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

Acelyrin, Inc. (NASDAQ:SLRN) has earned an average recommendation of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $10.83.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SLRN. SG Americas Securities LLC raised its holdings in Acelyrin by 129.6% during the 3rd quarter. SG Americas Securities LLC now owns 26,755 shares of the company’s stock worth $132,000 after buying an additional 15,101 shares during the period. Cubist Systematic Strategies LLC increased its position in shares of Acelyrin by 158.1% in the second quarter. Cubist Systematic Strategies LLC now owns 90,022 shares of the company’s stock worth $397,000 after acquiring an additional 55,141 shares in the last quarter. Almitas Capital LLC acquired a new stake in shares of Acelyrin during the second quarter valued at approximately $1,659,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Acelyrin in the 2nd quarter valued at approximately $706,000. Finally, Blue Owl Capital Holdings LP boosted its stake in Acelyrin by 3.5% in the 2nd quarter. Blue Owl Capital Holdings LP now owns 2,926,028 shares of the company’s stock worth $12,904,000 after purchasing an additional 100,000 shares during the period. Institutional investors own 87.31% of the company’s stock.

Acelyrin Price Performance

NASDAQ:SLRN opened at $4.58 on Thursday. Acelyrin has a 12-month low of $3.36 and a 12-month high of $10.70. The business has a 50 day simple moving average of $4.90 and a 200 day simple moving average of $5.01. The firm has a market capitalization of $457.13 million, a P/E ratio of -1.92 and a beta of 2.33.

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