Arcellx price target raised to $87 from $57 at Truist

Truist raised the firm’s price target on Arcellx (ACLX) to $87 from $57 and keeps a Buy rating on the shares. Based on the recently presented translational data for Carvykti and its read-through to Anito-cel, the firm is “increasingly confident” that Arcellx’s CAR-T has best-in-class potential among BCMA, or anti-B-cell maturation antigen, CAR-Ts, the analyst tells investors in a research note. Coupled with partner Gilead’s (GILD) “industry-leading” manufacturing capabilities, Truist believes that Anito-cel can take a strong market position.