Stifel downgraded Arcellx (ACLX) to Hold from Buy with a price target of $115, down from $127, following the announcement that Gilead (GILD) is acquiring the company for $115 per share. The firm continues to believe that the likely 2026-end approval of anito-cel in 4L+ patients will result in one of the most successful oncology launches, with longer-term label expansion into second-line patients serving as the primary lever underlying its $7B peak global sales estimate, the analyst tells investors in a research note.
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