TD Cowen analyst Joseph Thome has maintained their bullish stance on DNLI stock, giving a Buy rating on November 3.
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Joseph Thome has given his Buy rating due to a combination of factors surrounding Denali Therapeutics’ promising pipeline and strategic progress. The company is preparing for the commercial launch of its lead program, DNL310, which targets Hunter syndrome. Despite a recent extension of the PDUFA date to April 2026, Thome remains optimistic about its approval, given the strong clinical data showing significant reductions in harmful substances in the cerebrospinal fluid and improvements in clinical measures.
Additionally, Denali’s progress with DNL126 for Sanfilippo syndrome Type A further supports the Buy rating. The completion of enrollment in the Phase I/II study and the alignment on an accelerated approval pathway suggest a promising future for this program. The similarities in the development paths of DNL310 and DNL126, both leveraging Denali’s TV technology, reduce the risk associated with DNL126’s development. Thome views Denali’s shares as undervalued, considering the potential of their therapeutic platform.
Thome covers the Healthcare sector, focusing on stocks such as United Therapeutics, PTC Therapeutics, and AnaptysBio. According to TipRanks, Thome has an average return of 20.6% and a 56.00% success rate on recommended stocks.
In another report released on November 3, J.P. Morgan also maintained a Buy rating on the stock with a $26.00 price target.