Brokerages Set Denali Therapeutics Inc. (NASDAQ:DNLI) Price Target at $38.33

Shares of Denali Therapeutics Inc. (NASDAQ:DNLI) have earned an average rating of “Moderate Buy” from the nine analysts that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $38.33.

A number of research analysts have recently issued reports on DNLI shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $35.00 price target on shares of Denali Therapeutics in a report on Monday, September 9th. Bank of America increased their price target on shares of Denali Therapeutics from $25.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. boosted their price objective on shares of Denali Therapeutics from $28.00 to $29.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. HC Wainwright restated a “buy” rating and issued a $90.00 target price on shares of Denali Therapeutics in a research note on Wednesday, September 4th. Finally, Wedbush decreased their price objective on Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating for the company in a report on Friday, August 2nd.

Denali Therapeutics Trading Up 1.5 %

Shares of Denali Therapeutics stock opened at $28.63 on Wednesday. The stock’s fifty day moving average price is $25.93 and its 200-day moving average price is $22.08. The firm has a market cap of $4.08 billion, a P/E ratio of -29.82 and a beta of 1.37. Denali Therapeutics has a 12 month low of $14.56 and a 12 month high of $32.13.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.59) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.09. The business had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $10.00 million. Denali Therapeutics’s revenue for the quarter was down 99.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.30 EPS. Analysts forecast that Denali Therapeutics will post -2.54 earnings per share for the current year.

Insider Transactions at Denali Therapeutics

In related news, Director Steve E. Krognes sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $29.03, for a total value of $870,900.00. Following the sale, the director now owns 29,096 shares in the company, valued at $844,656.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 7.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. EP Wealth Advisors LLC purchased a new stake in shares of Denali Therapeutics in the first quarter worth about $831,000. Edgestream Partners L.P. acquired a new position in Denali Therapeutics in the 1st quarter worth about $2,301,000. Susquehanna Fundamental Investments LLC purchased a new position in Denali Therapeutics during the first quarter worth approximately $4,330,000. Swiss National Bank grew its holdings in Denali Therapeutics by 0.7% in the first quarter. Swiss National Bank now owns 218,200 shares of the company’s stock valued at $4,477,000 after purchasing an additional 1,500 shares during the period. Finally, Bayesian Capital Management LP purchased a new stake in shares of Denali Therapeutics in the first quarter valued at approximately $447,000. 92.92% of the stock is currently owned by institutional investors and hedge funds.

Denali Therapeutics Company Profile

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.