Leerink Partners analyst Daina Graybosch maintained a Buy rating on Arcellx Inc on August 8 and set a price target of $104.00.
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Daina Graybosch’s rating is based on the promising clinical outcomes of Arcellx Inc’s anito-cel therapy in the treatment of relapsed/refractory multiple myeloma. The 18-month progression-free survival (PFS) rate of 66% and overall survival (OS) rate of 90% are competitive when compared to similar therapies, such as BCMA CAR-T cilta-cel. This suggests a strong potential for anito-cel to be a leading treatment option in its category.
Daina Graybosch also highlights the low toxicity profile of anito-cel, with no observed cases of serious side effects like parkinsonism or cranial nerve palsy, which further differentiates it from competitors. The upcoming data presentation at the American Society of Hematology meeting is anticipated to provide more mature outcomes, potentially solidifying anito-cel’s competitive edge and influencing Arcellx’s stock performance significantly.
In another report released yesterday, Evercore ISI also maintained a Buy rating on the stock with a $115.00 price target.