Denali Therapeutics Inc. (NASDAQ:DNLI) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Denali Therapeutics Inc. (NASDAQ:DNLI) have earned a consensus rating of “Moderate Buy” from the ten research firms that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $38.22.

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their price target on Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating for the company in a report on Friday, October 11th. HC Wainwright reiterated a “buy” rating and set a $90.00 price target on shares of Denali Therapeutics in a report on Wednesday, September 4th. Raymond James reiterated a “market perform” rating on shares of Denali Therapeutics in a report on Thursday, October 10th. Citigroup increased their price target on Denali Therapeutics from $26.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Cantor Fitzgerald cut Denali Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, October 7th.

Denali Therapeutics Stock Down 1.1 %

Shares of NASDAQ:DNLI opened at $26.15 on Friday. The business has a fifty day moving average of $27.10 and a two-hundred day moving average of $22.81. The stock has a market cap of $3.73 billion, a P/E ratio of -27.24 and a beta of 1.38. Denali Therapeutics has a 52-week low of $14.56 and a 52-week high of $32.13.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.59) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.09. The business had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $10.00 million. The business’s revenue for the quarter was down 99.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.30 earnings per share. On average, equities analysts anticipate that Denali Therapeutics will post -2.54 earnings per share for the current year.

Insider Buying and Selling at Denali Therapeutics

In other Denali Therapeutics news, Director Steve E. Krognes sold 30,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at $844,656.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Denali Therapeutics news, Director Steve E. Krognes sold 30,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at $844,656.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan J. Watts sold 40,000 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $27.69, for a total value of $1,107,600.00. Following the completion of the sale, the chief executive officer now directly owns 235,807 shares in the company, valued at $6,529,495.83. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 7.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Denali Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC raised its position in shares of Denali Therapeutics by 879.5% during the 2nd quarter. GAMMA Investing LLC now owns 2,057 shares of the company’s stock worth $48,000 after acquiring an additional 1,847 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Denali Therapeutics by 48.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,486 shares of the company’s stock worth $53,000 after acquiring an additional 807 shares in the last quarter. CWM LLC raised its position in shares of Denali Therapeutics by 43.6% during the 3rd quarter. CWM LLC now owns 2,153 shares of the company’s stock worth $63,000 after acquiring an additional 654 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Denali Therapeutics during the 1st quarter worth about $88,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Denali Therapeutics during the 1st quarter worth about $147,000. Institutional investors and hedge funds own 92.92% 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.