Guggenheim analyst Kelsey Goodwin raised the firm’s price target on Arcellx (ACLX) to $58 from $45 and keeps a Buy rating on the shares after updating the firm’s anti-BCMA CAR-T market model and assumptions to reflect recent industry news, including Johnson & Johnson’s (JNJ) Q1 earnings and positive CARTITUDE-4 results. The firm has higher conviction of CART-dd BCMA’s opportunity in earlier stage MM patients, the analyst tells investors in a research note.
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Published first on TheFly
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Read More on ACLX:
- Arcellx price target raised to $40 from $34 at Canaccord
- Arcellx initiated with an Outperform at Baird
- Arcellx price target raised to $39 from $35 at SVB Securities
- Arcellx Provides Fourth Quarter and Year-End 2022 Financial Results and Business Highlights
- Arcellx reports Q4 net loss $39.0M vs. $20.7M last year