Arcellx price target raised to $136 from $87 at Truist

Truist raised the firm’s price target on Arcellx (ACLX) to $136 from $87 and keeps a Buy rating on the shares after its Q3 results. The firm is continuing to appreciate Anito-cel’s differentiation from Carvykti, modeling Arcellx in a stronger position in late line and second line multiple myeloma, the analyst tells investors in a research note. The preliminary data in ASH abstracts is trending in a way to give Truist confidence that Anito-cel will get approved, the firm added.