BMO maintains Outperform on Silence Therapeutics citing clinical advancements By

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Tuesday, Silence Therapeutics (NASDAQ:SLN) maintained its Outperform rating and $67.00 price target from BMO Capital. The firm’s continued confidence in the stock is rooted in the potential of Silence Therapeutics’ lead program, a fully owned siRNA, which is considered one of the most advanced and competitive clinical agents in the developing market for Lp(a) treatments, estimated to be worth over $20 billion.

The endorsement from BMO Capital comes as the firm selects Silence Therapeutics as one of its favorite names for the first half of 2024. This selection follows the successful Phase II readout of 4D-150, which has also positioned the company alongside Alnylam Pharmaceuticals (NASDAQ:ALNY) for potential growth in the upcoming months.

The lead siRNA program by Silence Therapeutics has garnered attention due to its high probability of success (PoS) in the Lp(a) space. The company’s clinical developments and potential data readouts in 2024 are anticipated to drive significant upside, as suggested by BMO Capital’s analysis.

The positive outlook is further bolstered by expectations of data readouts and potential partnerships in 2024, which could significantly enhance the company’s value. BMO Capital’s high conviction in Silence Therapeutics is based on these forthcoming milestones that are seen as critical drivers for the stock’s performance.

In summary, BMO Capital’s reiteration of the Outperform rating and price target for Silence Therapeutics reflects a strong belief in the company’s clinical advancements and market potential. The firm anticipates that the upcoming period will be pivotal for the company, with significant events expected to contribute to stock valuation.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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