Acelyrin (NASDAQ:SLRN) Stock Price Expected to Rise, HC Wainwright Analyst Says

Acelyrin (NASDAQ:SLRN) had its price objective raised by HC Wainwright from $6.00 to $8.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. HC Wainwright’s target price points to a potential upside of 70.58% from the company’s current price.

Several other analysts have also recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Acelyrin from $13.00 to $15.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Morgan Stanley cut their price target on Acelyrin from $13.00 to $6.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Finally, Piper Sandler lowered their price objective on Acelyrin from $68.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $11.50.

Acelyrin Price Performance

Shares of Acelyrin stock opened at $4.69 on Thursday. The business has a 50 day simple moving average of $5.40 and a two-hundred day simple moving average of $5.01. The stock has a market capitalization of $468.11 million, a P/E ratio of -1.91 and a beta of 1.98. Acelyrin has a 12 month low of $3.36 and a 12 month high of $9.20.

Acelyrin (NASDAQ:SLRN) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.08). During the same quarter in the prior year, the firm posted ($0.56) earnings per share. As a group, research analysts anticipate that Acelyrin will post -3.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. raised its position in 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. HighTower Advisors LLC acquired a new position in Acelyrin in the third quarter valued at about $50,000. Principal Financial Group Inc. purchased a new position in Acelyrin during the second quarter worth about $49,000. SG Americas Securities LLC acquired a new stake in shares of Acelyrin during the second quarter valued at about $51,000. Finally, Nisa Investment Advisors LLC raised its stake in shares of Acelyrin by 58,570.8% in the 2nd 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. 87.31% of the stock is currently 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.