Denali Therapeutics (NASDAQ:DNLI) Posts Earnings Results, Beats Expectations By $0.02 EPS

Denali Therapeutics (NASDAQ:DNLI) posted its earnings results on Thursday. The company reported ($0.73) EPS for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.02, FiscalAI reports. During the same period in the prior year, the company earned ($0.67) EPS.

Denali Therapeutics Stock Down 1.1%

DNLI stock traded down $0.24 during midday trading on Friday, hitting $21.18. The company’s stock had a trading volume of 1,411,622 shares, compared to its average volume of 1,637,691. The firm has a 50-day simple moving average of $19.09 and a 200-day simple moving average of $17.08. The firm has a market capitalization of $3.11 billion, a P/E ratio of -7.13 and a beta of 1.02. The company has a quick ratio of 9.79, a current ratio of 9.79 and a debt-to-equity ratio of 0.01. Denali Therapeutics has a 52-week low of $10.57 and a 52-week high of $23.77.

Analysts Set New Price Targets

DNLI has been the subject of several research analyst reports. Wolfe Research began coverage on Denali Therapeutics in a research report on Monday. They set a “peer perform” rating for the company. Stifel Nicolaus set a $37.00 target price on Denali Therapeutics in a research note on Monday, November 17th. Wedbush cut their price target on shares of Denali Therapeutics from $31.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, December 11th. Morgan Stanley reissued an “overweight” rating and issued a $40.00 price objective on shares of Denali Therapeutics in a report on Thursday, January 8th. Finally, BTIG Research reiterated a “buy” rating and issued a $32.00 price objective on shares of Denali Therapeutics in a research note on Friday, February 6th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.27.

Insider Buying and Selling

In other Denali Therapeutics 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 in the company, valued at $4,897,744.50. The trade was a 10.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alexander O. Schuth sold 17,218 shares of the company’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $16.50, for a total value of $284,097.00. Following the transaction, the insider directly owned 282,828 shares of the company’s stock, valued at approximately $4,666,662. This represents a 5.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 12.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Denali Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of DNLI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Denali Therapeutics by 4.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 88,507 shares of the company’s stock worth $1,210,000 after purchasing an additional 3,432 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Denali Therapeutics by 58.1% during the first quarter. Goldman Sachs Group Inc. now owns 1,672,078 shares of the company’s stock worth $22,732,000 after buying an additional 614,555 shares during the period. Empowered Funds LLC grew its holdings in shares of Denali Therapeutics by 11.0% during the first quarter. Empowered Funds LLC now owns 20,639 shares of the company’s stock worth $281,000 after buying an additional 2,052 shares during the last quarter. Woodline Partners LP grew its holdings in shares of Denali Therapeutics by 13.5% during the first quarter. Woodline Partners LP now owns 113,517 shares of the company’s stock worth $1,543,000 after buying an additional 13,517 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Denali Therapeutics by 1.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 191,613 shares of the company’s stock valued at $2,681,000 after acquiring an additional 3,210 shares during the period. 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.