Arcellx Analysts Boost Their Forecasts After Q4 Results

Arcellx, Inc. (NASDAQ:ACLX) posted financial results for its fourth quarter on Wednesday.

The company posted net income of $20.5 million for the quarter ended Dec. 31, 2023, compared to a year-ago net loss of $39.0 million. Its collaboration revenue was $63.1 million for the recent quarter, compared to zero for the quarter ended Dec. 31, 2022.

Research and development expenses rose to $28.8 million from $25.9 million.

Arcellx shares fell 0.4% to close at $67.32 on Wednesday.

These analysts made changes to their price targets on Arcellx after the company reported quarterly results.

  • Baird raised the price target on Arcellx from $63 to $77. Baird analyst Jack Allen maintained an Outperform rating.
  • Needham increased the price target on Arcellx from $71 to $72. Needham analyst Gil Blum maintained a Buy rating.

 

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