In a report released yesterday, Thomas Shrader from BTIG maintained a Buy rating on Denali Therapeutics, with a price target of $32.00.
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Thomas Shrader has given his Buy rating due to a combination of factors surrounding Denali Therapeutics’ promising developments. The company has made significant strides with its enzyme replacement therapy, DNL-310, which has been accepted for priority review by the FDA for treating Hunter Syndrome. This therapy is notable for its ability to cross the blood-brain barrier, potentially offering substantial benefits over existing treatments. The FDA’s acceptance signals strong regulatory support, which could expedite the drug’s path to market.
Furthermore, Denali’s broader pipeline, including other Transport Vehicle-enabled therapies, shows potential for addressing various neurological conditions. The company’s strategic focus on developing best-in-class therapies that demonstrate both clinical and molecular benefits positions it well for future growth. The anticipated commercialization of DNL-310 and the ongoing development of other candidates highlight Denali’s innovative approach and potential for competitive advantage in the therapeutic landscape.
In another report released yesterday, Stifel Nicolaus also reiterated a Buy rating on the stock with a $37.00 price target.