Arcellx price target raised to $115 from $73 at Barclays

Barclays raised the firm’s price target on Arcellx (ACLX) to $115 from $73 and keeps an Overweight rating on the shares following a transfer of coverage. The firm sees an increased probability of success and penetration for anito-cel in multiple myeloma based on the “emerging differentiated” efficacy and safety profile. The analyst says Arcellx has attractive commercial launch infrastructure supported by Gilead. This provides a positive set-up to compete in the multiple myeloma cell therapy market, the analyst tells investors in a research note.