The Goldman Sachs Group Cuts Denali Therapeutics (NASDAQ:DNLI) Price Target to $40.00

Denali Therapeutics (NASDAQ:DNLI) had its price target cut by The Goldman Sachs Group from $45.00 to $40.00 in a research note published on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also issued research reports about the company. Stifel Nicolaus raised Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Monday, December 16th. Jefferies Financial Group lifted their price target on Denali Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 1st. HC Wainwright decreased their price objective on shares of Denali Therapeutics from $90.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Robert W. Baird assumed coverage on shares of Denali Therapeutics in a research report on Tuesday, January 7th. They set an “outperform” rating and a $31.00 target price for the company. Finally, Baird R W raised shares of Denali Therapeutics to a “strong-buy” rating in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.00.

Denali Therapeutics Stock Up 0.7 %

DNLI stock opened at $23.58 on Tuesday. The stock has a 50-day simple moving average of $22.45 and a two-hundred day simple moving average of $24.83. Denali Therapeutics has a twelve month low of $14.56 and a twelve month high of $33.33. The firm has a market capitalization of $3.39 billion, a PE ratio of -8.54 and a beta of 1.39.

Denali Therapeutics (NASDAQ:DNLI) last posted its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.03). During the same period last year, the company earned ($0.72) EPS. On average, equities research analysts anticipate that Denali Therapeutics will post -2.73 EPS for the current fiscal year.

Insider Buying and Selling

In other Denali Therapeutics news, insider Carole Ho sold 12,255 shares of Denali Therapeutics stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $20.22, for a total value of $247,796.10. Following the transaction, the insider now directly owns 178,580 shares of the company’s stock, valued at $3,610,887.60. The trade was a 6.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Vicki L. Sato sold 1,020 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $30.00, for a total value of $30,600.00. Following the sale, the director now directly owns 111,056 shares of the company’s stock, valued at approximately $3,331,680. This trade represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 64,518 shares of company stock worth $1,469,382 in the last 90 days. 7.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Denali Therapeutics

A number of hedge funds have recently modified their holdings of DNLI. FMR LLC grew its stake in shares of Denali Therapeutics by 3,234.3% in the third quarter. FMR LLC now owns 7,831,378 shares of the company’s stock worth $228,128,000 after purchasing an additional 7,596,508 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Denali Therapeutics by 63.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,749,486 shares of the company’s stock worth $109,223,000 after buying an additional 1,451,770 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Denali Therapeutics by 9.2% during the third quarter. Wellington Management Group LLP now owns 10,727,450 shares of the company’s stock valued at $312,491,000 after buying an additional 903,683 shares during the period. Millennium Management LLC raised its holdings in shares of Denali Therapeutics by 58.7% during the second quarter. Millennium Management LLC now owns 619,929 shares of the company’s stock valued at $14,395,000 after acquiring an additional 229,313 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Denali Therapeutics by 13.8% in the third quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company’s stock worth $36,076,000 after acquiring an additional 149,939 shares during the period. Hedge funds and other institutional investors 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.