Wells Fargo initiated coverage of Arcellx (ACLX) with an Overweight rating and $100 price target The firm views the company’s anito-cel as a “future pillar” in the treatment of multiple myeloma. Anito-cel can expand and capture a majority of the BCMA CAR-T market in fourth-line multiple myeloma given its “attractive” efficacy and safety profile, the analyst tells investors in a research note. Wells expects “rapid uptake” upon launch in 2026. The firm also sees opportunities for Arcellx in CAR-T despite recent data from competitors.
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