Chardan Capital Reiterates “Buy” Rating for Silence Therapeutics (NASDAQ:SLN)

Chardan Capital reiterated their buy rating on shares of Silence Therapeutics (NASDAQ:SLN) in a research note issued to investors on Thursday,Benzinga reports. They currently have a $55.00 price objective on the stock.

A number of other research analysts have also recently issued reports on SLN. HC Wainwright reiterated a “buy” rating and set a $75.00 price objective on shares of Silence Therapeutics in a report on Friday, August 30th. Morgan Stanley reiterated an “overweight” rating and set a $49.00 price target on shares of Silence Therapeutics in a research note on Tuesday, October 8th. Finally, Jefferies Financial Group assumed coverage on Silence Therapeutics in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $40.00 price objective for the company. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $57.20.

Silence Therapeutics Stock Performance

Shares of NASDAQ:SLN opened at $12.70 on Thursday. Silence Therapeutics has a 52-week low of $8.94 and a 52-week high of $27.72. The business’s 50 day simple moving average is $17.98 and its two-hundred day simple moving average is $19.12. The firm has a market cap of $380.11 million, a P/E ratio of -8.09 and a beta of 1.30.

Silence Therapeutics (NASDAQ:SLN) last posted its quarterly earnings results on Thursday, August 15th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.10). The business had revenue of $0.76 million during the quarter, compared to analyst estimates of $11.28 million. Silence Therapeutics had a negative net margin of 342.00% and a negative return on equity of 65.18%. On average, equities analysts forecast that Silence Therapeutics will post -1.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Silence Therapeutics

Several hedge funds have recently modified their holdings of the company. Y Intercept Hong Kong Ltd grew its holdings in shares of Silence Therapeutics by 22.9% in the third quarter. Y Intercept Hong Kong Ltd now owns 21,078 shares of the company’s stock valued at $383,000 after acquiring an additional 3,923 shares in the last quarter. Point72 Asset Management L.P. grew its stake in Silence Therapeutics by 219.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 467,800 shares of the company’s stock valued at $8,505,000 after purchasing an additional 321,300 shares during the period. Parkman Healthcare Partners LLC raised its stake in shares of Silence Therapeutics by 71.8% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 497,870 shares of the company’s stock worth $9,051,000 after purchasing an additional 208,029 shares during the period. Ikarian Capital LLC boosted its holdings in shares of Silence Therapeutics by 15.9% in the 3rd quarter. Ikarian Capital LLC now owns 587,343 shares of the company’s stock worth $10,678,000 after buying an additional 80,678 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in Silence Therapeutics by 32.8% during the third quarter. Janus Henderson Group PLC now owns 1,087,228 shares of the company’s stock worth $19,798,000 after buying an additional 268,250 shares during the last quarter. Institutional investors own 98.73% of the company’s stock.

About Silence Therapeutics

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.