Brokerages Set Denali Therapeutics Inc. (NASDAQ:DNLI) Price Target at $38.90

Shares of Denali Therapeutics Inc. (NASDAQ:DNLI) have been assigned a consensus rating of “Moderate Buy” from the eleven analysts that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $38.90.

DNLI has been the topic of several recent analyst reports. Bank of America increased their price objective on shares of Denali Therapeutics from $25.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Raymond James reiterated a “market perform” rating on shares of Denali Therapeutics in a research report on Thursday, October 10th. JPMorgan Chase & Co. reduced their target price on shares of Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Cantor Fitzgerald cut shares of Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, October 7th. Finally, Jefferies Financial Group raised their price objective on shares of Denali Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 1st.

Insider Activity

In other news, Director Steve E. Krognes sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $29.03, for a total value of $870,900.00. Following the completion of the transaction, the director now owns 29,096 shares of the company’s stock, valued at approximately $844,656.88. This trade represents a 50.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Alexander O. Schuth sold 15,558 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $29.91, for a total transaction of $465,339.78. Following the completion of the transaction, the insider now directly owns 178,066 shares of the company’s stock, valued at approximately $5,325,954.06. The trade was a 8.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,578 shares of company stock valued at $2,474,440. 7.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC lifted its stake in Denali Therapeutics by 879.5% in the second quarter. GAMMA Investing LLC now owns 2,057 shares of the company’s stock worth $48,000 after acquiring an additional 1,847 shares during the last quarter. CWM LLC lifted its stake in Denali Therapeutics by 43.6% in the third quarter. CWM LLC now owns 2,153 shares of the company’s stock worth $63,000 after acquiring an additional 654 shares during the last quarter. Quest Partners LLC purchased a new position in Denali Therapeutics in the third quarter worth approximately $73,000. Assetmark Inc. lifted its stake in Denali Therapeutics by 18.0% in the third quarter. Assetmark Inc. now owns 3,808 shares of the company’s stock worth $111,000 after acquiring an additional 580 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Denali Therapeutics in the first quarter worth approximately $147,000. Hedge funds and other institutional investors own 92.92% of the company’s stock.

Denali Therapeutics Stock Performance

Shares of NASDAQ DNLI opened at $24.69 on Thursday. The company’s fifty day moving average price is $27.88 and its 200 day moving average price is $24.24. Denali Therapeutics has a 1 year low of $14.56 and a 1 year high of $33.33. The company has a market capitalization of $3.55 billion, a PE ratio of -8.95 and a beta of 1.40.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.03). During the same period in the previous year, the firm earned ($0.72) EPS. On average, equities analysts expect that Denali Therapeutics will post -2.69 EPS for the current year.

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.