BTIG Reiterates a Buy Rating on Denali Therapeutics (DNLI) With a $32 Price Target

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.

A doctor examining a patient’s brain scan in a hospital setting displaying a neurological disorder.

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.

While we acknowledge the potential of DNLI to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than XXXX and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.