Denali Therapeutics Inc. (NASDAQ:DNLI) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Shares of Denali Therapeutics Inc. (NASDAQ:DNLI) have received a consensus recommendation of “Moderate Buy” from the sixteen analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $35.85.

A number of analysts have recently weighed in on DNLI shares. Robert W. Baird set a $34.00 price target on shares of Denali Therapeutics in a research note on Friday, August 7th. UBS Group raised their price objective on shares of Denali Therapeutics from $25.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft boosted their target price on Denali Therapeutics from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Wedbush reaffirmed an “outperform” rating and set a $26.00 price target on shares of Denali Therapeutics in a research note on Monday, July 13th. Finally, JPMorgan Chase & Co. initiated coverage on Denali Therapeutics in a research note on Monday, July 13th. They set an “overweight” rating and a $29.00 price target for the company.

Insider Transactions at Denali Therapeutics

In related news, insider Alexander O. Schuth sold 2,857 shares of Denali Therapeutics stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $25.07, for a total transaction of $71,624.99. Following the transaction, the insider directly owned 281,763 shares of the company’s stock, valued at $7,063,798.41. The trade was a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 9.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Denali Therapeutics

Several hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Denali Therapeutics during the second quarter worth approximately $360,759,000. ADAR1 Capital Management LLC increased its stake in Denali Therapeutics by 3,490.9% in the 1st quarter. ADAR1 Capital Management LLC now owns 1,871,455 shares of the company’s stock worth $35,932,000 after purchasing an additional 1,819,339 shares in the last quarter. Bank of America Corp DE acquired a new stake in Denali Therapeutics during the 2nd quarter worth about $31,660,000. Pictet Asset Management Holding SA raised its holdings in Denali Therapeutics by 92.5% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,558,865 shares of the company’s stock worth $48,439,000 after buying an additional 1,229,757 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in Denali Therapeutics during the 2nd quarter worth about $20,583,000. Institutional investors and hedge funds own 92.92% of the company’s stock.

Denali Therapeutics Price Performance

Shares of DNLI opened at $18.66 on Thursday. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of -6.57 and a beta of 1.02. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.32 and a current ratio of 8.37. Denali Therapeutics has a one year low of $13.75 and a one year high of $27.30. The stock’s fifty day moving average is $21.09 and its 200-day moving average is $21.19.

Denali Therapeutics (NASDAQ:DNLI) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.17). The company had revenue of $3.60 million for the quarter, compared to analyst estimates of $2.15 million. During the same period in the prior year, the firm earned ($0.72) earnings per share. Equities analysts anticipate that Denali Therapeutics will post -2.70 EPS for the current year.

About Denali Therapeutics

Denali Therapeutics Inc is a biopharmaceutical company focused on discovering and developing therapies for patients with neurodegenerative diseases. The company’s research programs target conditions including Parkinson’s disease, Alzheimer’s disease, amyotrophic lateral sclerosis, and lysosomal storage disorders.

Denali uses its blood-brain barrier transport technology, known as the Transport Vehicle platform, to design medicines intended to deliver therapeutic proteins and other biologic treatments into the central nervous system.