Silence Therapeutics initiated with a Buy at Jefferies

Jefferies initiated coverage of Silence Therapeutics with a Buy rating and $40 price target. Silence’s lead siRNA candidate lowers Lp(a), a causal risk factor for CV disease, by greater than 90%, notes the analyst, who says key opinion leaders suggests that the efficacy and least frequent injections compared to similar programs provide the best profile potential for a greater than $20B market. In addition, the second candidate for Polycythemia Vera, or PV, recently shared “compelling” Phase 1 data and updates from both programs in 2024 are near-term catalysts, the analyst tells investors.