Analysts Set Denali Therapeutics Inc. (NASDAQ:DNLI) Price Target at $38.90

Shares of Denali Therapeutics Inc. (NASDAQ:DNLI) have received a consensus rating of “Moderate Buy” from the eleven research firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $40.40.

DNLI has been the subject of several research reports. Bank of America raised their price objective on Denali Therapeutics from $25.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Jefferies Financial Group increased their price target on shares of Denali Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Raymond James restated a “market perform” rating on shares of Denali Therapeutics in a report on Thursday, October 10th. Stifel Nicolaus raised 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. Finally, Cantor Fitzgerald lowered Denali Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, October 7th.

Denali Therapeutics Trading Down 7.7 %

Shares of DNLI opened at $21.43 on Monday. Denali Therapeutics has a 52 week low of $14.56 and a 52 week high of $33.33. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of -7.76 and a beta of 1.35. The stock has a 50 day moving average of $26.14 and a 200-day moving average of $24.92.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.03). During the same quarter in the prior year, the business posted ($0.72) EPS. On average, sell-side analysts predict that Denali Therapeutics will post -2.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Denali Therapeutics

In other news, CEO Ryan J. Watts sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $27.69, for a total value of $1,107,600.00. Following the sale, the chief executive officer now directly owns 235,807 shares in the company, valued at approximately $6,529,495.83. This represents a 14.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Alexander O. Schuth sold 15,558 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $29.91, for a total value of $465,339.78. Following the completion of the sale, the insider now owns 178,066 shares in the company, valued at $5,325,954.06. This trade represents a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 86,578 shares of company stock valued at $2,474,440 in the last quarter. Corporate insiders own 7.90% of the company’s stock.

Institutional Investors Weigh In On Denali Therapeutics

Several large investors have recently made changes to their positions in DNLI. Victory Capital Management Inc. grew its stake in Denali Therapeutics by 163.7% during the third quarter. Victory Capital Management Inc. now owns 39,900 shares of the company’s stock worth $1,162,000 after buying an additional 24,767 shares during the last quarter. Candriam S.C.A. increased its holdings in Denali Therapeutics by 62.2% during the 2nd quarter. Candriam S.C.A. now owns 726,499 shares of the company’s stock valued at $16,869,000 after purchasing an additional 278,621 shares in the last quarter. FMR LLC raised its position in Denali Therapeutics by 3,234.3% in the 3rd quarter. FMR LLC now owns 7,831,378 shares of the company’s stock valued at $228,128,000 after purchasing an additional 7,596,508 shares during the last quarter. Integral Health Asset Management LLC bought a new stake in shares of Denali Therapeutics during the second quarter worth $7,546,000. Finally, Algert Global LLC raised its holdings in shares of Denali Therapeutics by 82.4% in the third quarter. Algert Global LLC now owns 48,630 shares of the company’s stock valued at $1,417,000 after buying an additional 21,975 shares during the last quarter. Institutional investors own 92.92% of the company’s stock.

About Denali Therapeutics

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.