Emily Bodnar, an analyst from H.C. Wainwright, maintained the Buy rating on ACELYRIN, INC. (SLRN – Research Report). The associated price target was lowered to $16.00.
Emily Bodnar’s rating is based on a comprehensive analysis of ACELYRIN, INC.’s financial health and future prospects. The Buy rating primarily stems from the company’s recent reduction in operating expenses and the strong cash position that is anticipated to support operations into 2026. In the first quarter of 2024, ACELYRIN reported a significant decrease in operating costs compared to the previous quarter, alongside an earnings per share (EPS) that reflected these efficiencies. The successful completion of patient enrollment for key clinical studies also suggests a streamlined R&D process moving forward.
Moreover, Bodnar’s valuation includes a discounted cash flow (DCF) analysis extending to 2037, with a discount rate of 12% and a conservative terminal value assumption. The analysis assigns positive probabilities of success (POS) to the company’s pipeline assets, indicating a robust faith in their potential market impact. Despite the presence of risks such as clinical efficacy, competitive pressures, regulatory hurdles, and future financing needs, the company’s strong cash position and promising pipeline have led to the affirmation of the Buy rating and a $16 price target.
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ACELYRIN, INC. (SLRN) Company Description:
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. It is also developing lonigutamab, a humanized immunoglobulin G1 (IgG1) monoclonal antibody against insulin-like growth factor 1 receptor, which is in Phase 1 clinical trials for use in the treatment of thyroid eye disease; and SLRN-517, a fully human IgG1 monoclonal antibody targeting c-KIT, which is in preclinical stage for use in the treatment of chronic urticaria. The company was incorporated in 2020 and is headquartered in Agoura Hills, California.
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