Acelyrin, Inc. (NASDAQ:SLRN) Receives $10.83 Consensus Target Price from Analysts

Acelyrin, Inc. (NASDAQ:SLRN) has been given an average recommendation of “Moderate Buy” by the six ratings firms that are covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $10.83.

Several research firms have weighed in on SLRN. HC Wainwright lowered Acelyrin from a “buy” rating to a “neutral” rating and cut their target price for the company from $18.00 to $6.00 in a research note on Wednesday, August 14th. Wells Fargo & Company upgraded shares of Acelyrin from an “equal weight” rating to an “overweight” rating and set a $13.00 price target on the stock in a research report on Monday, July 8th. Piper Sandler decreased their price objective on shares of Acelyrin from $68.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, August 14th. Finally, Morgan Stanley cut their target price on shares of Acelyrin from $13.00 to $6.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th.

Acelyrin Price Performance

Shares of NASDAQ SLRN opened at $4.98 on Thursday. Acelyrin has a fifty-two week low of $3.36 and a fifty-two week high of $10.70. The firm has a market capitalization of $497.05 million, a P/E ratio of -2.09 and a beta of 2.33. The company’s 50 day simple moving average is $4.90 and its 200 day simple moving average is $5.03.

Acelyrin (NASDAQ:SLRN) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.08). During the same quarter in the prior year, the business earned ($0.56) earnings per share. Sell-side analysts expect that Acelyrin will post -3.08 EPS for the current fiscal year.

Institutional Trading of Acelyrin

A number of large investors have recently bought and sold shares of SLRN. Ameritas Investment Partners Inc. lifted its stake in Acelyrin by 118.0% in the first quarter. Ameritas Investment Partners Inc. now owns 7,243 shares of the company’s stock valued at $49,000 after buying an additional 3,921 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Acelyrin during the second quarter worth $49,000. SG Americas Securities LLC bought a new stake in Acelyrin in the 2nd quarter valued at $51,000. Nisa Investment Advisors LLC boosted its stake in Acelyrin by 58,570.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 14,081 shares of the company’s stock worth $62,000 after purchasing an additional 14,057 shares during the period. Finally, China Universal Asset Management Co. Ltd. boosted its stake in Acelyrin by 66.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 18,718 shares of the company’s stock worth $126,000 after purchasing an additional 7,459 shares during the period. 87.31% of the stock is owned by institutional investors.

Acelyrin Company Profile

Acelyrin, Inc, a clinical biopharma company, focuses on identifying, acquiring, and accelerating the development and commercialization of transformative medicines. The company's lead product candidate is izokibep, a small protein therapeutic designed to inhibit IL-17A with high potency, which is in Phase 3 clinical trials for use in the treatment of Hidradenitis Suppurativa, Psoriatic Arthritis, and uveitis, as well as in Phase 2 clinical trials for use in the treatment of Axial Spondyloarthritis.