William Blair analyst Myles Minter has reiterated their bullish stance on DNLI stock, giving a Buy rating on June 23.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Myles Minter has given his Buy rating due to a combination of factors surrounding Denali Therapeutics’ promising developments. The company’s biologics license application for tividenofusp alfa (tivi) was accepted by the FDA for the treatment of Hunter syndrome under an accelerated approval pathway, which is a significant milestone. The priority review status and the absence of an advisory committee meeting suggest a smoother regulatory process, enhancing the potential for timely market entry.
Denali’s innovative approach with tivi, which addresses the deficiency in the iduronate 2-sulfatase enzyme through its proprietary transport vehicle platform, has shown promising results. The breakthrough therapy designation was granted based on Phase I/II data demonstrating significant reductions in key biomarkers, indicating potential best-in-class treatment efficacy. These developments underscore Denali’s potential to offer a superior treatment option compared to existing therapies, particularly in central nervous system compartments, supporting the Buy rating.
In another report released on June 23, Oppenheimer also reiterated a Buy rating on the stock with a $35.00 price target.