Arcellx price target raised to $62 from $49 at Barclays

Barclays raised the firm’s price target on Arcellx to $62 from $49 and keeps an Overweight rating on the shares. Gilead and Arcellx this morning announced an expansion to their partnership, with Gilead opting in for BCMA Arc-SparX program for myeloma, and the companies expanding the CART-ddBCMA program to include lymphomas, the analyst tells investors in a research note. The firm says the timing and pricing bodes well for Arcellx’s near-term CART-ddBCMA update.