Bank of America Cuts Denali Therapeutics (NASDAQ:DNLI) Price Target to $28.00

Denali Therapeutics (NASDAQ:DNLI) had its price target decreased by Bank of America from $30.00 to $28.00 in a research note issued to investors on Monday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

Several other equities analysts also recently weighed in on the company. Baird R W upgraded Denali Therapeutics to a “strong-buy” rating in a research report on Tuesday, January 7th. Robert W. Baird started coverage on shares of Denali Therapeutics in a research report on Tuesday, January 7th. They issued an “outperform” rating and a $31.00 price objective for the company. Oppenheimer cut their target price on shares of Denali Therapeutics from $50.00 to $42.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. HC Wainwright lifted their price target on shares of Denali Therapeutics from $80.00 to $87.00 and gave the company a “buy” rating in a report on Friday, February 28th. Finally, Stifel Nicolaus raised shares of Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a report on Monday, December 16th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.20.

Denali Therapeutics Stock Up 6.1 %

Shares of NASDAQ:DNLI opened at $15.95 on Monday. The company has a 50-day moving average price of $20.59 and a 200 day moving average price of $24.17. Denali Therapeutics has a 52 week low of $14.01 and a 52 week high of $33.33. The company has a market cap of $2.32 billion, a P/E ratio of -5.78 and a beta of 1.46.

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

Insider Transactions at Denali Therapeutics

In other news, Director Steve E. Krognes sold 3,339 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $20.81, for a total value of $69,484.59. Following the completion of the sale, the director now owns 25,757 shares of the company’s stock, valued at $536,003.17. This trade represents a 11.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Vicki L. Sato sold 3,080 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $20.91, for a total value of $64,402.80. Following the sale, the director now owns 107,976 shares of the company’s stock, valued at $2,257,778.16. The trade was a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,940 shares of company stock valued at $973,442 over the last three months. Company insiders own 7.90% of the company’s stock.

Institutional Investors Weigh In On Denali Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC lifted its stake in Denali Therapeutics by 589.9% in the fourth quarter. Sterling Capital Management LLC now owns 1,773 shares of the company’s stock valued at $36,000 after acquiring an additional 1,516 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in Denali Therapeutics during the 4th quarter valued at $62,000. Point72 Hong Kong Ltd bought a new stake in shares of Denali Therapeutics in the 4th quarter worth approximately $65,000. Quest Partners LLC acquired a new stake in Denali Therapeutics during the third quarter worth $73,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of Denali Therapeutics by 30.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,790 shares of the company’s stock valued at $77,000 after acquiring an additional 885 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 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.