Wells Fargo & Company Raises Acelyrin (NASDAQ:SLRN) Price Target to $15.00

Acelyrin (NASDAQ:SLRN) had its price objective upped by equities researchers at Wells Fargo & Company from $13.00 to $15.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 150.42% from the company’s previous close.

Several other research firms have also recently commented on SLRN. Piper Sandler reduced their target price 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. Morgan Stanley reduced their price target 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. Finally, HC Wainwright lowered shares of Acelyrin from a “buy” rating to a “neutral” rating and cut their price objective for the company from $18.00 to $6.00 in a research report on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $11.17.

Acelyrin Stock Up 4.7 %

Acelyrin stock traded up $0.27 during trading on Wednesday, reaching $5.99. The stock had a trading volume of 314,715 shares, compared to its average volume of 1,075,159. Acelyrin has a 52-week low of $3.36 and a 52-week high of $10.70. The business has a 50 day moving average price of $4.82 and a 200 day moving average price of $4.92. The stock has a market cap of $597.86 million, a PE ratio of -2.08 and a beta of 2.33.

Acelyrin (NASDAQ:SLRN) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.78) by ($0.08). During the same quarter in the previous year, the firm earned ($0.56) earnings per share. On average, equities analysts predict that Acelyrin will post -3.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Acelyrin

A number of large investors have recently modified their holdings of SLRN. Millennium Management LLC boosted its stake in shares of Acelyrin by 15.7% in the second quarter. Millennium Management LLC now owns 4,642,056 shares of the company’s stock valued at $20,471,000 after purchasing an additional 628,528 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in Acelyrin in the first quarter valued at about $3,961,000. Almitas Capital LLC acquired a new stake in Acelyrin in the second quarter valued at $1,659,000. Renaissance Technologies LLC grew its holdings in Acelyrin by 218.0% during the 2nd quarter. Renaissance Technologies LLC now owns 397,618 shares of the company’s stock worth $1,753,000 after acquiring an additional 272,600 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Acelyrin in the 2nd quarter worth about $706,000. Institutional investors and hedge funds own 87.31% of the company’s stock.

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.