BofA raised the firm’s price target on Denali Therapeutics (DNLI) to $29 from $26 and keeps a Buy rating on the shares after the company hosted an investor day to outline its three-year growth strategy. Following the event, the firm introduced the royalty agreement with Royalty Pharma into its model and adjusted its cost of goods sold estimates based on management commentary, while also increasing its gross pipeline value to $4.5B from $4B.
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Read More on DNLI:
- Denali Therapeutics price target raised to $31 from $30 at Wedbush
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- Denali Therapeutics Secures $275M Royalty Funding Deal
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