Denali Therapeutics price target lowered to $87 from $90 at H.C. Wainwright

H.C. Wainwright analyst Andrew Fein lowered the firm’s price target on Denali Therapeutics (DNLI) to $87 from $90 and keeps a Buy rating on the shares after the company announced topline data from the Phase 2/3 HEALEY trial which was testing an agonist of eIF2B for amyotrophic lateral sclerosis. The trial failed to meet the primary endpoint ALSFRSR and survival through week 24, along with the key secondary endpoints such as muscle strength and respiratory function, the analyst tells investors in a research note. The firm says the results “are not shocking given the complexities of conducting a perfect ALS trial.” It removed DNL343 from its valuation.