Brokers Set Expectations for Acelyrin, Inc.’s Q3 2024 Earnings (NASDAQ:SLRN)

Acelyrin, Inc. (NASDAQ:SLRN) – Equities researchers at HC Wainwright lowered their Q3 2024 earnings per share (EPS) estimates for shares of Acelyrin in a report issued on Wednesday, August 14th. HC Wainwright analyst E. Bodnar now expects that the company will post earnings per share of ($1.08) for the quarter, down from their previous forecast of ($0.30). HC Wainwright has a “Neutral” rating and a $6.00 price objective on the stock. The consensus estimate for Acelyrin’s current full-year earnings is ($2.95) per share. HC Wainwright also issued estimates for Acelyrin’s Q4 2024 earnings at ($1.05) EPS, FY2024 earnings at ($3.35) EPS, FY2025 earnings at ($2.63) EPS, FY2026 earnings at ($3.23) EPS, FY2027 earnings at ($2.22) EPS and FY2028 earnings at ($1.49) EPS.

Acelyrin (NASDAQ:SLRN) last issued its quarterly earnings results 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 period in the prior year, the company posted ($0.56) earnings per share.

A number of other brokerages have also issued reports on SLRN. Piper Sandler dropped their price objective on shares of Acelyrin from $68.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday. Wells Fargo & Company upgraded shares of Acelyrin from an “equal weight” rating to an “overweight” rating and set a $13.00 price objective on the stock in a report on Monday, July 8th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Acelyrin currently has a consensus rating of “Moderate Buy” and an average price target of $12.00.

Acelyrin Trading Up 3.8 %

Shares of NASDAQ SLRN opened at $4.13 on Friday. The company has a market cap of $412.22 million, a price-to-earnings ratio of -1.74 and a beta of 2.35. The stock has a 50-day moving average price of $5.10 and a two-hundred day moving average price of $5.82. Acelyrin has a 12 month low of $3.36 and a 12 month high of $29.88.

Institutional Trading of Acelyrin

Institutional investors have recently modified their holdings of the business. Blair William & Co. IL purchased a new stake in shares of Acelyrin during the 1st quarter valued at $936,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Acelyrin during the first quarter worth about $3,961,000. Vontobel Holding Ltd. purchased a new stake in Acelyrin in the 4th quarter worth approximately $2,429,000. Superstring Capital Management LP bought a new position in shares of Acelyrin during the fourth quarter valued at approximately $2,663,000. Finally, Vanguard Group Inc. increased its position in Acelyrin by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 6,237,543 shares of the company’s stock valued at $42,103,000 after purchasing an additional 81,633 shares during the period. 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.