Denali Therapeutics (NASDAQ:DNLI) Hits New 12-Month High – Here’s Why

Shares of Denali Therapeutics Inc. (NASDAQ:DNLI) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $25.31 and last traded at $24.77, with a volume of 1658265 shares traded. The stock had previously closed at $24.05.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Wedbush decreased their price objective on Denali Therapeutics from $25.00 to $23.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Stifel Nicolaus set a $41.00 target price on shares of Denali Therapeutics in a research report on Monday. Robert W. Baird increased their price target on shares of Denali Therapeutics from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Tuesday, April 7th. Sanford C. Bernstein reiterated a “hold” rating on shares of Denali Therapeutics in a research report on Monday. Finally, UBS Group restated a “buy” rating on shares of Denali Therapeutics in a research report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.25.

Denali Therapeutics Trading Down 0.4%

The stock has a market capitalization of $3.92 billion, a P/E ratio of -8.59 and a beta of 1.03. The stock’s fifty day moving average price is $20.50 and its 200 day moving average price is $19.73. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.28 and a quick ratio of 9.28.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.69) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.04. During the same quarter in the prior year, the business posted ($0.78) EPS. Research analysts forecast that Denali Therapeutics Inc. will post -2.77 earnings per share for the current year.

Institutional Trading of Denali Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of DNLI. Norges Bank bought a new position in Denali Therapeutics in the fourth quarter worth approximately $84,525,000. Holocene Advisors LP increased its holdings in Denali Therapeutics by 677.8% during the 3rd quarter. Holocene Advisors LP now owns 3,135,712 shares of the company’s stock worth $45,531,000 after purchasing an additional 2,732,540 shares during the period. ADAR1 Capital Management LLC raised its position in Denali Therapeutics by 3,490.9% during the 1st quarter. ADAR1 Capital Management LLC now owns 1,871,455 shares of the company’s stock valued at $35,932,000 after purchasing an additional 1,819,339 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Denali Therapeutics by 77.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,835,803 shares of the company’s stock valued at $63,329,000 after purchasing an additional 1,672,098 shares in the last quarter. Finally, Temasek Holdings Private Ltd lifted its holdings in shares of Denali Therapeutics by 30.9% in the 4th quarter. Temasek Holdings Private Ltd now owns 7,012,974 shares of the company’s stock worth $115,784,000 after buying an additional 1,657,142 shares during the period. 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.