Analyst Judah Frommer from Morgan Stanley maintained a Buy rating on Arcellx Inc and keeping the price target at $111.00.
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Judah Frommer has given his Buy rating due to a combination of factors surrounding Arcellx Inc’s promising developments in their anito-cel therapy for multiple myeloma. The company recently presented updated data at the ASH event, highlighting anito-cel’s efficacy and safety profile, which is comparable to Carvykti but with a notable absence of delayed neurotoxicity. This positions anito-cel favorably in the competitive landscape of CAR-T therapies.
Moreover, the imminent acceptance of the Biologics License Application (BLA) and the expected US launch in 2026 further support the potential for commercial success. The discussions at the event, involving key opinion leaders, emphasized the advantages of CAR-T therapies over bispecifics, particularly in terms of safety and quality of life for patients. These factors, combined with strategic partnerships and ongoing studies to expand CAR-T into broader settings, underpin Frommer’s optimistic outlook for Arcellx’s stock.
In another report released today, Bank of America Securities also maintained a Buy rating on the stock with a $112.00 price target.