Denali Therapeutics (NASDAQ:DNLI) Price Target Cut to $42.00 by Analysts at Oppenheimer

Denali Therapeutics (NASDAQ:DNLI) had its target price trimmed by Oppenheimer from $50.00 to $42.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other equities research analysts have also issued reports on DNLI. JPMorgan Chase & Co. reduced their target price on shares of Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Baird R W raised shares of Denali Therapeutics to a “strong-buy” rating in a report on Tuesday, January 7th. HC Wainwright increased their target price on shares of Denali Therapeutics from $80.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Robert W. Baird assumed coverage on shares of Denali Therapeutics in a report on Tuesday, January 7th. They issued an “outperform” rating and a $31.00 target price for the company. Finally, The Goldman Sachs Group reduced their target price on shares of Denali Therapeutics from $45.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Denali Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.57.

Denali Therapeutics Stock Up 2.2 %

NASDAQ DNLI opened at $16.30 on Monday. Denali Therapeutics has a 52 week low of $14.01 and a 52 week high of $33.33. The firm has a market capitalization of $2.35 billion, a P/E ratio of -5.91 and a beta of 1.43. The company has a 50-day moving average price of $21.07 and a 200-day moving average price of $24.46.

Denali Therapeutics (NASDAQ:DNLI) last released its earnings results on Thursday, February 27th. The company reported ($0.67) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.75) by $0.08. As a group, equities research analysts anticipate that Denali Therapeutics will post -2.71 EPS for the current year.

Insider Activity

In other news, Director Steve E. Krognes sold 3,339 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $20.81, for a total transaction of $69,484.59. Following the completion of the transaction, the director now directly owns 25,757 shares in the company, valued at approximately $536,003.17. This represents a 11.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Vicki L. Sato sold 3,080 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $20.91, for a total value of $64,402.80. Following the transaction, the director now owns 107,976 shares of the company’s stock, valued at $2,257,778.16. This represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,940 shares of company stock worth $973,442. 7.90% of the stock is currently owned by insiders.

Institutional Trading of Denali Therapeutics

Institutional investors have recently bought and sold shares of the stock. Sterling Capital Management LLC lifted its position in Denali Therapeutics by 589.9% in the fourth quarter. Sterling Capital Management LLC now owns 1,773 shares of the company’s stock worth $36,000 after buying an additional 1,516 shares during the last quarter. Quest Partners LLC bought a new stake in Denali Therapeutics in the third quarter worth $73,000. GF Fund Management CO. LTD. bought a new stake in Denali Therapeutics in the fourth quarter worth $62,000. Point72 Hong Kong Ltd bought a new stake in Denali Therapeutics in the fourth quarter worth $65,000. Finally, PNC Financial Services Group Inc. lifted its position in Denali Therapeutics by 30.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,790 shares of the company’s stock worth $77,000 after buying an additional 885 shares during the last quarter. 92.92% of the stock is currently owned by institutional investors.

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.