Acelyrin, Inc. (NASDAQ:SLRN) Receives $12.00 Consensus Target Price from Analysts

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

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SLRN. Ameritas Investment Partners Inc. boosted its holdings 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 purchasing an additional 3,921 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Acelyrin by 16.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,769 shares of the company’s stock valued at $131,000 after buying an additional 4,163 shares during the period. New York State Common Retirement Fund boosted its stake in shares of Acelyrin by 84.4% in the fourth quarter. New York State Common Retirement Fund now owns 13,181 shares of the company’s stock worth $98,000 after buying an additional 6,032 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Acelyrin by 66.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 18,718 shares of the company’s stock worth $126,000 after acquiring an additional 7,459 shares during the period. Finally, ProShare Advisors LLC raised its position in Acelyrin by 69.9% during the first quarter. ProShare Advisors LLC now owns 19,871 shares of the company’s stock valued at $134,000 after acquiring an additional 8,176 shares in the last quarter. Hedge funds and other institutional investors own 87.31% of the company’s stock.

Acelyrin Price Performance

Acelyrin stock opened at $4.76 on Wednesday. Acelyrin has a 1-year low of $3.36 and a 1-year high of $29.88. The business has a fifty day moving average price of $5.09 and a 200-day moving average price of $5.75. The stock has a market capitalization of $471.37 million, a price-to-earnings ratio of -2.00 and a beta of 2.35.

Acelyrin (NASDAQ:SLRN) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.78) by ($0.08). During the same period last year, the business earned ($0.56) earnings per share. On average, equities research analysts anticipate that Acelyrin will post -2.95 earnings per share for the current fiscal year.

About Acelyrin

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.