In a report released yesterday, Charles Duncan from Cantor Fitzgerald reiterated a Buy rating on Denali Therapeutics Inc (DNLI), with a price target of $25. The company’s shares closed yesterday at $18.20.
Duncan commented:
“We reiterate our OW rating and $25 PT on shares of DNLI based on lead PD & AD programs, as well as potential, risk-mitigating, value creation by its BBB crossing TV platform. DNL201 & DNL151 are small molecule inhibitors of LRRK2 targeting lysosomal dysfunction, which contributes to neurodegeneration in PD pts. For AD & ALS, lead candidate DNL747 inhibits RIPK1 in microglia which, when activated, play a role in neurodegeneration by increasing pro-inflammatory cytokines that cause tissue damage. Finally, preclinical results for the BBB crossing TVs provide predictive value for translation to clinical benefit.”
According to TipRanks.com, Duncan is a 1-star analyst with an average return of -1.0% and a 42.2% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, KalVista Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.
Currently, the analyst consensus on Denali Therapeutics Inc is a Strong Buy with an average price target of $27.50, representing a 51.1% upside. In a report issued on November 12, Janney Montgomery also initiated coverage with a Buy rating on the stock.
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Based on Denali Therapeutics Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $35.37 million. In comparison, last year the company had a GAAP net loss of $21.84 million.
Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of DNLI in relation to earlier this year.
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Denali Therapeutics, Inc. engages in the development of portfolio of therapeutic candidates for neurodegenerative diseases. Its programs comprises of lysosomal function pathway, glial biology pathway, and cellular homeostasis.
