Denali Therapeutics (NASDAQ:DNLI) is one of the most promising mid-cap healthcare stocks under $50.
On December 11, Wedbush analyst Laura Chico maintained her bullish stance on Denali Therapeutics (NASDAQ:DNLI). She rated the stock Buy with a $30 target price, implying a notable 78% upside for investors.
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Chico’s price target is a revision from the previous target of $31, but this comes after the company’s completion of a recent $200 million secondary offering. The company issued 9.1 million additional common shares at $17.50 per share. The issuance also involved pre-funded warrants to buy an additional 2.3 million common shares. Chico estimated the overall net proceeds from this offering to be in the range of $217 million. She sees such equity financing to be logical at a time when the company is engaged with the FDA regarding a potential tivi PRV issuance.
Besides that, Denali Therapeutics (NASDAQ:DNLI) stock has received Buy calls from all 11 analysts by the close of play on December 19. According to analyst estimates, the stock’s median 1-year price target is $31 per share, implying nearly 84% upside at current market levels.
Denali Therapeutics (NASDAQ:DNLI) is a biotechnology company that utilizes proprietary technology to address neurodegenerative diseases. Through their TransportVehicle™ platform, and by leveraging the power of biotherapeutics, they develop medicines for some very serious conditions, including lysosomal storage.
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Disclosure: None. This article is originally published at Insider Monkey.
