Analyst Andrew Fein of H.C. Wainwright maintained a Buy rating on Denali Therapeutics (DNLI – Research Report), reducing the price target to $80.00.
Andrew Fein has given his Buy rating due to a combination of factors surrounding Denali Therapeutics’ promising developments. The company’s ETV platform, particularly with tividenofusp alfa, shows significant potential in treating Hunter syndrome by addressing neurocognitive, behavioral, and physical deficiencies. The Phase 1/2 study results demonstrate substantial reductions in disease biomarkers and improvements in patient conditions, suggesting that tividenofusp alfa could surpass existing therapies like Elaprase.
Furthermore, the broader implications of the ETV platform, including its application to other conditions such as Gaucher and Pompe diseases, as well as the promising results from the DNL-126 program, contribute to the positive outlook. Denali’s strategic advancements in IND enabling programs targeting neurodegenerative diseases, along with their innovative transport vehicle technologies, position the company for substantial growth and value creation. These factors collectively underpin Fein’s confidence in Denali’s future prospects, justifying the Buy rating despite a slight reduction in the price target.
According to TipRanks, Fein is a 3-star analyst with an average return of 2.5% and a 39.88% success rate. Fein covers the Healthcare sector, focusing on stocks such as Neurocrine, Palvella Therapeutics, and Vertex Pharmaceuticals.