H.C. Wainwright analyst Patrick Trucchio has reiterated their bullish stance on SLN stock, giving a Buy rating today.
Patrick Trucchio has given his Buy rating due to a combination of factors surrounding the progress of Silence Therapeutics’ lead program, zerlasiran. The positive top-line data from the Phase 2 trial, which showed significant reduction of lipoprotein(a) levels in high-risk cardiovascular patients, is a primary driver of this optimistic outlook. The anticipation of a seamless transition into Phase 3 development, potentially by the end of 2024 or into 2025, supports the belief in the drug’s future success. Furthermore, the possibility of a substantial collaboration with a major biopharmaceutical company could further solidify the program’s advancement and market potential.
Trucchio’s confidence is bolstered by the expectation of a forthcoming 48-week data readout in the second quarter of 2024, which if positive, could lead to a pivotal Phase 3 trial in the latter half of the year. The analyst projects that, if approved, zerlasiran could generate revenues exceeding $1 billion annually. This projection is grounded in the drug’s strong performance in clinical trials and its positioning within the emerging treatment landscape for lowering lipoprotein(a), a key risk factor for atherosclerotic cardiovascular disease.
In another report released today, BMO Capital also assigned a Buy rating to the stock with a $67.00 price target.
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Silence Therapeutics (SLN) Company Description:
Silence Therapeutics PLC is one of the leading companies in the ribonucleic acid (RNA) technology field. The United Kingdom-based firm researches and develops therapeutics to combat highly unmet medical needs. Its patented RNA interference platform, known as AtuRNAi is employed in vaccines to correct genetic deficiencies and infectious diseases by silencing or replacing the expression of virtually any gene in the genome, modulating expression up as well as down in a variety of organs and cell types. Its technology is currently in the clinic, in a Phase 2a pancreatic cancer trial and its income consists of license fees, milestone and option payments, grant income and fees from research and development collaborations.
