BMO Maintains Outperform on Silence Therapeutics, Citing Clinical Advances By Investing.com

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Silence Therapeutics (NASDAQ:SLN) on Tuesday maintained an Outperform rating and $67.00 price target on the stock from BMO Capital. The company’s continued confidence in the stock is rooted in the potential of the lead programs of its wholly-owned siRNA, Silence Therapeutics. This program is considered one of the most advanced and competitive clinical agents in the Lp(a) therapeutic development market. It’s worth over $20 billion.

BMO Capital’s approval comes as the company selected Silence Therapeutics as one of its favorite names for the first half of 2024. This pick suggests Alnylam Pharmaceuticals (NASDAQ: NASDAQ: ALNY ) has potential growth in the coming months.

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

The positive outlook is further bolstered by expectations of 2024 data readouts and potential partnerships, which could significantly boost the company’s valuation. BMO Capital’s high confidence in Silence Therapeutics is based on these future milestones, which it considers important drivers of the stock’s performance.

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

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