BTIG raised the firm's price target on Denali Therapeutics to $39 from $38 and keeps a Buy rating on the shares as the company regains full rights to investigational therapy DNL593 for GRN-related Frontotemporal Dementia. Noting a "promising" program is back, the firm says it is "curious as prior failure very modestly related," but notes some caution seems appropriate. With that said, BTIG believes the bigger total addressable market supports raising the price target despite the added risk.
