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Investing.com - Cantor Fitzgerald has reiterated its Overweight rating on Denali Therapeutics Inc. (NASDAQ:DNLI), maintaining its positive outlook on the biotechnology company. The stock, currently trading at $15.43, has received strong backing from Wall Street, with analysts setting price targets ranging from $24 to $40.
The research firm views Denali as potentially becoming "the next GENZ (or bigger)" - referring to Genzyme, a company known for its enzyme replacement therapies that was acquired by Sanofi in 2011.
Cantor Fitzgerald highlighted Denali’s portfolio of enzyme replacement therapies for rare diseases that can better target brain, muscle or even bone as a key strength for the company.
While Denali also maintains programs for more common neurodegenerative conditions including Alzheimer’s and Parkinson’s disease, Cantor believes the company could evolve into a global rare disease enterprise.
The firm projects Denali has the potential to generate billions of dollars in peak revenue across its portfolio, though it noted this transformation would require significant time and resources.
In other recent news, Denali Therapeutics Inc. has received significant attention following the acceptance of its Biologics License Application (BLA) for DNL310, a treatment for Hunter syndrome, by the U.S. Food and Drug Administration (FDA). The FDA has granted a priority review for this application, setting a Prescription Drug User Fee Act (PDUFA) date of January 5, 2026, for a potential approval decision. This development has been positively received by analysts, with Stifel maintaining its Buy rating and a $37.00 price target on the stock. William Blair also reiterated its Outperform rating on Denali, citing the breakthrough therapy designation as a positive step towards accelerated approval. In addition, BTIG continues to support Denali with a Buy rating and a $32.00 price target, highlighting the advantages of the company’s blood-brain barrier shuttle technology. The technology allows for higher dosing of DNL310 without unacceptable anemia, which is a notable advancement over existing treatments. These recent developments underscore Denali Therapeutics’ progress in addressing Hunter syndrome and its potential impact on the market.
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