UBS initiated coverage of Arcellx with a Buy rating and $52 price target. Arcellx’s CART-ddBCMA is uniquely well-positioned for relapsed/ refractory multiple myeloma market, the analyst tells investors in a research note. UBS conservatively estimates 60% PoS with risk-adjusted sales of $1B globally by 2035, and believes Arcellx’s collaboration agreement with Kite provides a competitive advantage.
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