Arcellx price target raised to $130 from $121 at Canaccord

Canaccord analyst John Newman raised the firm’s price target on Arcellx (ACLX) to $130 from $121 and keeps a Buy rating on the shares. The firm conducted a detailed analysis of factors limiting Legend / JnJ’s CARVYKTI CART launchin Multiple Myeloma, which all suggest favorable launch conditions for Arcellx in 2026. They said based on their analysis of US CARVYKTI revenues, the first four quarters of the CARVYKTI revenue could have been about 2x higher, accounting for issues with Out Of Specification (OOS) product, slow manufacturing time, and infrastructure limitations.