Denali Therapeutics (NASDAQ:DNLI) Given New $38.00 Price Target at BTIG Research

Denali Therapeutics (NASDAQ:DNLI) had its price target increased by equities research analysts at BTIG Research from $36.00 to $38.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price objective would suggest a potential upside of 69.11% from the company’s previous close.

A number of other brokerages also recently commented on DNLI. Robert W. Baird boosted their target price on Denali Therapeutics from $29.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday. HC Wainwright raised their price target on Denali Therapeutics from $32.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley reiterated an “overweight” rating and set a $40.00 price target on shares of Denali Therapeutics in a report on Thursday, January 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Denali Therapeutics in a report on Wednesday, January 21st. Finally, UBS Group started coverage on Denali Therapeutics in a report on Wednesday, January 7th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.70.

Denali Therapeutics Stock Performance

Shares of DNLI stock opened at $22.47 on Wednesday. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of -7.57 and a beta of 1.02. Denali Therapeutics has a 1-year low of $10.57 and a 1-year high of $23.77. The company has a current ratio of 9.16, a quick ratio of 9.16 and a debt-to-equity ratio of 0.01. The stock’s fifty day simple moving average is $20.41 and its 200-day simple moving average is $17.80.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.73) EPS for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.02. During the same quarter in the previous year, the company earned ($0.67) EPS. On average, sell-side analysts predict that Denali Therapeutics will post -2.71 earnings per share for the current fiscal year.

Insider Activity at Denali Therapeutics

In related news, insider Alexander O. Schuth sold 17,218 shares of the firm’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $16.50, for a total value of $284,097.00. Following the transaction, the insider directly owned 282,828 shares in the company, valued at approximately $4,666,662. This trade represents a 5.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ryan J. Watts sold 35,198 shares of Denali Therapeutics stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $16.50, for a total value of $580,767.00. Following the completion of the transaction, the chief executive officer owned 296,833 shares in the company, valued at $4,897,744.50. The trade was a 10.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 12.50% of the company’s stock.

Institutional Trading of Denali Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DNLI. Foresite Capital Management VI LLC bought a new stake in shares of Denali Therapeutics in the third quarter valued at approximately $14,520,000. AlphaQuest LLC increased its position in Denali Therapeutics by 224.1% during the third quarter. AlphaQuest LLC now owns 74,422 shares of the company’s stock worth $1,081,000 after acquiring an additional 51,458 shares during the period. Aberdeen Group plc raised its stake in Denali Therapeutics by 23.4% during the 3rd quarter. Aberdeen Group plc now owns 1,113,586 shares of the company’s stock valued at $16,169,000 after purchasing an additional 210,835 shares during the last quarter. Principal Financial Group Inc. raised its stake in Denali Therapeutics by 18.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,271,190 shares of the company’s stock valued at $18,458,000 after purchasing an additional 198,207 shares during the last quarter. Finally, Schroder Investment Management Group boosted its holdings in Denali Therapeutics by 32.5% in the 2nd quarter. Schroder Investment Management Group now owns 386,539 shares of the company’s stock valued at $5,408,000 after purchasing an additional 94,744 shares during the period. Institutional investors and hedge funds own 92.92% of the company’s stock.

About Denali Therapeutics

Denali Therapeutics is a clinical?stage biopharmaceutical company focused on developing therapies for neurodegenerative diseases. The company’s research leverages a proprietary Blood–Brain Barrier Transport Vehicle (TV) platform designed to enable large molecules, including antibodies and enzymes, to penetrate the central nervous system. Denali’s approach includes small molecules, monoclonal antibodies and gene therapy candidates aimed at key drivers of disorders such as Alzheimer’s disease, Parkinson’s disease, amyotrophic lateral sclerosis (ALS) and frontotemporal dementia.

Among Denali’s lead programs is an orally delivered leucine?rich repeat kinase 2 (LRRK2) inhibitor for Parkinson’s disease, and an anti?TREM2 antibody designed to modulate microglial activity in Alzheimer’s patients.