Emily Bodnar, an analyst from H.C. Wainwright, maintained the Buy rating on Arcellx Inc. The associated price target remains the same with $115.00.
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Emily Bodnar’s rating is based on the promising clinical data from Arcellx Inc’s iMMagine-1 trial, which demonstrated strong efficacy in treating relapsed/refractory multiple myeloma. The trial showed high overall response rates and a significant percentage of patients achieving complete responses, with expectations for further improvement as follow-up continues. Additionally, the progression-free survival and overall survival rates are tracking well compared to similar trials, suggesting potential for superior outcomes.
Another factor influencing the Buy rating is the favorable safety profile of Arcellx’s treatment, with no delayed neurotoxicities or severe adverse events reported over a 12-month period. This safety aspect, combined with the recent decline in the stock price, presents an attractive entry point for investors ahead of upcoming regulatory filings and commercial updates. The combination of these clinical and financial factors underpins the positive outlook for Arcellx’s stock.
According to TipRanks, Bodnar is a 4-star analyst with an average return of 13.5% and a 35.89% success rate. Bodnar covers the Healthcare sector, focusing on stocks such as Atossa Therapeutics, AnaptysBio, and Olema Pharmaceuticals.
In another report released today, Needham also maintained a Buy rating on the stock with a $105.00 price target.