12 Oversold NASDAQ Stocks to Buy Now

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7. Denali Therapeutics, Inc. (NASDAQ:DNLI)

YTD Decline: -27.92%

Analyst Upside: 117.84%

Number of Hedge Fund Holders: 31

Denali Therapeutics, Inc. (NASDAQ:DNLI) is one of the best oversold NASDAQ stocks to buy now. In a report released on July 7, Thomas Shrader from BTIG maintained a Buy rating on Denali Therapeutics, Inc. (NASDAQ:DNLI) with a price target of $32.00.

Basing the optimistic rating on the company’s promising developments, the analyst reasoned that Denali Therapeutics, Inc. (NASDAQ:DNLI) has made notable developments in its enzyme replacement therapy, DNL-310, which the FDA has accepted for priority review for the treatment of Hunter Syndrome.

He stated that therapy is significant for its ability to cross the blood-brain barrier, which may provide considerable advantages over the present treatments. With the FDA’s acceptance showing strong regulatory support, the drug may attain an expedited path to the market.

The firm also stated that Denali Therapeutics, Inc.’s (NASDAQ:DNLI) broader pipeline, which includes other Transport Vehicle-enabled therapies, also suggests the potential to address various neurological conditions.

Denali Therapeutics, Inc. (NASDAQ: DNLI) develops and commercializes product candidates for the treatment of neurodegenerative diseases. Its product portfolio includes LRRK2, RIPK1, TREM2, and Tau.

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