Morgan Stanley Increases Silence Therapeutics (NASDAQ:SLN) Price Target to $49.00

Silence Therapeutics (NASDAQ:SLN) had its price target increased by equities research analysts at Morgan Stanley from $45.00 to $49.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 157.89% from the stock’s previous close.

SLN has been the topic of several other research reports. HC Wainwright reissued a “buy” rating and set a $75.00 price target on shares of Silence Therapeutics in a research report on Thursday. Chardan Capital upped their target price on shares of Silence Therapeutics from $42.00 to $55.00 and gave the company a “buy” rating in a research report on Friday.

Silence Therapeutics Stock Performance

Shares of NASDAQ SLN opened at $19.00 on Friday. Silence Therapeutics has a one year low of $4.84 and a one year high of $27.72. The firm has a market cap of $568.67 million, a PE ratio of -16.38 and a beta of 1.34. The firm has a fifty day moving average of $21.15 and a 200 day moving average of $20.99.

Silence Therapeutics (NASDAQ:SLN) last released its earnings results on Thursday, May 16th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.18. Silence Therapeutics had a negative net margin of 131.44% and a negative return on equity of 79.90%. The business had revenue of $15.73 million during the quarter, compared to analyst estimates of $4.53 million. On average, equities analysts predict that Silence Therapeutics will post -1.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Silence Therapeutics

Several hedge funds have recently added to or reduced their stakes in SLN. SG Americas Securities LLC purchased a new position in Silence Therapeutics in the fourth quarter valued at approximately $110,000. Vivo Capital LLC purchased a new position in shares of Silence Therapeutics during the fourth quarter worth approximately $8,862,000. Parkman Healthcare Partners LLC grew its position in shares of Silence Therapeutics by 20.8% during the fourth quarter. Parkman Healthcare Partners LLC now owns 232,942 shares of the company’s stock worth $4,046,000 after acquiring an additional 40,063 shares during the last quarter. Redmile Group LLC purchased a new position in shares of Silence Therapeutics during the first quarter worth approximately $43,798,000. Finally, Janus Henderson Group PLC purchased a new position in shares of Silence Therapeutics during the first quarter worth approximately $13,575,000. 98.73% of the stock is currently owned by hedge funds and other institutional investors.

Silence Therapeutics Company Profile

Silence Therapeutics plc, a biotechnology company, focuses on the discovery and development novel molecules incorporating short interfering ribonucleic acid (siRNA) to inhibit the expression of specific target genes in hematology, cardiovascular, and rare diseases. The company's mRNAi GalNAc Oligonucleotide Discovery platform consists of precision engineered product candidates designed to target specific disease-associated genes in the liver.