IMCR (Immunocore Holdings) Moat Score: 5/10 (As of Jul. 06, 2026)


IMCR Immunocore Holdings PLC IMCR
76 GF Score
Price $32.48
GF Value $46.16
Valuation Possible Value Trap
! 3 Warning Signs
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What is Immunocore Holdings Moat Score?

Immunocore Holdings IMCR +2.75% 76 Moat Score is 5 as of Jul. 06, 2026. GuruFocus rates IMCR with a GF Score™ of 76/100 and a GF Value™ of $46.16 (Possible Value Trap). The stock has 3 warning signs investors should review. Among 1,395 Biotechnology companies, Immunocore Holdings ranks better than 96.7% on this metric.

Immunocore Holdings has the Moat Score of 5, which implies that the company might have Narrow Moat - Solid narrow moat.

Immunocore Holdings has Narrow Moat: Immunocore Holdings PLC has a solid narrow moat due to its valuable intellectual property and strong R&D capabilities in biotechnology. However, it lacks significant network effects, brand strength, or regulatory barriers to elevate it to a wide moat.

Moat Score is a ranking system developed by GuruFocus to assess a company's ability to sustain a competitive advantage, rated on a scale from 0 to 10. It takes into account key factors such as market leadership, cost advantages, network effects, customer switching costs, and more.

The company's Moat Score is based on these criteria:

1. Market leadership and sustainable market share
2. Network effects and significant customer switching costs
3. Valuable intellectual property and patents
4. Strong brand strength and deep customer loyalty
5. Durable cost advantages (e.g., economies of scale, proprietary technology)
6. Significant regulatory barriers and exclusive licenses
7. Superior distribution network
8. Strong and sustainable pricing power
9. Consistent and impactful innovation and R&D capabilities

Based on the research, GuruFocus believes Immunocore Holdings might have Narrow Moat - Solid narrow moat.

Immunocore Holdings  (NAS:IMCR) Moat Score Explanation

The Moat Score ranges from 0 to 10, with 10 as the highest. GuruFocus divided Moat Score into following 8 categories:

Moat Score Moat Level
10Wide Moat - Exceptionally dominant and durable wide moat
8 - 9Wide Moat - Clear and robust wide moat
7Wide Moat - Entry-level wide moat, clearly possessing durable advantages
6Narrow Moat - Strong narrow moat, clearly distinguishable but not wide
5Narrow Moat - Solid narrow moat
4Narrow Moat - Discernible but modest moat
1 - 3No Moat - Very weak/transient advantages
0No Moat - No discernible moat

Immunocore Holdings Moat Score Related Terms

IMCR vs MAZE, DMRA, AVBP: Moat Score Comparison

For the Biotechnology subindustry, Immunocore Holdings's Moat Score, along with its competitors' market caps and Moat Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Immunocore Holdings Moat Score vs Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Immunocore Holdings's Moat Score distribution charts can be found below:

* The bar in red indicates where Immunocore Holdings's Moat Score falls into.


IMCR
76GF Score
Immunocore Holdings PLC IMCR
Moat Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Frequently Asked Questions Learn more about Moat Score →
What does a Moat Score of 5 mean?
Immunocore Holdings (IMCR) has a Moat Score of 5 as of Jul. 06, 2026. Moat Score is a ranking system developed by GuruFocus to assess a company's ability to sustain a competitive advantage, rated on a scale from 0 to 10. It takes into account key factors such as market leadership, cost advantages, network effects, customer switching costs, and more. According to the industry distribution chart, Immunocore Holdings ranks #46 out of 1395 companies in the Biotechnology industry, placing it in the top 3.3%.
Is Immunocore Holdings' Moat Score too high?
Immunocore Holdings' current Moat Score is 5. The Biotechnology industry median Moat Score is 2.00. Immunocore Holdings' value of 5 is 150% above this industry median. Based on the distribution chart, Immunocore Holdings ranks #46 out of 1395 companies in the Biotechnology industry, which is in the top quartile — a strong position relative to peers. Overall, Immunocore Holdings has a GF Score™ of 76/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Immunocore Holdings' Moat Score compare to MAZE and DMRA?
According to the Biotechnology industry distribution chart, Immunocore Holdings ranks #46 out of 1395 companies for Moat Score. This places Immunocore Holdings in the top 3% of its industry — outperforming the majority of peers. The industry median Moat Score is 2.00. Immunocore Holdings' value of 5 is 150% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Moat Score for a Biotechnology company?
The median Moat Score among Biotechnology companies is 2.00, based on 1,395 companies in the industry. Companies in the top quartile (top 25%) have a Moat Score significantly above this median, while those in the bottom quartile fall well below. However, Moat Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Immunocore Holdings's current Moat Score of 5 is 150% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Moat Score mean?
A high Moat Score can signal that a stock is expensive relative to its fundamentals. Moat Score is a ranking system developed by GuruFocus to assess a company's ability to sustain a competitive advantage, rated on a scale from 0 to 10. It takes into account key factors such as market leadership, cost advantages, network effects, customer switching costs, and more. For the Biotechnology industry, the median Moat Score is 2.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Immunocore Holdings's current Moat Score is 5. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Immunocore Holdings stock overvalued right now?
Based on GuruFocus' analysis, Immunocore Holdings (IMCR) is currently considered Possible Value Trap. The stock's GF Value™ is $46.16, compared to a current price of $32.48 — trading 29.6% below its estimated fair value. The current Moat Score is 5 and 150% above the Biotechnology industry median of 2.00. Immunocore Holdings' overall GF Score™ is 76/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Moat Score calculated?
Moat Score is calculated from a company's financial statements. For Immunocore Holdings (IMCR), the current Moat Score is 5 as of Jul. 06, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Immunocore Holdings (IMCR) Overvalued in 2026?

Based on GuruFocus' analysis, Immunocore Holdings stock appears to be undervalued. The current stock price of $32.48 is trading 29.6% below its estimated GF Value™ of $46.16. GuruFocus considers Immunocore Holdings to be Possible Value Trap.

Key valuation signals for IMCR:

  • Moat Score: 5
  • GF Value™: $46.16 vs. price of $32.48 (29.6% below fair value)
  • GF Score™: 76/100 with 3 warning signs
  • Industry Position: 150% above the Biotechnology median (#46 of 1395)

No single metric tells the full story. See the IMCR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Immunocore Holdings Business Description

Other Exchanges 6YG:Germany
Address 92 Park Drive, Milton Park, Abingdon, Oxfordshire, GBR, OX14 4RY
Immunocore Holdings PLC is a commercial-stage biotechnology company. Using its ImmTAX platform, the company is developing a deep pipeline in multiple therapeutic areas, including clinical stage programs in oncology and infectious disease, pre-clinical programs in autoimmune disease, and earlier pre-clinical programs across three therapeutic areas. The company's main product, KIMMTRAK, is used for the treatment of unresectable or metastatic uveal melanoma (mUM). The other drug candidates in its pipeline include Brenetafusp, IMC-P115C, IMC-T119C, IMC-R117C, IMC-S118AI, IMC-U120AI, and others, being developed as a potential treatment for various oncology, infectious, and autoimmune diseases.
76GF Score

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$32.48
Price
$46.16
GF Value