Scotiabank lowered the firm’s price target on Arcellx (ACLX) to $93 from $133 and keeps an Outperform rating on the shares. While iMMagine-1 results support an ultimately positive trial outcome in end-stage multiple myeloma, changes at Centers for Biologics Evaluation and Research warn of new regulatory risk that has begun and will continue to weigh on the anito-cel regulatory path, the analyst tells investors.
Confident Investing Starts Here:
- Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ACLX:
- Promising Potential of Arcellx Inc’s Anito-cel Therapy: A Buy Rating Backed by Positive Study Data and Strategic Trial Enhancements
- Arcellx Inc: Promising iMMagine-1 Trial and Strong Financial Outlook Reinforce Buy Rating
- Arcellx Inc. Receives Buy Rating: Strong Financial Outlook and Promising Data Catalysts
- Promising Potential of Arcellx Inc’s Anito-cel Program Drives Buy Rating
- Arcellx’s Promising Trial Results and Strategic Partnerships Justify Buy Rating with $121 Target