H.C. Wainwright lowered the firm’s price target on Denali Therapeutics (DNLI) to $32 from $80 and keeps a Buy rating on the shares after the company shared that it has completed the Biologic License Application submission for tividenofusp alfa, setting the company up for a late 2025 or early 2026 launch. However, the firm is lowering multiples and increasing discount rates to better align with current investor sentiment, elevated cost of capital, and reduced appetite for early-stage clinical risk, which reduces its price target the analyst tells investors.
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Read More on DNLI:
- Denali Therapeutics: Strategic Advancements and Promising Pipeline Drive Buy Rating
- Denali Therapeutics reports Q1 EPS (78c), consensus (70c)
- Denali Therapeutics upgraded to Overweight from Neutral at Cantor Fitzgerald
- Denali Therapeutics Begins BLA Submission for Tividenofusp Alfa
- Denali initiates BLA filing for accelerated approval of tividenofusp alfa
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