Top 10 ADR Stocks To Buy According to Hedge Funds

5. Immunocore Holdings plc (NASDAQ:IMCR)

Number of Hedge Fund Holders: 24

Stock Upside Potential: 123.76%

Immunocore Holdings plc (NASDAQ:IMCR) is a biotech firm at the forefront of developing and providing groundbreaking immunomodulation drugs to significantly enhance results for individuals suffering from cancer, infectious illnesses, and autoimmune conditions.

The company’s lead product is KIMMTRAK, which has received approval in 38 nations and has been introduced in 19 countries. It targets patients with non-respectable or metastatic uveal melanoma (mUM). KIMMTRAK remains the benchmark treatment in most regions in which it has entered.

In Q2 2024, Immunocore Holdings plc (NASDAQ:IMCR) generated $75 million in revenues from its lead product, representing a 32% year-over-year increase. The increase was driven by increased penetration in community settings and duration of treatment. Total revenues in the quarter came in at $75.3 million compared to $56.9 million in the same quarter last year.

Analysts on Wall Street remain upbeat about Immunocore Holdings plc (NASDAQ:IMCR) ’s growth metrics driven by growth in its lead products. Consequently, they maintain a buy rating with an average price target of $80.62, implying a 123.76% upside potential from current levels.

According to Insider Monkey, 24 out of 912 hedge funds tracked held stakes in Immunocore Holdings plc (NASDAQ:IMCR) as of the end of Q2 2024. Julian Baker And Felix Baker’s Baker Bros. Advisors is the most significant shareholder of the company, with shares worth $51.35 million.