B. Riley analyst Mayank Mamtani lowered the firm’s price target on Denali Therapeutics (DNLI) to $30 from $35 and keeps a Buy rating on the shares following the Q1 report. The firm updated the company’s model. FDA-related uncertainty continues to weigh on the stock, but attainment of regulatory and pipeline execution milestones in coming months, alongside visibility into new FDA leadership staff taking form, could bode well for Denali, the analyst tells investors in a research note.
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