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

Silence Therapeutics (NASDAQ:SLN)‘s stock had its “buy” rating reaffirmed by research analysts at Chardan Capital in a report released on Thursday,Benzinga reports. They presently have a $55.00 price target on the stock. Chardan Capital’s target price points to a potential upside of 293.42% from the stock’s current price.

Other research analysts have also recently issued reports about the company. HC Wainwright reissued a “buy” rating and set a $75.00 price objective on shares of Silence Therapeutics in a report on Friday, August 30th. Morgan Stanley reaffirmed an “overweight” rating and set a $49.00 price objective on shares of Silence Therapeutics in a report 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 on the stock. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $57.20.

Silence Therapeutics Stock Down 8.3 %

Shares of SLN traded down $1.26 during mid-day trading on Thursday, hitting $13.98. The stock had a trading volume of 157,700 shares, compared to its average volume of 198,054. Silence Therapeutics has a fifty-two week low of $8.94 and a fifty-two week high of $27.72. The company’s fifty day simple moving average is $18.19 and its two-hundred day simple moving average is $19.26. The company has a market cap of $418.42 million, a PE ratio of -11.46 and a beta of 1.30.

Silence Therapeutics (NASDAQ:SLN) last released 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 company had revenue of $0.76 million for the quarter, compared to the consensus estimate of $11.28 million. Silence Therapeutics had a negative return on equity of 58.28% and a negative net margin of 222.44%. Equities analysts expect that Silence Therapeutics will post -1.55 earnings per share for the current year.

Hedge Funds Weigh In On Silence Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Lombard Odier Asset Management USA Corp boosted its holdings in Silence Therapeutics by 0.7% in the 2nd quarter. Lombard Odier Asset Management USA Corp now owns 2,405,998 shares of the company’s stock valued at $45,714,000 after purchasing an additional 17,086 shares during the period. Redmile Group LLC bought a new stake in shares of Silence Therapeutics in the first quarter valued at approximately $43,798,000. Millennium Management LLC grew its position in Silence Therapeutics by 91.2% during the second quarter. Millennium Management LLC now owns 782,941 shares of the company’s stock worth $14,876,000 after buying an additional 373,523 shares in the last quarter. Eventide Asset Management LLC acquired a new position in Silence Therapeutics in the 3rd quarter valued at $11,635,000. Finally, Janus Henderson Group PLC bought a new stake in shares of Silence Therapeutics during the 1st quarter valued at $13,575,000. Institutional investors and hedge funds own 98.73% of the company’s stock.

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.