Why Are Amicus, Immunocore, & Immuneering Stocks Trading Lower On Friday?

Morgan Stanley Analyst Actions - Morgan Stanley downgraded Amicus Therapeutics Inc FOLD to Equal-weight from Overweight and lowered the price target from $17 to $12 [2] - The analyst noted that Amicus is well-positioned but expectations are largely priced into shares [1] - Investors are shifting focus to the company's next leg of growth, with potential updates to the pipeline in 2025 and beyond [2] Immunocore Holdings plc IMCR Analysis - Morgan Stanley lowered the price target for Immunocore Holdings plc IMCR from $74 to $35 due to disappointing data for brenetafusp in cutaneous melanoma and ovarian cancer [3] - The analyst continues to give full credit for Kimmtrak (tebentafusp), which was approved for unresectable or metastatic uveal melanoma [3] - Limited upside potential is seen from additional brenetafusp updates as the company detects signals in metastatic NSCLC and combination in earlier-line NSCLC [4] Immuneering Corp IMRX Analysis - Morgan Stanley downgraded Immuneering Corp IMRX shares to Underweight from Equal-weight and set a base case range of $1 to $5 versus the previous target of $4 [5] - The analyst supports Immuneering's strategy of targeting the MAPK pathway but notes stronger investment opportunities in the coverage on a relative basis [5] - Early clinical results are promising but more robust data with a larger patient pool is needed to confirm outcomes [6] Stock Price Movements - IMRX stock is down 18% at $1 615 [6] - IMCR stock is down 5 89% at $28 53 [6] - FOLD stock is down 6 70% at $9 47 [6]