Chardan Capital analyst Keay Nakae reiterated a Buy rating on Silence Therapeutics (SLN – Research Report) today and set a price target of $26.00.
Keay Nakae has given his Buy rating for Silence Therapeutics due to a multitude of factors. These include the impressive topline results of the APOLLO phase I study that assessed zerlasiran, Silence’s leading siRNA asset, in patients with high Lp(a) levels and stable ASCVD. In this trial, patients received two different doses of zerlasiran, and a significant reduction in Lp(a) levels of up to 99% was noted 90 days after the repeated injection. Moreover, Lp(a) levels remained about 90% lower than the baseline at 201 days, marking the end of the treatment period, at the two highest doses.
Additionally, a dose-dependent drop was seen in two other parameters, LDL cholesterol and ApoB. With regards to safety, Silence reported that zerlasiran was well tolerated with no significant safety concerns. The encouraging data for zerlasiran in this indication thus far, coupled with the promising results from the single-ascending dose segment of the study, which demonstrated tolerability and dose-dependent efficacy of zerlasiran, reinforced his Buy rating. Furthermore, even though not a direct comparison with the APOLLO study, Amgen has released positive end-of-treatment data from its phase II OCEAN(a)-DOSE study of olpasiran in adults with elevated Lp(a) and a history of ASCVD, which has led to a greater than 95% reduction in Lp(a) levels in cohorts receiving 75 mg or higher every 12 weeks.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $80.00 price target.
See Insiders’ Hot Stocks on TipRanks >>
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
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.
