Silence Therapeutics (SLN) Stock Forecast & Price Target

Silence Therapeutics is viewed positively because divesiran has strong biologic and clinical support in polycythemia vera, where TMPRSS6 inhibition can increase hepcidin, improve hematocrit control, and reduce phlebotomy burden, with Phase 1 data showing a 100% response rate in well-controlled PV patients and a median time to first phlebotomy of 287 days. The investment case is further strengthened by a favorable convenience edge versus rusfertide’s weekly dosing, since Silence is testing every-6-week and every-12-week regimens that KOL checks suggest could drive adoption even with only comparable efficacy and safety. Fundamentally, the shares appear mispriced versus a $300M market cap and management’s data package, which could support about $770M of US unadjusted peak PV revenue and a meaningful re-rating if the upcoming Phase 2 readout confirms durability and response.

Silence Therapeutics is viewed negatively because its lead PV program, divesiran, faces a crowded and mechanistically challenging field where competitors may show better efficacy, while response can be limited in patients with impaired endogenous hepcidin production. The company also remains early-to-mid stage and will likely need to raise capital for the foreseeable future, with modeled annual capital raises of $200M-$350M from 2026E to 2031E that could dilute shareholders. Even though rusfertide data reinforce the PV opportunity, Silence still carries high clinical, commercialization, and reimbursement risk across its pipeline, making the path to durable value creation uncertain.