JPMorgan Chase & Co. Lowers Denali Therapeutics (NASDAQ:DNLI) Price Target to $24.00

Denali Therapeutics (NASDAQ:DNLI) had its target price trimmed by JPMorgan Chase & Co. from $28.00 to $24.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other analysts have also weighed in on DNLI. Jefferies Financial Group upped 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. Cantor Fitzgerald downgraded Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, October 7th. Raymond James reiterated a “market perform” rating on shares of Denali Therapeutics in a research report on Thursday, October 10th. William Blair started coverage on Denali Therapeutics in a report on Friday, January 3rd. They issued an “outperform” rating for the company. Finally, Robert W. Baird began coverage on Denali Therapeutics in a report on Tuesday. They set an “outperform” rating and a $31.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.91.

Denali Therapeutics Price Performance

Shares of DNLI stock opened at $21.25 on Tuesday. Denali Therapeutics has a 12-month low of $14.56 and a 12-month high of $33.33. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of -7.70 and a beta of 1.39. The business has a 50 day simple moving average of $24.23 and a 200 day simple moving average of $24.86.

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

Insider Transactions at Denali Therapeutics

In related news, Director Vicki L. Sato sold 1,020 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $30.00, for a total value of $30,600.00. Following the completion of the sale, the director now directly owns 111,056 shares of the company’s stock, valued at approximately $3,331,680. This represents a 0.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steve E. Krognes sold 3,339 shares of Denali Therapeutics stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $20.81, for a total value of $69,484.59. Following the transaction, the director now directly owns 25,757 shares in the company, valued at approximately $536,003.17. This trade represents a 11.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 104,518 shares of company stock valued at $2,576,982 over the last ninety days. Corporate insiders own 7.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in shares of Denali Therapeutics by 3,234.3% during the 3rd quarter. FMR LLC now owns 7,831,378 shares of the company’s stock worth $228,128,000 after purchasing an additional 7,596,508 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Denali Therapeutics by 63.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,749,486 shares of the company’s stock worth $109,223,000 after buying an additional 1,451,770 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Denali Therapeutics during the second quarter valued at approximately $24,454,000. Wellington Management Group LLP lifted its stake in Denali Therapeutics by 9.2% in the third quarter. Wellington Management Group LLP now owns 10,727,450 shares of the company’s stock valued at $312,491,000 after acquiring an additional 903,683 shares during the last quarter. Finally, Integral Health Asset Management LLC bought a new stake in Denali Therapeutics in the second quarter worth approximately $7,546,000. Institutional investors and hedge funds 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.