Acelyrin (NASDAQ:SLRN) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Acelyrin (NASDAQ:SLRN) announced its earnings results on Wednesday. The company reported ($0.79) earnings per share for the quarter, beating 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 mid-day trading on Wednesday, reaching $2.79. The company had a trading volume of 850,760 shares, compared to its average volume of 1,234,757. The business’s 50-day moving average is $2.25 and its 200-day moving average is $3.85. The stock has a market cap of $279.91 million, a price-to-earnings ratio of -1.13 and a beta of 1.25. Acelyrin has a 52 week low of $1.85 and a 52 week high of $8.59.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SLRN. Citigroup reduced their target price on shares of Acelyrin from $6.00 to $3.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Wells Fargo & Company reduced their target price on shares of Acelyrin from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 11th. Finally, HC Wainwright reduced their target price on shares of Acelyrin from $8.00 to $6.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $9.60.

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.