IMCR vs IMMP

Immunocore Holdings plc vs Immutep Limited — Valuation Comparison 2026

By CirclFi Research Team · Updated 2026-06-03 · Data from SEC EDGAR, FRED & GDELT

Quick Summary — IMCR scores higher on quality with 8.2/10 vs IMMP's 4.9/10. IMCR trades at $29.56 while IMMP trades at $0.42. Both analyzed daily using SEC EDGAR data across 13 institutional models.

IMCR

Biotechnology
Immunocore Holdings plc
Quality
8.2
out of 10
Value Trap
6
SAFE
Price
$29.56
Last close
Models
12/13
Active
VS

IMMP

Biotechnology
Immutep Limited
Quality
4.9
out of 10
Value Trap
24
SAFE
Price
$0.42
Last close
Models
9/13
Active
IMCR
Earnings Power Value sees +1.9% upside
Limited to 2/13 visible models
IMMP
Dynamic NAV sees +63.5% upside
Quality 4.9/10 — below average

IMCR vs IMMP — Fair Value Comparison

IMCR
$0$12$23$35 Price$29.56 Bayesian …$14.36 (-51.4%) Earnings …$28.68 (+1.9%)
IMMP
$0$0$1$1 Price$0.42 Bayesian …$0.29 (-31.0%) Dynamic N…$0.68 (+63.5%)
Market Price Model 1 Model 2

Model-by-Model Comparison

ModelType IMCR Fair ValueIMCR Upside IMMP Fair ValueIMMP Upside
Bayesian DCF Intrinsic $14.36 -51.4% $0.29 -31.0%
Earnings Power Value Intrinsic $28.68 +1.9%
EROIC Spread Intrinsic $•••.•• ••.•% $•••.•• ••.•%
First Chicago Scenario $•••.•• ••.•% $•••.•• ••.•%
ML-RIV Intrinsic $•••.•• ••.•% $•••.•• ••.•%
Dynamic NAV Asset-Based $5.69 -80.8% $0.68 +63.5%
PWERM Option-Based $•••.•• ••.•% $•••.•• ••.•%
Regime Cross-Sectional Relative $•••.•• ••.•% $•••.•• ••.•%
Sentiment SOTP Hybrid $•••.•• ••.•% $•••.•• ••.•%
CUCE Ensemble Ensemble $•••.•• ••.•% $•••.•• ••.•%
FTNN Topology Relative $•••.•• ••.•% $•••.•• ••.•%
RCMH-DCF Intrinsic $•••.•• ••.•% $•••.•• ••.•%

IMCR vs IMMP — Which Stock Is More Undervalued in 2026?

IMCR scores higher with a 8.2/10 quality rating vs IMMP's 4.9/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

How Do IMCR and IMMP Valuations Compare?

At $29.56, IMCR trades +51.4% above its Bayesian DCF fair value of $14.36, while IMMP at $0.42 trades +31.0% above its estimate of $0.29. IMCR shows a wider gap between price and intrinsic value.

Quality of Company: IMCR vs IMMP

IMCR earns a Quality of Company score of 8.2/10 compared to IMMP's 4.9/10. This is a significant quality gap — the higher-scoring company demonstrates materially stronger fundamentals across profitability, growth consistency, and balance sheet health. The QOC score synthesizes 32 signals spanning profitability margins, revenue growth, free cash flow, capital allocation, and leverage.

Value Trap Risk: IMCR vs IMMP

IMCR carries a SAFE value trap risk (6/100) while IMMP shows SAFE risk (24/100). Both companies show manageable value trap risk, suggesting their current valuations are not artificially depressed by fundamental deterioration.

Both in Biotechnology

Both IMCR and IMMP operate in Biotechnology, which has 566 stocks tracked by CirclFi. Same-industry comparisons provide the most direct insight into relative valuation since both companies face similar regulatory environments, market dynamics, and competitive pressures. Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN), and ensemble methods (CUCE).

2 of 13 MODELS UNLOCKED

You’re comparing 2 models. 11 more have an opinion.

11 hidden models compare IMCR vs IMMP differently — including EROIC Spread, First Chicago, Markov DDM, PWERM, and 7 more. Some may disagree with the 2 you see above.

11 additional fair values per stock Full confidence breakdown Live terminal — 5,000+ stocks

Bloomberg Terminal: ~$2,000/mo  ·  FactSet: ~$1,000/mo  ·  CirclFi: $0.90/day

See All 13 Models — $0.90/day

We don’t predict prices. We show you what 13 independent mathematical frameworks say a stock is worth — and let you decide.

See all Biotechnology stocks →