In a report released on February 28, Daina Graybosch from Leerink Partners maintained a Buy rating on Arcellx Inc (ACLX – Research Report), with a price target of $104.00.
Daina Graybosch’s rating is based on several compelling factors surrounding Arcellx Inc’s potential. The anticipated update on Arcellx’s autologous BCMA CAR-T therapy, anito-cel, expected in mid-2025, is seen as a significant catalyst for the stock. This update is likely to provide more mature data from the iMMagine-1 trial, which is crucial for investors who are keen to see how anito-cel differentiates itself from the market leader, Carvykti, particularly in terms of movement neurotoxicity and progression-free survival. Graybosch expresses strong confidence that these outcomes will be favorable, which supports the Buy rating.
Additionally, the analyst highlights Arcellx’s strategic moves, such as adding a second tumor antigen target to their universal CAR-T platform, which could enhance their market position. The company’s robust financial standing, with $626 million in cash and a financial runway extending into 2027, further strengthens the case for a positive outlook. These elements, combined with the potential for rapid growth driven by Kite’s commercial capabilities, underpin Graybosch’s optimistic assessment of Arcellx’s future performance.
According to TipRanks, Graybosch is an analyst with an average return of -16.1% and a 30.32% success rate. Graybosch covers the Healthcare sector, focusing on stocks such as Merck & Company, Arcus Biosciences, and BioNTech SE.
In another report released on February 28, Morgan Stanley also maintained a Buy rating on the stock with a $111.00 price target.
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