Arcellx price target raised to $85 from $66 at Canaccord

Canaccord raised the firm’s price target on Arcellx to $85 from $66 and keeps a Buy rating on the shares. The firm said Arcellx remains on track for top-line Phase 2 iMMagine-1 data for antio-cel by year-end 2024, where we expect significant upside. Canaccord expects completion of enrollment during 2024 and initiation of the earlier line iMMagine-2 study for antio-cel.