Analyst John Newman from Canaccord Genuity maintained a Buy rating on Arcellx Inc (ACLX – Research Report) and keeping the price target at $121.00.
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John Newman has given his Buy rating due to a combination of factors including the anticipated positive updates from Arcellx’s iMMagine-1 trial at the European Hematology Association meeting. The trial is expected to demonstrate strong safety data, particularly with no cases of delayed neurotoxicity, which sets it apart from competitors like CARVYKTI.
Furthermore, Arcellx is projected to provide promising Progression Free Survival and Complete Response updates, which could indicate a competitive edge over similar treatments. The company’s partnership with KITE for manufacturing is expected to ensure a smooth commercial launch in 2026, avoiding the pitfalls experienced by others. Additionally, the iMMagine-3 control arm is considered more relevant compared to CARTITUDE-4, potentially leading to more significant results. These factors, combined with Arcellx’s strong cash position, support the Buy rating and a price target of $121.