Denali Therapeutics initiated with bullish view at Citi, here’s why

Citi analyst David Hoang initiated coverage of Denali Therapeutics with a Buy rating and $32 price target. The analyst says the shares currently offer an attractive risk/reward based on depth of the company’s pipeline, strength of science, and valuation, which is down 75% from all-time highs at the end of 2020. Denali is approaching a “catalyst-rich window” starting in 2024, which could see one or more of its assets clinically validated in indications with high unmet need, the analyst tells investors in a research note.