Denali Therapeutics initiated with an Outperform at SVB Securities

SVB Securities analyst Marc Goodman initiated coverage of Denali Therapeutics with an Outperform rating and $50 price target. Calling Denali its "favorite CNS platform technology company," the firm notes Denali’s transport vehicle technology appears to solve a significant hurdle in CNS drug development, and its modular and flexible platform capability provides the company the ability to develop many different types of products across a diverse range of CNS therapeutic areas. SVB also highlights that Denali’s lead internal asset has demonstrated strong biomarker and clinical proof-of-concept data leveraging one of the TV drug delivery technologies, such that the product not only has a good chance to be successful but also provides data that supports the company’s approach to leverage this technology in other genetically-driven lysosomal storage disorders. Additionally, Denali’s brain-penetrant small-molecule programs provide a complementary pipeline to the TV platform, the firm says.