeps an Equal Weight rating on the shares. The firm sees a continuation of U.S. small-to-mid cap biotech's outperformance in 2026 as commercial names transition from "capital consumers to producers" and Large Cap Biopharma faces a looming patent cliff, the analyst tells investors in an outlook note for the group.

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About IMCR

Immunocore Holdings plc is a United Kingdom-based commercial-stage biotechnology company. The Company is engaged in the development of TCR bispecific immunotherapies, ImmTAX, which immunes mobilizing monoclonal TCRs against X disease, designed to treat a range of diseases, including cancer, autoimmune and infectious disease. The Company has a pipeline of clinical-stage programs in oncology and infectious diseases, as well as numerous pre-clinical projects. Its lead product, KIMMTRAK, is a TCR therapeutic for the treatment of patients with unresectable or metastatic uveal melanoma (mUM), in the United States, European Union, Canada, Australia and the United Kingdom. Its pipeline products include Brenetafusp, IMC-P115C, IMC-T119C, IMC-R117C, IMC-M113V, IMC-I109V, IMC-S118AI, and IMC-U120AI, among others. Its clinical programs are being conducted with patients with a range of cancers including melanoma, ovarian, lung, colorectal and others.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.

Immunocore (IMCR) Q4 2025 Earnings Call Transcript

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Immunocore Q4 Earnings Report Analysis

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Disappointing Earnings: Immunocore reported a Q4 GAAP EPS of -$0.60, missing expectations by $0.42, indicating challenges in profitability that may affect investor confidence.
Lackluster Revenue Growth: Although revenue increased by 24.3% year-over-year to $104.48 million, it fell short of expectations by $3.29 million, reflecting intensified market competition and a need for strategic adjustments in sales.
Strong Cash Reserves: As of December 31, 2025, Immunocore held $864.2 million in cash, cash equivalents, and marketable securities, ensuring ample funding for future R&D and operations, thereby enhancing financial stability.
Uncertain Market Outlook: Immunocore's presentation at the J.P. Morgan Healthcare Conference garnered attention, yet the current financial data may lead to diminished investor confidence regarding its future growth prospects.

Immunocore Set to Announce Q4 Earnings on February 25

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Earnings Announcement: Immunocore (IMCR) is scheduled to release its Q4 earnings on February 25 before the market opens, with investors keenly awaiting the results to gauge the company's growth potential.
Earnings Expectations: The consensus EPS estimate stands at -$0.20, reflecting a 57.4% year-over-year increase, indicating significant improvement in profitability despite remaining in negative territory.
Revenue Expectations: The consensus revenue estimate is $107.77 million, representing a 28.2% year-over-year growth, highlighting a positive trend in market demand and product sales for Immunocore.
Estimate Revisions: Over the past three months, EPS estimates have seen no upward revisions and two downward adjustments, while revenue estimates experienced one upward revision and one downward adjustment, indicating analyst divergence regarding the company's financial outlook.