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

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

SLRN has been the subject of several other research reports. Piper Sandler decreased their price objective on Acelyrin from $68.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, August 14th. Morgan Stanley decreased their price target 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. Finally, Wells Fargo & Company increased their price objective on shares of Acelyrin from $13.00 to $15.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Acelyrin has a consensus rating of “Moderate Buy” and a consensus price target of $11.50.

Acelyrin Stock Down 9.1 %

NASDAQ:SLRN opened at $4.69 on Thursday. Acelyrin has a 52 week low of $3.36 and a 52 week high of $9.20. The company has a fifty day simple moving average of $5.40 and a two-hundred day simple moving average of $5.01. The company has a market cap of $468.11 million, a price-to-earnings ratio of -1.91 and a beta of 1.98.

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

Hedge Funds Weigh In On Acelyrin

Hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC boosted its holdings in shares of Acelyrin by 15.7% in the 2nd quarter. Millennium Management LLC now owns 4,642,056 shares of the company’s stock valued at $20,471,000 after buying an additional 628,528 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Acelyrin in the first quarter valued at $3,961,000. Geode Capital Management LLC grew its holdings in shares of Acelyrin by 30.8% during the third quarter. Geode Capital Management LLC now owns 1,651,614 shares of the company’s stock worth $8,144,000 after purchasing an additional 388,631 shares during the last quarter. Almitas Capital LLC acquired a new stake in shares of Acelyrin during the second quarter worth about $1,659,000. Finally, Acuta Capital Partners LLC purchased a new stake in shares of Acelyrin in the 3rd quarter valued at about $1,795,000. 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.