TSX runs higher on rate cut expectations
In a challenging year for biotech firms, Silence Therapeutics (SLN) stock has tumbled to a 52-week low, touching down at $2.35. The company, known for its work in the field of gene silencing, has faced a tough market environment, with its market cap shrinking to $127.5 million. According to InvestingPro data, the stock has seen a steep decline of -87.66% over the past year, though analyst targets range from $4 to $75. Investors have shown concern as the stock plummeted from higher valuations, reflecting broader industry trends and internal hurdles. While the company maintains a strong liquidity position with a current ratio of 11.14 and more cash than debt, InvestingPro analysis suggests the stock is currently undervalued, with 11 additional ProTips available to subscribers. The current price level marks a critical juncture for Silence Therapeutics as it navigates through a period of heightened scrutiny and strategic reassessment, with its next earnings report due on May 15, 2025.
In other recent news, Silence Therapeutics reported a significant increase in revenue for 2024, reaching $43.3 million, up from $31.6 million in 2023. This growth was largely driven by strategic collaborations with AstraZeneca (NASDAQ:AZN) and Hanseo Pharma. The company also revealed a strategic decision to delay the phase 3 trial of their drug candidate zerlasiran until a partnership is secured, extending their cash reserves to support operations into 2027. Analysts from H.C. Wainwright maintained a Buy rating with a $75 price target, citing potential catalysts such as partnership announcements for zerlasiran. Meanwhile, Morgan Stanley (NYSE:MS) adjusted its price target to $45, reflecting updates to the company's financial model and a reduced probability of success for zerlasiran. Jefferies also slightly lowered its price target to $30, maintaining a Buy rating. Silence Therapeutics is advancing its pipeline with plans to initiate a phase 1 trial for SLN548 in the second half of 2025, further expanding its portfolio of RNAi therapies.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.