HC Wainwright Reaffirms Buy Rating for Denali Therapeutics (NASDAQ:DNLI)

HC Wainwright restated their buy rating on shares of Denali Therapeutics (NASDAQ:DNLI) in a research note released on Thursday morning, Benzinga reports. HC Wainwright currently has a $90.00 price target on the stock.

Several other equities analysts also recently commented on DNLI. Stifel Nicolaus lowered their target price on shares of Denali Therapeutics from $26.00 to $22.00 and set a hold rating on the stock in a research report on Wednesday, May 8th. JPMorgan Chase & Co. raised their price objective on Denali Therapeutics from $28.00 to $29.00 and gave the company an overweight rating in a research note on Wednesday, July 10th. Citigroup upped their target price on Denali Therapeutics from $26.00 to $32.00 and gave the stock a buy rating in a research report on Friday, August 2nd. Finally, Wedbush dropped their price target on shares of Denali Therapeutics from $30.00 to $26.00 and set an outperform rating on the stock in a research report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $39.33.

Denali Therapeutics Stock Performance

Shares of NASDAQ DNLI opened at $23.02 on Thursday. The business has a 50 day simple moving average of $22.38 and a 200 day simple moving average of $20.00. Denali Therapeutics has a 52 week low of $14.56 and a 52 week high of $25.24. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of -23.98 and a beta of 1.40.

Denali Therapeutics (NASDAQ:DNLI) last posted its earnings results on Thursday, August 1st. The company reported ($0.59) EPS 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 the consensus estimate of $10.00 million. During the same period in the prior year, the firm earned $1.30 earnings per share. The business’s revenue was down 99.7% on a year-over-year basis. On average, analysts predict that Denali Therapeutics will post -2.77 EPS for the current year.

Insider Buying and Selling

In other Denali Therapeutics news, Director Jennifer E. Cook sold 1,458 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $21.73, for a total value of $31,682.34. Following the completion of the sale, the director now directly owns 20,038 shares of the company’s stock, valued at approximately $435,425.74. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Jennifer E. Cook sold 1,458 shares of Denali Therapeutics stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $21.73, for a total transaction of $31,682.34. Following the sale, the director now owns 20,038 shares of the company’s stock, valued at approximately $435,425.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steve E. Krognes sold 30,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $22.12, for a total value of $663,600.00. Following the completion of the transaction, the director now owns 34,404 shares of the company’s stock, valued at $761,016.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,146 shares of company stock valued at $710,274. 7.90% of the stock is owned by company insiders.

Institutional Trading of Denali Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWM LLC boosted its holdings in Denali Therapeutics by 216.7% during the fourth quarter. CWM LLC now owns 2,011 shares of the company’s stock valued at $43,000 after purchasing an additional 1,376 shares in the last quarter. GAMMA Investing LLC lifted 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 buying an additional 1,847 shares during the period. PNC Financial Services Group Inc. boosted its stake in Denali Therapeutics by 48.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,486 shares of the company’s stock valued at $53,000 after buying an additional 807 shares in the last quarter. Fisher Asset Management LLC acquired a new stake in Denali Therapeutics in the 4th quarter valued at $59,000. Finally, Assetmark Inc. grew its position in Denali Therapeutics by 65.3% in the fourth quarter. Assetmark Inc. now owns 3,550 shares of the company’s stock valued at $76,000 after acquiring an additional 1,402 shares during the period. Institutional investors own 92.92% of the company’s stock.

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.