Morgan Stanley analyst Judah Frommer has maintained their bullish stance on ACLX stock, giving a Buy rating yesterday.
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Judah Frommer has given his Buy rating due to a combination of factors influencing Arcellx Inc’s positioning in the market. The company’s CAR-T therapy, anito-cel, is expected to maintain its efficacy and safety profile, which is crucial for its competitive stance in the treatment of multiple myeloma (MM). The therapy’s potential to achieve high minimal residual disease (MRD) negativity rates and its differentiated safety profile compared to existing treatments like Carvykti are key considerations.
Furthermore, Arcellx’s management anticipates that CAR-T therapies will capture a significant portion of the 2L-3L global MM market, particularly within larger health systems and academic centers. This assumption remains unchanged despite recent debates over the use of CAR-Ts versus bispecifics. The upcoming data presentations at the ASH meeting are expected to provide further support for anito-cel’s durability and efficacy, potentially driving stock upside if the data aligns with expectations.
According to TipRanks, Frommer is a 3-star analyst with an average return of 1.5% and a 54.81% success rate. Frommer covers the Healthcare sector, focusing on stocks such as Zenas BioPharma, Inc., Galapagos, and Incyte.
In another report released yesterday, Piper Sandler also maintained a Buy rating on the stock with a $115.00 price target.