UBS analyst Ashwani Verma raised the firm’s price target on Arcellx (ACLX) to $114 from $106 and keeps a Buy rating on the shares. UBS believes Arcellx’s anito-cel has generated similar efficacy and better safety profile compared to Legend Biotech’s (LEGN) Carvykti, and while Legend bulls may argue Arcellx “cherry-picked” patients, the firm believes that the data speaks for itself and settles the debate, the analyst tells investors in a research note.
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