Acelyrin (NASDAQ:SLRN) Releases Earnings Results, Misses Estimates By $0.08 EPS

Acelyrin (NASDAQ:SLRN) released its quarterly earnings data on Tuesday. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.78) by ($0.08), Yahoo Finance reports. During the same period in the previous year, the firm posted ($0.56) earnings per share.

Acelyrin Stock Down 1.7 %

Shares of NASDAQ:SLRN traded down $0.07 on Thursday, hitting $3.99. The company had a trading volume of 1,655,850 shares, compared to its average volume of 1,131,305. The firm’s 50-day simple moving average is $5.11 and its two-hundred day simple moving average is $5.87. The firm has a market capitalization of $395.13 million, a price-to-earnings ratio of -1.71 and a beta of 2.35. Acelyrin has a 1 year low of $3.36 and a 1 year high of $29.88.

Analysts Set New Price Targets

Several analysts have weighed in on the company. HC Wainwright downgraded Acelyrin from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $18.00 to $6.00 in a research report on Wednesday. Piper Sandler lowered their price target on shares of Acelyrin from $68.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Wells Fargo & Company raised shares of Acelyrin from an “equal weight” rating to an “overweight” rating and set a $13.00 price target on the stock in a report on Monday, July 8th. Three investment 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.com, the company has an average rating of “Moderate Buy” and an average price target of $12.00.

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.