Bank of America Securities analyst Jason Gerberry maintained a Buy rating on Arcellx Inc yesterday and set a price target of $112.00.
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Jason Gerberry’s rating is based on the promising outlook for Arcellx Inc’s anito-cel therapy in the treatment of multiple myeloma. Despite recent market fluctuations influenced by competitor data, Gerberry maintains a positive stance on ACLX due to the potential of anito-cel to launch successfully in the multiple myeloma market.
Gerberry’s confidence is bolstered by expert opinions favoring CAR-T therapies over bi-specific options, especially in second-line treatments where patients are better candidates for CAR-T cell production. The experts also highlight the preference for CAR-T’s one-time treatment approach compared to the ongoing administration required for bi-specific therapies. Additionally, the emerging anito-cel therapy shows a lower risk of delayed neurotoxicity, further supporting its potential advantage in the market.
In another report released yesterday, Guggenheim also maintained a Buy rating on the stock with a $120.00 price target.