Immix Biopharma initiated with an Overweight at Morgan Stanley

Morgan Stanley initiated coverage of Immix Biopharma (IMMX) with an Overweight rating and $20 price target The company is developing NXC-201, a BCMA-directed CAR-T therapy for relapsed/refractory AL amyloidosis, the analyst tells investors in a research note. The firm says that based on “encouraging” clinical data across two studies and the potential to become the first approved CAR-T in the indication, it sees a path to a $1B-plus opportunity in the U.S. setting alone.