Denali Therapeutics price target raised to $41 from $34 at Stifel

Stifel analyst Paul Matteis raised the firm’s price target on Denali Therapeutics (DNLI) to $41 from $34 and keeps a Buy rating on the shares following Avlayah’s approval for the neurological manifestations of Hunter Syndrome. Though expectations are for a slow launch, this serves as a key catalyst that derisks a floor value for the stock, holds positive implications for an accelerated approval pathway for DNL126 in Sanfillipo, and improves the setup into some of the higher risk/higher reward catalysts in Alzheimer’s, the analyst tells investors.