UPDATE: Oppenheimer Starts Denali Therapeutics Inc. (DNLI) at Outperform
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(Updated - September 20, 2021 4:12 PM EDT)
Oppenheimer analyst Jay Olson initiates coverage on Denali Therapeutics Inc. (NASDAQ: DNLI) with an Outperform rating and a price target of $85.00.
The analyst commented, "We initiate coverage of Denali Therapeutics (DNLI) with an Outperform rating and $85 price target. We view DNLI as an underappreciated emerging leader in neurodegeneration and CNS disorders with several late-stage development candidates based on novel and differentiated mechanisms of action (MOA) with strong preclinical and clinical data. DNLI applies scientific insights into the genetic and biological processes underlying disease pathology to pursue biomarker strategies that optimize development and potential commercial uptake. DNLI is focusing on targeted small molecules DNL151 (LRRK2), DNL758/DNL788 (RIPK1 peripheral/CNS), and DNL343 (EIF2B), as well as biologics with its Transport Vehicle (TV) delivery technology which include DNL310 (ETV:IDS), DNL593 (PTV:PGRN), and DNL919 (ATV:TREM2). We forecast risk-adjusted peak total revenues of $8.76B in 2037."
Shares of Denali Therapeutics Inc. closed at $52.83 yesterday.
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