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

Shares of Acelyrin, Inc. (NASDAQ:SLRN) have been given an average rating of “Moderate Buy” by the six brokerages that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $10.83.

Several equities research analysts recently issued reports on the company. Morgan Stanley dropped their price target on Acelyrin from $13.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Wells Fargo & Company raised shares of Acelyrin from an “equal weight” rating to an “overweight” rating and set a $13.00 target price on the stock in a report on Monday, July 8th. Piper Sandler decreased their price target 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, HC Wainwright downgraded Acelyrin from a “buy” rating to a “neutral” rating and decreased their target price for the company from $18.00 to $6.00 in a research note on Wednesday, August 14th.

Acelyrin Price Performance

Shares of SLRN stock opened at $4.70 on Friday. The firm has a fifty day moving average of $5.31 and a two-hundred day moving average of $5.38. The firm has a market cap of $469.11 million, a P/E ratio of -1.97 and a beta of 2.34. Acelyrin has a 1-year low of $3.36 and a 1-year high of $11.83.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SLRN. Ameritas Investment Partners Inc. increased its stake in shares of 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 period. Principal Financial Group Inc. bought a new stake in Acelyrin during the 2nd quarter valued at $49,000. SG Americas Securities LLC acquired a new stake in Acelyrin in the second quarter worth about $51,000. Nisa Investment Advisors LLC increased its stake in Acelyrin by 58,570.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 14,081 shares of the company’s stock valued at $62,000 after buying an additional 14,057 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Acelyrin by 608.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,716 shares of the company’s stock worth $80,000 after buying an additional 9,203 shares in the last quarter. 87.31% of the stock is owned by institutional investors and hedge funds.

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.