ABCL - Denali Therapeutics initiated at buy at Berenberg on getting drugs directly into brain

Berenberg has started Denali Therapeutics (NASDAQ:DNLI) with a buy rating saying that the central nervous system ("CNS")-focused company has technology making it possible to get drugs directly into the brain. The firm has a $39 price target (~43% upside based on Wednesday's close). Analyst Caroline Palomeque said that Denali's (DNLI) technology has the ability to allow for therapies to pass through the blood-brain barrier, greatly enhancing the ability to treat CNS diseases. She added that the company's partnerships with several big biopharma companies validate Denali's (DNLI) technology. Partners include Sanofi (SNY), Biogen (BIIB), Roche's (OTCQX:RHHBY) Genentech unit, and AbCellera Biologics (ABCL). Palomeque wrote that the the company's transport vehicle technology provides individual platforms that can be used for other therapeutic areas within CNS, expanding commercial opportunities. Denali (DNLI) and Biogen (BIIB) recently began a phase 2 study of a Parkinson's disease candidate.

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Denali Therapeutics initiated at buy at Berenberg on getting drugs directly into brain