UBS Assumes Denali Therapeutics Inc. (DNLI) at Buy

UBS analyst Michael Yee assumes coverage on Denali Therapeutics Inc. (NASDAQ: DNLI) with a Buy rating and a price target of $25.00.

The analyst comments: "We assume coverage at BUY on our expectation of FDA approval for its first product DNL310 for Hunter syndrome, which is under FDA review with a PDUFA date for April 5, 2026 (extended from prior Jan 5, 2026). This approval would support a $500-700M+ drug or $2B EV and unlock significant platform value and optionality for its BBB tech to address many other diseases of the brain. Specifically, it de-risks the 2nd program DNL126 for Sanfilippo Type A which is in a pivotal Phase I/II study with data at WORLDSymposium 2026 for the first 8 patients and data from all 20 patients in Q3/26 to file this drug in 2027 for another $300-500M+ franchise. The combination of $1B+ in potential peak sales on these two enzyme replacement program opportunities supports our estimated $4-5B EV and thus does not give enough value to its handful of other BBB pipeline programs (we are keenly focused on Alzheimer’s – mainly the new BBB-Tau program starting Phase I and an upcoming BBB-Abeta program with IND-filing in H1/26 which is derisked from ROG trontinemab brain shuttle data)."

For an analyst ratings summary and ratings history on Denali Therapeutics Inc. click here. For more ratings news on Denali Therapeutics Inc. click here.

Shares of Denali Therapeutics Inc. closed at $17.21 yesterday.

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