John Newman, an analyst from Canaccord Genuity, maintained the Buy rating on Arcellx Inc (ACLX – Research Report). The associated price target remains the same with $121.00.
John Newman’s rating is based on several compelling factors regarding Arcellx Inc’s prospects. The anticipated update in mid-2025 from the iMMagine-1 study is expected to demonstrate continued positive results for anito-cel, showcasing its superior efficacy and safety profile compared to competitors. The initial data from ASH 2024 indicated a high overall response rate and complete remission rate, with expectations for these responses to improve over time.
Furthermore, anito-cel’s safety profile is notably clean, with no significant neurotoxicity issues observed in trials, making it an attractive option for physicians. The commercial launch of anito-cel in 2026 is expected to proceed smoothly, supported by KITE/GILD’s manufacturing expertise. Unlike its competitors, anito-cel is not anticipated to face regulatory hurdles that could delay its market entry. With a solid cash position of $626 million, Arcellx is well-positioned to support its operations and key developments through 2027, justifying the Buy rating and a price target of $121.
Newman covers the Healthcare sector, focusing on stocks such as Merus, Delcath Systems, and Regeneron. According to TipRanks, Newman has an average return of -3.7% and a 33.54% success rate on recommended stocks.
In another report released today, Needham also maintained a Buy rating on the stock with a $105.00 price target.
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