Is IMCR or IMTX more undervalued in 2026?

CirclFi compares Immunocore Holdings plc (IMCR) and Immatics N.V. (IMTX) using 13 institutional-grade valuation models. IMCR has a Quality of Company score of 8.2/10 while IMTX scores 4.3/10.

Which is a better buy — IMCR or IMTX?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do IMCR and IMTX valuations compare?

IMCR at $28.89 and IMTX at $11.51 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

IMCR vs IMTX Valuation Comparison 2026 — Intrinsic Value Analysis

IMCR

Biological Products, (No Diagnostic Substances)

Immunocore Holdings plc

Quality

8.2

out of 10

Value Trap

SAFE

Price

$28.89

Last close

Models

12/13

Active

IMTX

Biological Products, (No Diagnostic Substances)

Immatics N.V.

Quality

4.3

out of 10

Value Trap

SAFE

Price

$11.51

Last close

Models

8/13

Active

Model-by-Model Comparison

Model	Type	IMCR Fair Value	IMCR Upside	IMTX Fair Value	IMTX Upside
Bayesian DCF	Intrinsic	$14.45	-50.0%	$3.35	-70.9%
Earnings Power Value	Intrinsic	$28.68	+1.9%	—	—
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$3.86	-86.6%	$0.84	-92.2%
Dynamic NAV	Asset-Based	$•••.••	••.•%	$•••.••	••.•%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$•••.••	••.•%	$•••.••	••.•%

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IMCR vs IMTX — Which Stock Is More Undervalued?

IMCR scores higher with a 8.2/10 quality rating vs IMTX's 4.3/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Immunocore Holdings plc (IMCR) and Immatics N.V. (IMTX) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

IMCR currently trades at $28.89 with a QOC of 8.2/10, while IMTX trades at $11.51 with a QOC of 4.3/10.

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 Topology), and ensemble methods (CUCE).