Silence Therapeutics (NASDAQ:SLN) Earns Buy Rating from Chardan Capital

Silence Therapeutics (NASDAQ:SLN)‘s stock had its “buy” rating reissued by investment analysts at Chardan Capital in a research note issued to investors on Thursday,Benzinga reports. They presently have a $55.00 price target on the stock. Chardan Capital’s price objective would indicate a potential upside of 333.07% from the company’s current price.

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

Silence Therapeutics Stock Performance

Shares of NASDAQ SLN opened at $12.70 on Thursday. Silence Therapeutics has a 1 year low of $8.94 and a 1 year high of $27.72. The stock’s 50-day simple moving average is $17.98 and its 200-day simple moving average is $19.16. The firm has a market cap of $380.09 million, a price-to-earnings ratio of -8.09 and a beta of 1.30.

Silence Therapeutics (NASDAQ:SLN) last posted its quarterly earnings data on Thursday, August 15th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.10). The company had revenue of $0.76 million during the quarter, compared to analyst estimates of $11.28 million. Silence Therapeutics had a negative return on equity of 58.28% and a negative net margin of 222.44%. As a group, research analysts predict that Silence Therapeutics will post -1.55 EPS for the current year.

Hedge Funds Weigh In On Silence Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Values First Advisors Inc. bought a new position in Silence Therapeutics in the third quarter valued at about $56,000. Quarry LP bought a new stake in shares of Silence Therapeutics during the 2nd quarter valued at about $114,000. SG Americas Securities LLC increased its stake in shares of Silence Therapeutics by 10.5% in the 1st quarter. SG Americas Securities LLC now owns 7,000 shares of the company’s stock valued at $151,000 after acquiring an additional 667 shares in the last quarter. Verition Fund Management LLC acquired a new position in shares of Silence Therapeutics during the third quarter valued at about $207,000. Finally, Custom Index Systems LLC acquired a new position in Silence Therapeutics during the 2nd quarter worth approximately $282,000. 98.73% of the stock is owned by institutional investors and hedge funds.

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.