Brokerages Set Silence Therapeutics plc (NASDAQ:SLN) Price Target at $57.20

Silence Therapeutics plc (NASDAQ:SLN) has earned an average rating of “Buy” from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have covered the stock in the last year is $57.20.

Several research analysts have issued reports on SLN shares. 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. HC Wainwright reiterated a “buy” rating and issued a $75.00 price target on shares of Silence Therapeutics in a report on Monday, December 9th. Jefferies Financial Group started coverage on Silence Therapeutics in a report on Tuesday, September 3rd. They set a “buy” rating and a $40.00 price objective for the company. BMO Capital Markets restated an “outperform” rating on shares of Silence Therapeutics in a research report on Monday, December 2nd. Finally, William Blair reiterated an “outperform” rating on shares of Silence Therapeutics in a research report on Tuesday, November 19th.

Silence Therapeutics Trading Up 8.5 %

Shares of NASDAQ SLN opened at $6.88 on Friday. Silence Therapeutics has a 1-year low of $5.81 and a 1-year high of $27.72. The company has a 50-day moving average of $12.42 and a two-hundred day moving average of $16.62. The company has a market cap of $205.90 million, a PE ratio of -4.38 and a beta of 1.05.

Hedge Funds Weigh In On Silence Therapeutics

Several institutional investors have recently modified their holdings of SLN. Legato Capital Management LLC bought a new position in shares of Silence Therapeutics during the second quarter worth $376,000. Custom Index Systems LLC acquired a new stake in Silence Therapeutics during the 2nd quarter worth $282,000. Nicholas Investment Partners LP bought a new position in Silence Therapeutics during the second quarter worth about $2,859,000. First Turn Management LLC acquired a new position in Silence Therapeutics in the second quarter valued at about $10,209,000. Finally, Lombard Odier Asset Management USA Corp increased its holdings in shares of Silence Therapeutics by 0.7% in the second quarter. Lombard Odier Asset Management USA Corp now owns 2,405,998 shares of the company’s stock worth $45,714,000 after acquiring an additional 17,086 shares in the last quarter. 98.73% of the stock is currently owned by institutional investors and hedge funds.

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.