Acelyrin (NASDAQ:SLRN) Given New $8.00 Price Target at HC Wainwright

Acelyrin (NASDAQ:SLRN) had its price objective raised by equities researchers at HC Wainwright from $6.00 to $8.00 in a report released on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. HC Wainwright’s target price suggests a potential upside of 54.44% from the company’s previous close.

SLRN has been the subject of a number of other reports. Morgan Stanley reduced 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, August 19th. Wells Fargo & Company lifted their price target on Acelyrin from $13.00 to $15.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, 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. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.50.

Acelyrin Trading Down 13.4 %

NASDAQ SLRN traded down $0.80 during mid-day trading on Thursday, reaching $5.18. 753,326 shares of the company’s stock traded hands, compared to its average volume of 1,026,245. Acelyrin has a 1-year low of $3.36 and a 1-year high of $9.25. The company has a market cap of $517.01 million, a price-to-earnings ratio of -1.84 and a beta of 1.98. The company has a fifty day simple moving average of $5.39 and a 200-day simple moving average of $5.01.

Acelyrin (NASDAQ:SLRN) last issued its earnings results on Tuesday, August 13th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.08). During the same period in the previous year, the company earned ($0.56) EPS. Equities research analysts forecast that Acelyrin will post -3.08 earnings per share for the current fiscal year.

Institutional Trading of Acelyrin

Several large investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. raised its position in Acelyrin by 118.0% in the 1st 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. Principal Financial Group Inc. bought a new position in Acelyrin in the 2nd quarter worth approximately $49,000. SG Americas Securities LLC bought a new stake in shares of Acelyrin during the second quarter worth $51,000. Nisa Investment Advisors LLC lifted its stake in shares of Acelyrin by 58,570.8% during the second quarter. Nisa Investment Advisors LLC now owns 14,081 shares of the company’s stock valued at $62,000 after acquiring an additional 14,057 shares during the period. Finally, Intech Investment Management LLC bought a new position in Acelyrin in the third quarter valued at about $77,000. 87.31% of the stock is owned by institutional investors.

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.