Denali Therapeutics Inc. (NASDAQ:DNLI) Receives $32.20 Average Price Target from Brokerages

Shares of Denali Therapeutics Inc. (NASDAQ:DNLI) have earned an average recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, ten have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $32.20.

A number of equities research analysts have issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Denali Therapeutics in a report on Wednesday, January 21st. Wedbush cut their price target on Denali Therapeutics from $31.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, December 11th. BTIG Research lifted their price target on Denali Therapeutics from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. UBS Group initiated coverage on Denali Therapeutics in a research note on Wednesday, January 7th. They set a “buy” rating on the stock. Finally, Jefferies Financial Group reissued a “buy” rating and set a $40.00 price objective on shares of Denali Therapeutics in a report on Monday, March 2nd.

Denali Therapeutics Trading Down 0.6%

Shares of DNLI opened at $20.57 on Wednesday. Denali Therapeutics has a fifty-two week low of $10.57 and a fifty-two week high of $23.77. The business has a 50-day moving average of $19.87 and a 200 day moving average of $17.48. The firm has a market cap of $3.26 billion, a P/E ratio of -6.93 and a beta of 1.02. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.16 and a current ratio of 9.16.

Denali Therapeutics (NASDAQ:DNLI) last issued its earnings results on Thursday, February 26th. The company reported ($0.73) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.02. During the same quarter in the prior year, the business posted ($0.67) EPS. As a group, research analysts forecast that Denali Therapeutics will post -2.71 EPS for the current year.

Insider Activity at Denali Therapeutics

In related news, CEO Ryan J. Watts sold 35,198 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $16.50, for a total transaction of $580,767.00. Following the completion of the transaction, the chief executive officer owned 296,833 shares of the company’s stock, valued at approximately $4,897,744.50. The trade was a 10.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander O. Schuth sold 17,218 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $16.50, for a total transaction of $284,097.00. Following the sale, the insider directly owned 282,828 shares in the company, valued at $4,666,662. This trade represents a 5.74% decrease in their position. The disclosure for this sale is available in the SEC filing. 12.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Denali Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Groupama Asset Managment boosted its stake in Denali Therapeutics by 11.7% during the fourth quarter. Groupama Asset Managment now owns 151,591 shares of the company’s stock valued at $2,503,000 after buying an additional 15,833 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in shares of Denali Therapeutics by 28.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,254,132 shares of the company’s stock valued at $119,766,000 after acquiring an additional 1,615,565 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Denali Therapeutics by 17.0% in the 4th quarter. Invesco Ltd. now owns 291,936 shares of the company’s stock valued at $4,820,000 after acquiring an additional 42,469 shares in the last quarter. Vestal Point Capital LP bought a new stake in shares of Denali Therapeutics during the 4th quarter valued at about $7,677,000. Finally, Virtus Investment Advisers LLC grew its holdings in shares of Denali Therapeutics by 94.1% during the fourth quarter. Virtus Investment Advisers LLC now owns 14,795 shares of the company’s stock worth $244,000 after purchasing an additional 7,171 shares in the last quarter. Hedge funds and other institutional investors own 92.92% of the company’s stock.

Denali Therapeutics Company Profile

Denali Therapeutics is a clinical‐stage biopharmaceutical company focused on developing therapies for neurodegenerative diseases. The company’s research leverages a proprietary Blood–Brain Barrier Transport Vehicle (TV) platform designed to enable large molecules, including antibodies and enzymes, to penetrate the central nervous system. Denali’s approach includes small molecules, monoclonal antibodies and gene therapy candidates aimed at key drivers of disorders such as Alzheimer’s disease, Parkinson’s disease, amyotrophic lateral sclerosis (ALS) and frontotemporal dementia.

Among Denali’s lead programs is an orally delivered leucine‐rich repeat kinase 2 (LRRK2) inhibitor for Parkinson’s disease, and an anti‐TREM2 antibody designed to modulate microglial activity in Alzheimer’s patients.