Promising Potential of Arcellx Inc’s Anito-cel Therapy Drives Buy Rating

Morgan Stanley analyst Judah Frommer maintained a Buy rating on Arcellx Inc (ACLX – Research Report) yesterday and set a price target of $111.00.

Judah Frommer has given his Buy rating due to a combination of factors that highlight the promising potential of Arcellx Inc’s anito-cel therapy. The recent presentation at EHA 2025 underscored the commercial prospects of anito-cel, particularly in treating late- and early-line relapsed/refractory multiple myeloma (RRMM) patients. The data presented, including the iMMagine-1 trial results, suggest that anito-cel has a favorable safety and efficacy profile, which could position it as a differentiated option in the CAR-T treatment landscape.
Moreover, the iMMagine-3 trial design is expected to bolster anito-cel’s uptake in earlier treatment lines, as it enrolls patients who have undergone prior therapies, reflecting current treatment standards. The lack of serious side effects associated with anito-cel, as noted by key opinion leaders, could expand its use among underpenetrated patient populations, including healthier early-line and elderly patients. These factors, combined with the strategic GILD/Kite partnership, enhance Arcellx’s ability to capture market share, supporting Frommer’s positive outlook on the stock.