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

Shares of Denali Therapeutics Inc. (NASDAQ:DNLI) reached a new 52-week high during trading on Tuesday . The stock traded as high as $26.19 and last traded at $25.89, with a volume of 2176762 shares traded. The stock had previously closed at $25.57.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. UBS Group restated a “buy” rating on shares of Denali Therapeutics in a report on Tuesday, June 16th. Sanford C. Bernstein reiterated a “hold” rating on shares of Denali Therapeutics in a research report on Monday, June 22nd. Leerink Partners decreased their price target on Denali Therapeutics from $40.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 22nd. The Goldman Sachs Group lifted their price target on Denali Therapeutics from $35.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, March 26th. Finally, Robert W. Baird upped their price objective on shares of Denali Therapeutics from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $34.25.

Denali Therapeutics Trading Up 1.0%

The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of -9.02 and a beta of 0.96. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.28 and a current ratio of 9.28. The business has a fifty day moving average price of $20.89 and a 200 day moving average price of $19.93.

Denali Therapeutics (NASDAQ:DNLI) last issued its earnings results 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 period last year, the firm posted ($0.78) earnings per share. As a group, equities analysts forecast that Denali Therapeutics Inc. will post -2.77 earnings per share for the current year.

Institutional Trading of Denali Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Denali Therapeutics by 4.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 88,507 shares of the company’s stock worth $1,210,000 after buying an additional 3,432 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Denali Therapeutics by 58.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,672,078 shares of the company’s stock worth $22,732,000 after acquiring an additional 614,555 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Denali Therapeutics by 11.0% in the 1st quarter. Empowered Funds LLC now owns 20,639 shares of the company’s stock valued at $281,000 after acquiring an additional 2,052 shares during the period. Woodline Partners LP lifted its holdings in shares of Denali Therapeutics by 13.5% during the 1st quarter. Woodline Partners LP now owns 113,517 shares of the company’s stock valued at $1,543,000 after acquiring an additional 13,517 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Denali Therapeutics by 1.7% during 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 in the last quarter. Institutional investors and hedge funds own 92.92% of the company’s stock.

About Denali Therapeutics

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.