Denali Therapeutics (NASDAQ:DNLI) Posts Earnings Results, Beats Expectations By $0.08 EPS

Denali Therapeutics (NASDAQ:DNLI) announced its quarterly earnings results on Thursday. The company reported ($0.67) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.08, Zacks reports.

Denali Therapeutics Price Performance

Denali Therapeutics stock opened at $16.56 on Friday. The stock has a market cap of $2.38 billion, a P/E ratio of -6.00 and a beta of 1.43. Denali Therapeutics has a 1 year low of $14.56 and a 1 year high of $33.33. The firm’s 50 day moving average price is $21.29 and its 200-day moving average price is $24.55.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Baird R W upgraded shares of Denali Therapeutics to a “strong-buy” rating in a research note on Tuesday, January 7th. Stifel Nicolaus upgraded shares of Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Monday, December 16th. Robert W. Baird assumed coverage on shares of Denali Therapeutics in a research note on Tuesday, January 7th. They issued an “outperform” rating and a $31.00 price objective on the stock. Finally, The Goldman Sachs Group lowered their price objective on shares of Denali Therapeutics from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $37.42.

Insider Activity

In other news, CEO Ryan J. Watts sold 29,266 shares of Denali Therapeutics stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $20.22, for a total transaction of $591,758.52. Following the sale, the chief executive officer now owns 260,721 shares in the company, valued at $5,271,778.62. This trade represents a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Carole Ho sold 12,255 shares of Denali Therapeutics stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $20.22, for a total transaction of $247,796.10. Following the sale, the insider now owns 178,580 shares in the company, valued at approximately $3,610,887.60. The trade was a 6.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,940 shares of company stock worth $973,442 over the last quarter. Insiders own 7.90% of the company’s stock.

About Denali Therapeutics

Denali Therapeutics Inc, a biopharmaceutical company, develops a portfolio of product candidates engineered to cross the blood-brain barrier for neurodegenerative diseases and lysosomal storage diseases in the United States. The company’s transport vehicle (TV)-enabled programs include DNL310 ETV, an IDS enzyme replacement therapy program for MPS II; TAK-594/DNL593 which is in Phase 1/II for frontotemporal dementia-granulin; DNL126 program for MPS IIIA; and DNL622 for MPS I, as well as other preclinical programs that target amyloid beta and HER2.