Stifel Downgrades Arcellx Inc. (ACLX) to Hold

Stifel analyst Stephen Willey downgraded Arcellx Inc. (NASDAQ: ACLX) from Buy to Hold with a price target of $115.00 (from $127.00).

The analyst comments: "We’re downgrading ACLX shares from Buy to Hold-rated following the proposed acquisition by collaborative partner GILD for $7.8B in implied equity value and a $5/share CVR payment triggered by cumulative global net sales exceeding $6B through FY29 (see our initial thoughts on the transaction here). We continue to believe the likely YE26 approval of anito-cel in 4L+ patients will result in one of the most successful oncology launches – with longer-term label expansion into 2L+ patients (per P3 iMMagine-3 data) serving as the primary lever underlying our $7B peak global sales estimate. Our estimates remain unchanged and we are reducing our target price to $115 (previously $127) to reflect the proposed acquisition price approved by the Boards of both companies."

For an analyst ratings summary and ratings history on Arcellx Inc. click here. For more ratings news on Arcellx Inc. click here.

Shares of Arcellx Inc. closed at $113.75 yesterday.

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