Analyst Benjamin Burnett from Stifel Nicolaus maintained a Buy rating on Arcellx Inc (ACLX – Research Report) and keeping the price target at $122.00.
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Benjamin Burnett has given his Buy rating due to a combination of factors surrounding Arcellx Inc’s innovative therapeutic developments and promising market potential. The company’s BCMA-CAR-T therapy, anito-cel, demonstrated significant differentiation from competitive products, notably lacking delayed neurotoxicity and Parkinsonism in trials. These safety attributes, alongside the absence of cranial nerve palsies, set anito-cel apart from similar therapies like cilta-cel, boosting investor confidence.
Furthermore, management’s projections of a substantial total addressable market (TAM) for their iMMagine-3 product, estimated at $12 billion, enhance the investment thesis. The anticipated mid-year data release from the iMMagine-1 trial is expected to reinforce the belief in anito-cel’s potential as a best-in-class therapy, thereby strengthening the buy argument. Such data could also positively sway key opinion leaders towards its use in second-line treatment settings, further solidifying its market position.