Denali Therapeutics (NASDAQ:DNLI) Announces Earnings Results

Denali Therapeutics (NASDAQ:DNLI) issued its earnings results on Thursday. The company reported ($0.74) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.02, Zacks reports. During the same quarter in the previous year, the business earned ($0.63) EPS. The business’s revenue was up .0% on a year-over-year basis.

Denali Therapeutics Price Performance

Denali Therapeutics stock traded up $0.61 during mid-day trading on Friday, hitting $15.02. 2,056,291 shares of the company were exchanged, compared to its average volume of 1,513,071. Denali Therapeutics has a 12-month low of $10.57 and a 12-month high of $33.33. The company has a market capitalization of $2.20 billion, a P/E ratio of -5.16 and a beta of 1.39. The business’s 50 day simple moving average is $15.08 and its two-hundred day simple moving average is $14.68. The company has a debt-to-equity ratio of 0.01, a current ratio of 10.27 and a quick ratio of 10.27.

Analyst Ratings Changes

Several analysts recently commented on the stock. Morgan Stanley reduced their price objective on shares of Denali Therapeutics from $33.00 to $30.00 and set an “overweight” rating for the company in a research note on Monday, August 18th. TD Cowen raised Denali Therapeutics to a “strong-buy” rating in a research note on Monday, July 28th. Cantor Fitzgerald restated an “overweight” rating on shares of Denali Therapeutics in a report on Monday, September 8th. JPMorgan Chase & Co. lifted their price objective on Denali Therapeutics from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Denali Therapeutics in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $32.64.

Insiders Place Their Bets

In related news, insider Alexander O. Schuth sold 2,937 shares of Denali Therapeutics stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $13.58, for a total transaction of $39,884.46. Following the completion of the sale, the insider owned 242,346 shares in the company, valued at approximately $3,291,058.68. This trade represents a 1.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Carole Ho sold 2,937 shares of the company’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $13.58, for a total transaction of $39,884.46. Following the completion of the transaction, the insider owned 217,391 shares in the company, valued at approximately $2,952,169.78. This trade represents a 1.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 6,680 shares of company stock worth $91,569. Corporate insiders own 12.50% of the company’s stock.

Institutional Trading of Denali Therapeutics

Hedge funds have recently bought and sold shares of the company. E Fund Management Co. Ltd. raised its holdings in Denali Therapeutics by 12.8% in the 2nd quarter. E Fund Management Co. Ltd. now owns 13,612 shares of the company’s stock valued at $190,000 after acquiring an additional 1,543 shares during the last quarter. California State Teachers Retirement System grew its position in shares of Denali Therapeutics by 1.5% in the second quarter. California State Teachers Retirement System now owns 119,327 shares of the company’s stock valued at $1,669,000 after purchasing an additional 1,792 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Denali Therapeutics in the second quarter valued at $26,000. Empowered Funds LLC increased its stake in Denali Therapeutics by 11.0% in the first quarter. Empowered Funds LLC now owns 20,639 shares of the company’s stock valued at $281,000 after purchasing an additional 2,052 shares during the last quarter. Finally, State of Wyoming purchased a new position in Denali Therapeutics during the second quarter worth about $29,000. Institutional investors and hedge funds 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.