Denali Therapeutics Inc. (NASDAQ:DNLI) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Denali Therapeutics Inc. (NASDAQ:DNLI) have been assigned a consensus rating of “Moderate Buy” from the seventeen analysts that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $37.57.

DNLI has been the subject of several analyst reports. Robert W. Baird started coverage on shares of Denali Therapeutics in a research note on Tuesday, January 7th. They issued an “outperform” rating and a $31.00 target price for the company. Baird R W raised shares of Denali Therapeutics to a “strong-buy” rating in a research report on Tuesday, January 7th. JPMorgan Chase & Co. decreased their target price on shares of Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Stifel Nicolaus raised shares of Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Monday, December 16th. Finally, B. Riley reissued a “buy” rating and set a $35.00 price target (down previously from $38.00) on shares of Denali Therapeutics in a research note on Wednesday.

Insiders Place Their Bets

In other Denali Therapeutics news, CEO Ryan J. Watts sold 29,266 shares of Denali Therapeutics stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $20.22, for a total transaction of $591,758.52. Following the transaction, the chief executive officer now directly owns 260,721 shares of the company’s stock, valued at $5,271,778.62. The trade was a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Carole Ho sold 12,255 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $20.22, for a total transaction of $247,796.10. Following the completion of the sale, the insider now directly owns 178,580 shares of the company’s stock, valued at $3,610,887.60. The trade was a 6.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,940 shares of company stock worth $973,442 over the last three months. 7.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Denali Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. raised its position in Denali Therapeutics by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,178 shares of the company’s stock valued at $152,000 after purchasing an additional 920 shares during the period. Integrated Advisors Network LLC acquired a new stake in shares of Denali Therapeutics in the third quarter valued at about $283,000. VELA Investment Management LLC purchased a new stake in shares of Denali Therapeutics during the 3rd quarter valued at about $455,000. Principal Financial Group Inc. lifted its position in Denali Therapeutics by 13.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company’s stock worth $36,076,000 after acquiring an additional 149,939 shares in the last quarter. Finally, AIA Group Ltd boosted its holdings in Denali Therapeutics by 7.9% in the 3rd quarter. AIA Group Ltd now owns 74,815 shares of the company’s stock worth $2,179,000 after acquiring an additional 5,471 shares during the period. Institutional investors and hedge funds own 92.92% of the company’s stock.

Denali Therapeutics Price Performance

Shares of Denali Therapeutics stock opened at $16.30 on Friday. Denali Therapeutics has a 1 year low of $14.01 and a 1 year high of $33.33. The business has a 50 day moving average price of $21.07 and a 200 day moving average price of $24.46. The company has a market capitalization of $2.35 billion, a P/E ratio of -5.91 and a beta of 1.43.

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

About Denali Therapeutics

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.