BTIG analyst Thomas Shrader maintained a Buy rating on Denali Therapeutics (DNLI – Research Report) yesterday and set a price target of $32.00.
Thomas Shrader has given his Buy rating due to a combination of factors that highlight Denali Therapeutics’ promising pipeline and financial stability. The completion of the BLA submission for DNL310, an enzyme replacement therapy, is a significant milestone, with expected approval by the end of 2025. This therapy is anticipated to be best-in-class, particularly in younger patients, due to its superior tolerability and effectiveness in treating dense organs like the liver and spleen.
Furthermore, Denali’s financial position is robust, with sufficient cash reserves projected to fund operations into 2028, providing a stable foundation for continued research and development. The company’s pipeline includes exciting prospects, such as TV-equipped replacement enzymes and TV-ASOs, which have the potential to address significant unmet needs in diseases like Alzheimer’s and Parkinson’s. These factors, combined with positive preliminary data for other treatments like DNL126, underscore the potential for Denali’s therapies to achieve competitive advantages in the market.
Shrader covers the Healthcare sector, focusing on stocks such as Arcturus Therapeutics, Novavax, and Verona Pharma. According to TipRanks, Shrader has an average return of 0.2% and a 33.81% success rate on recommended stocks.
In another report released yesterday, Oppenheimer also maintained a Buy rating on the stock with a $35.00 price target.