Arcellx price target raised to $106 from $81 at Morgan Stanley

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https://www.tipranks.com/news/the-fly/hcw-biologics-prices-6-9m-registered-direct-offering-at-1-03-per-share

Morgan Stanley raised the firm’s price target on Arcellx (ACLX) to $106 from $81 and keeps an Overweight rating on the shares. The firm is increasing its view of the odds of success for anito-cel following the initial data set from Arcellx’s iMMagine-1 Phase 2 trial in relapsed/refractory multiple myeloma patients, or rrMM. The firm sees “ample market share opportunity” for anito-cel, initially in later-line patients and eventually in earlier-line patients, should the current clinical profile largely hold, the analyst added.

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