Arcellx price target raised to $77 from $65 at BofA

BofA analyst Jason Gerberry raised the firm’s price target on Arcellx (ACLX) to $77 from $65 and keeps a Buy rating on the shares. Citing Gilead’s (GILD) opt-in for Arcellx’s follow-on CAR-T program, ARC-SparX, and the recent positive CHMP opinion on competitor CAR-T Carvykti Cartitude-4, the firm now projects 5%-20% higher total company nominal revenue in 2026-30, the analyst tells investors.