Arcellx Inc (ACLX – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Emily Bodnar from H.C. Wainwright maintained a Buy rating on the stock and has a $115.00 price target.
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Emily Bodnar has given her Buy rating due to a combination of factors that highlight the promising potential of Arcellx Inc’s anito-cel therapy. The updated data from the iMMagine-1 study, which will be presented at the EHA, is expected to show significant follow-up results, potentially positioning anito-cel as a best-in-class treatment for relapsed or refractory multiple myeloma. The anticipated 18-month progression-free survival (PFS) rate could surpass 70%, which would be considered a positive outcome compared to existing treatments.
Moreover, the addition of minimal residual disease (MRD) negativity as a dual primary endpoint in the iMMagine-3 trial aligns with regulatory guidance and could enhance the efficacy profile of the therapy. This strategic move may also expedite the regulatory approval process, especially in light of the current challenges in the cell therapy sector. The absence of significant neurotoxicities in the safety data further differentiates anito-cel from its competitors, supporting a favorable risk-benefit profile. These factors collectively underpin Bodnar’s optimistic outlook and Buy rating for Arcellx Inc.
According to TipRanks, Bodnar is an analyst with an average return of -8.4% and a 27.02% success rate. Bodnar covers the Healthcare sector, focusing on stocks such as Femasys, Olema Pharmaceuticals, and AnaptysBio.
In another report released today, Barclays also maintained a Buy rating on the stock with a $115.00 price target.