Acelyrin (NASDAQ:SLRN) Issues Quarterly Earnings Results

Acelyrin (NASDAQ:SLRN) issued its earnings results on Wednesday. The company reported ($0.79) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.86) by $0.07, Zacks reports.

Acelyrin Trading Down 1.1 %

Shares of NASDAQ:SLRN traded down $0.03 during trading on Wednesday, reaching $2.79. The stock had a trading volume of 850,760 shares, compared to its average volume of 1,234,757. Acelyrin has a one year low of $1.85 and a one year high of $8.59. The company has a market capitalization of $279.91 million, a P/E ratio of -1.13 and a beta of 1.25. The firm’s 50-day simple moving average is $2.25 and its 200 day simple moving average is $3.85.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on SLRN shares. Wells Fargo & Company dropped their target price on shares of Acelyrin from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Wednesday, December 11th. HC Wainwright dropped their target price on shares of Acelyrin from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Finally, Citigroup lowered their price target on shares of Acelyrin from $6.00 to $3.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Acelyrin currently has a consensus rating of “Hold” and a consensus target price of $9.60.

Acelyrin Company Profile

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.