Denali Therapeutics price target raised to $45 from $40 at Jefferies

Jefferies raised the firm’s price target on Denali Therapeutics (DNLI) to $45 from $40 and keeps a Buy rating on the shares ahead of the company reporting first DNL-126 Phase 1/2 data in Sanfilippo Type A by year-end. Sanfilippo could “follow a very fast FDA path” and the drug has FDA START orphan designation for potentially fast regulatory path discussions, says the analyst, who thinks “strong and robust HS biomarker data” and good safety for Sanfilippo should help de-risk a second potential drug for Denali.