Arcellx price target raised to $106 from $81 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Arcellx (ACLX) to $106 from $81 and keeps an Overweight rating on the shares. The firm is increasing its view of the odds of success for anito-cel following the initial data set from Arcellx’s iMMagine-1 Phase 2 trial in relapsed/refractory multiple myeloma patients, or rrMM. The firm sees “ample market share opportunity” for anito-cel, initially in later-line patients and eventually in earlier-line patients, should the current clinical profile largely hold, the analyst added.