Acelyrin (NASDAQ:SLRN) Price Target Raised to $8.00 at HC Wainwright

Acelyrin (NASDAQ:SLRN) had its price objective upped by HC Wainwright from $6.00 to $8.00 in a research note published on Thursday morning,Benzinga reports. HC Wainwright currently has a neutral rating on the stock.

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

Acelyrin Price Performance

Shares of NASDAQ SLRN traded down $0.54 during mid-day trading on Thursday, reaching $4.62. 399,965 shares of the company traded hands, compared to its average volume of 1,025,454. Acelyrin has a fifty-two week low of $3.36 and a fifty-two week high of $9.20. The firm has a market cap of $461.12 million, a PE ratio of -1.90 and a beta of 1.98. The stock has a fifty day simple moving average of $5.40 and a 200-day simple moving average of $5.01.

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

Hedge Funds Weigh In On Acelyrin

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blair William & Co. IL acquired a new stake in shares of Acelyrin during the 1st quarter valued at $936,000. Acadian Asset Management LLC acquired a new stake in shares of Acelyrin during the 2nd quarter valued at $590,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Acelyrin during the 1st quarter valued at $3,961,000. Almitas Capital LLC bought a new stake in Acelyrin in the second quarter worth $1,659,000. Finally, Los Angeles Capital Management LLC bought a new stake in Acelyrin in the second quarter worth $693,000. 87.31% of the stock is currently owned by hedge funds and other 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.