Stifel Reiterates Buy Rating on Denali Therapeutics Inc. (DNLI)

Stifel analyst Paul Mattels reiterated a Buy rating and $37.00 price target on Denali Therapeutics Inc. (NASDAQ: DNLI).

The analyst commented, "We remain Buy rated on DNLI after catching up with CEO Ryan Watts at our Healthcare Conference. In our discussions, management described how the PDUFA extension for DNL310 was related to a clerical error in a molecular weight calculation, and not related to efficacy/safety or an actual review issue. Notably, DNLI cited continued productive engagement with the agency and they’re actually in labeling discussions which suggests that approval might even happen well before the new PDUFA. Meanwhile, DNL126 has also received regulatory alignment to file for AA in Sanfilippo on CSF heparan-sulfate--49week results are expected at WORLD in February. We also discussed the pipeline, including DNL628, DNLI's anti-tau Oligo for AD, a highly promising program where management believes the broad biodistribution and strong MAPT knockdown seen preclinically may translate to clinical success."

For an analyst ratings summary and ratings history on Denali Therapeutics Inc. click here. For more ratings news on Denali Therapeutics Inc. click here.

Shares of Denali Therapeutics Inc. closed at $17.44 yesterday.

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