Analyst Thomas Shrader of BTIG maintained a Buy rating on Denali Therapeutics (DNLI – Research Report), retaining the price target of $32.00.
Thomas Shrader has given his Buy rating due to a combination of factors including Denali Therapeutics’ promising drug pipeline and financial stability. The anticipated launch of DNL310, expected to be a best-in-class drug, is a significant factor. The drug’s development, which focused on patient switches, suggests a faster adoption rate compared to existing treatments, with better tolerability and systemic effects.
Additionally, Denali’s TV pipeline is advancing, with one to two candidates expected to enter clinical trials this year, showing potential for best-in-class status. The early data on TV-ASOs is particularly intriguing, as it indicates the possibility of safer and more effective delivery of treatments to the CNS. Financially, Denali is well-positioned with sufficient cash reserves to fund operations into 2028, further supporting the Buy rating.
In another report released on February 28, Stifel Nicolaus also reiterated a Buy rating on the stock with a $37.00 price target.