Silence Therapeutics weakness after AHA updates ‘overdone,’ says BMO Capital

 BMO Capital notes that Silence Therapeutics (SLN) is trading significantly lower following AHA updates due to concerns that favorable data from oral Muvalaplin may potentially be a competitive threat for Silence’s Zerlasiran and/or reduce big pharma’s interest in a partnership as well as worries about Zerlasiran safety. However, the firm believes the stock reaction is “overdone” as it sees no safety or competitive threat concerns. Management reiterated its confidence in Zerlasiran and finding a partner, notes the analyst, who sees “an opportunity to buy the dip” and keeps an Outperform rating and $67 price target on Silence shares

https://www.tipranks.com/news/the-fly/silence-therapeutics-weakness-after-aha-updates-overdone-says-bmo-capital