Goldman Sachs Maintains Buy Rating for Denali Therapeutics: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Goldman Sachs has reaffirmed its Buy rating on Denali Therapeutics (NASDAQ:DNLI) but reduced its price target from $73.00 to $50.00. Despite this adjustment, DNLI's shares have risen by 2.62% in the last 24 hours to $20.74. A move to the new target price would represent a 141.08% increase from the current level. Denali Therapeutics is focused on developing treatments for neurodegenerative diseases, with several key products in its pipeline.
February 29, 2024 | 5:00 pm
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Goldman Sachs maintains Buy rating on DNLI but lowers price target from $73 to $50. DNLI's stock has risen 2.62% to $20.74, indicating positive market reaction.
The maintenance of a Buy rating by Goldman Sachs, despite a lower price target, suggests confidence in DNLI's long-term potential. The immediate positive market reaction (2.62% increase) reflects investor optimism. The significant gap between the current price and the new target indicates potential for substantial growth, which could attract more investors.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100