Denali Therapeutics (NASDAQ:DNLI) Price Target Cut to $37.00 by Analysts at Morgan Stanley

Denali Therapeutics (NASDAQ:DNLI) had its price target reduced by investment analysts at Morgan Stanley from $42.00 to $37.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley‘s price target would indicate a potential upside of 97.28% from the company’s current price.

Several other equities research analysts also recently issued reports on DNLI. HC Wainwright started coverage on Denali Therapeutics in a research report on Wednesday, November 4th. They set a “strong-buy” rating for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Denali Therapeutics in a report on Thursday, October 15th. Robert W. Baird set a $34.00 price target on shares of Denali Therapeutics in a research report on Friday, August 7th. BTIG Research reissued a “buy” rating and issued a $39.00 price target on shares of Denali Therapeutics in a research report on Wednesday, November 4th. Finally, Wedbush raised their price target on shares of Denali Therapeutics from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.71.

Denali Therapeutics Trading Down 0.7%

Shares of Denali Therapeutics stock traded down $0.14 during trading on Friday, hitting $18.75. The stock had a trading volume of 237,314 shares, compared to its average volume of 1,720,511. Denali Therapeutics has a 1 year low of $15.34 and a 1 year high of $27.30. The stock has a 50 day simple moving average of $19.86 and a 200 day simple moving average of $21.27. The company has a quick ratio of 5.94, a current ratio of 6.21 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $3.01 billion, a PE ratio of -10.84 and a beta of 1.08.

Denali Therapeutics (NASDAQ:DNLI) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.64. The firm had revenue of $17.78 million for the quarter, compared to analysts’ expectations of $12.67 million. During the same quarter in the previous year, the firm posted ($0.74) earnings per share. On average, research analysts expect that Denali Therapeutics will post -2.62 EPS for the current fiscal year.

Insider Buying and Selling

In other Denali Therapeutics news, insider Alexander O. Schuth sold 2,768 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $23.44, for a total value of $64,881.92. Following the transaction, the insider directly owned 278,995 shares of the company’s stock, valued at $6,539,642.80. This represents a 0.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Denali Therapeutics

Several institutional investors have recently made changes to their positions in DNLI. Global Retirement Partners LLC grew its stake in shares of Denali Therapeutics by 65.9% in the 3rd quarter. Global Retirement Partners LLC now owns 1,830 shares of the company’s stock valued at $38,000 after buying an additional 727 shares in the last quarter. Aberdeen Group plc raised its position in Denali Therapeutics by 13.0% during the third quarter. Aberdeen Group plc now owns 1,520,605 shares of the company’s stock valued at $31,431,000 after acquiring an additional 175,124 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Denali Therapeutics by 1.9% in the third quarter. Fisher Asset Management LLC now owns 2,460,545 shares of the company’s stock valued at $50,859,000 after acquiring an additional 46,383 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Denali Therapeutics by 19.5% in the third quarter. Russell Investments Group Ltd. now owns 102,813 shares of the company’s stock valued at $2,125,000 after acquiring an additional 16,781 shares during the last quarter. Finally, Pier 88 Investment Partners LLC lifted its stake in Denali Therapeutics by 27.6% in the third quarter. Pier 88 Investment Partners LLC now owns 16,200 shares of the company’s stock valued at $335,000 after acquiring an additional 3,500 shares during the last quarter. 92.92% of the stock is currently owned by institutional investors and hedge funds.

About Denali Therapeutics

Denali Therapeutics is a biotechnology company focused on developing medicines for neurodegenerative diseases and other disorders involving the nervous system. Founded in 2015, the company is headquartered in South San Francisco, California. Its research and development programs target conditions including Alzheimer’s disease, Parkinson’s disease, amyotrophic lateral sclerosis and lysosomal storage disorders. Denali’s portfolio includes investigational drug candidates that aim to address underlying disease processes, as well as its TransportVehicle platform, designed to help therapeutic molecules cross the blood-brain barrier.