Arcellx price target raised to $133 from $82 at Scotiabank

Scotiabank raised the firm’s price target on Arcellx (ACLX) to $133 from $82 and keeps an Outperform rating on the shares. The firm adjusted its model following “highly compelling results” reported from the company’s Phase 1 and Phase 2 iMMagine-1 trials evaluating anito-cel, the analyst tells investors. The results have increased the firm’s confidence that an eventual anito-cel biologics license agreement will be filed in mid-2025.