William Blair analyst Myles Minter has maintained their bullish stance on DNLI stock, giving a Buy rating on October 3.
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Myles Minter has given his Buy rating due to a combination of factors that suggest Denali Therapeutics is undervalued and has promising potential. The extension of the PDUFA date for tividenofusp alfa (tivi) for Hunter syndrome was due to a procedural amendment related to clinical pharmacology, not due to concerns about efficacy or safety. This indicates that the core value proposition of the drug remains intact.
Minter also notes that the absence of an advisory committee meeting in the FDA review process is a positive sign, as it suggests a smoother path to approval. Furthermore, there is a precedent for approval in similar cases, such as Takeda’s Elaprase, which adds confidence in the potential approval of tivi. These factors collectively contribute to Minter’s positive outlook on Denali Therapeutics’ stock.
In another report released on October 3, Bank of America Securities also maintained a Buy rating on the stock with a $27.00 price target.
Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of DNLI in relation to earlier this year.