Acelyrin (NASDAQ:SLRN) Posts Earnings Results, Beats Expectations By $0.07 EPS

Acelyrin (NASDAQ:SLRN) posted its quarterly earnings data on Wednesday. The company reported ($0.79) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.07, Zacks reports.

Acelyrin Stock Performance

SLRN stock traded down $0.03 during mid-day trading on Wednesday, reaching $2.79. 850,760 shares of the stock traded hands, compared to its average volume of 1,234,757. Acelyrin has a one year low of $1.85 and a one year high of $8.59. The stock has a market capitalization of $279.91 million, a PE ratio of -1.13 and a beta of 1.25. The business has a 50-day moving average price of $2.25 and a two-hundred day moving average price of $3.85.

Analysts Set New Price Targets

SLRN has been the topic of several analyst reports. Citigroup lowered their price target on shares of Acelyrin from $6.00 to $3.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Wells Fargo & Company reduced their price objective on shares of Acelyrin from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 11th. Finally, HC Wainwright reduced their price objective on shares of Acelyrin from $8.00 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Acelyrin presently has a consensus rating of “Hold” and an average price target of $9.60.

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.