Analyst Gil Blum from Needham maintained a Buy rating on Arcellx Inc (ACLX – Research Report) and keeping the price target at $105.00.
Gil Blum has given his Buy rating due to a combination of factors related to Arcellx Inc’s promising clinical developments and financial stability. The initial results from the pivotal iMMagine-1 study indicate that Arcellx’s anito-cel therapy demonstrates efficacy comparable to the current market leader, Carvykti, without any reported cases of delayed neurotoxicity. This positions anito-cel as a strong contender in the market for relapsed/refractory multiple myeloma (r/r MM) treatments.
Furthermore, Arcellx’s strategic plan to update results from the iMMagine-1 study by mid-2025 is expected to support their Biologics License Application (BLA) submission, with a potential product launch in 2026. The company’s financial health is also robust, with a cash reserve of $627 million at the end of 2024, providing a runway into 2027. These factors collectively de-risk the potential approval of anito-cel, justifying the Buy rating and a price target of $105.
Blum covers the Healthcare sector, focusing on stocks such as Geron, Sarepta Therapeutics, and Cartesian Therapeutics. According to TipRanks, Blum has an average return of -11.4% and a 31.59% success rate on recommended stocks.
In another report released today, Piper Sandler also maintained a Buy rating on the stock with a $115.00 price target.
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