Silence Therapeutics price target lowered to $30 from $31 at Jefferies

Jefferies analyst Kelly Shi lowered the firm’s price target on Silence Therapeutics (SLN) to $30 from $31 and keeps a Buy rating on the shares following Q4 earnings. The analyst noted that the decision not to initiate its zerlasiran Phase 3 trial without a partner extends cash runway into 2027. Jefferies believes the confusion around measurement endpoint at Silence’s American Heart Association 24 update of zerlasiran led to the stock sell-off. The lack of a clear registrational trial design and the delay of a competitor catalyst also contributed to stock weakness, the firm told investors.