Denali Therapeutics price target lowered to $30 from $32 at Wedbush

Wedbush lowered the firm’s price target on Denali Therapeutics (DNLI) to $30 from $32 and keeps an Outperform rating on the shares. The firm says that most notable in the Q1 update, Denali submitted the rolling BLA submission for tividenofusp alfa in Hunter syndrome. Separately in the pipeline, partner Biogen (BIIB) previously announced LUMA enrollment completion for BIIB122/DNL151 which sets up a mid-2026 readout for the program. Following the update, Wedbush is shifting out its launch timing for BIIB122 by two quarters and moderating the start of the tividenofusp alfa launch.