Analyst Emily Bodnar from H.C. Wainwright maintained a Buy rating on Arcellx Inc and keeping the price target at $115.00.
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Emily Bodnar’s rating is based on the promising data from Arcellx Inc’s pivotal iMMagine-1 trial, which demonstrated impressive efficacy and safety of anito-cel in treating relapsed/refractory multiple myeloma. The trial showed a high overall response rate and a significant percentage of patients achieving complete response, indicating strong potential for the therapy. Additionally, the safety profile was favorable, with no delayed neurotoxicities observed, enhancing confidence in the treatment’s viability.
Furthermore, the anticipated launch of anito-cel in 2026, supported by a strategic partnership with Kite, adds to the positive outlook. The company plans an ambitious rollout to over 160 treatment centers, leveraging Kite’s extensive regulatory expertise and established network. This comprehensive approach is expected to facilitate a successful market entry and broad patient access, supporting the Buy rating.
In another report released today, Barclays also maintained a Buy rating on the stock with a $115.00 price target.