Analyst Gil Blum of Needham maintained a Buy rating on Arcellx Inc (ACLX – Research Report), retaining the price target of $81.00.
Gil Blum’s rating is based on a multitude of encouraging factors surrounding Arcellx Inc. Firstly, the company’s innovative D-Domain binder is a key element in the superior safety profile of their product, anito-cel, particularly in relation to low rates of CRS/ICANS and its consistent quality across different batches. Furthermore, the management’s confidence in enrolling patients for earlier line anito-cel studies, despite competition, suggests a belief in the product’s strong market potential. This is bolstered by the view that the greater than $12 billion market opportunity will remain largely untapped at the expected launch time of anito-cel.
Additionally, the partnership with Gilead, which involves Gilead bearing all manufacturing and commercial readiness costs, significantly mitigates financial risks for Arcellx. This strategic collaboration is poised to enable a swift market ramp-up given Gilead’s extensive manufacturing capabilities. While investors have shown concern about existing competition, they appear to be persuaded by anito-cel’s robust clinical data. Based on these insights, coupled with the anticipated positive outcomes from the iMMagine-1 study, Gil Blum maintains a Buy rating with a confident $81 price target for Arcellx Inc.
Blum covers the Healthcare sector, focusing on stocks such as Geron, G1 Therapeutics, and Nurix Therapeutics. According to TipRanks, Blum has an average return of 3.9% and a 41.64% success rate on recommended stocks.
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Arcellx Inc (ACLX) Company Description:
Arcellx Inc is a clinical-stage biotechnology company reimagining cell therapy through the development of innovative immunotherapies for patients with cancer and other incurable diseases.
