The Goldman Sachs Group Has Lowered Expectations for Denali Therapeutics (NASDAQ:DNLI) Stock Price

Denali Therapeutics (NASDAQ:DNLI) had its price objective reduced by analysts at The Goldman Sachs Group from $45.00 to $40.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential upside of 70.87% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. cut their price objective on shares of Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Cantor Fitzgerald lowered shares of Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, October 7th. Robert W. Baird initiated coverage on shares of Denali Therapeutics in a research note on Tuesday, January 7th. They issued an “outperform” rating and a $31.00 price objective for the company. Stifel Nicolaus upgraded Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research report on Monday, December 16th. Finally, HC Wainwright decreased their target price on Denali Therapeutics from $90.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.00.

Denali Therapeutics Price Performance

NASDAQ:DNLI opened at $23.41 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 $3.37 billion, a PE ratio of -8.48 and a beta of 1.39. The business’s fifty day moving average price is $22.46 and its 200 day moving average price is $24.84.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.03). During the same quarter last year, the firm posted ($0.72) earnings per share. As a group, equities analysts anticipate that Denali Therapeutics will post -2.73 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Ryan J. Watts sold 29,266 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $20.22, for a total transaction of $591,758.52. Following the completion of the sale, the chief executive officer now owns 260,721 shares in the company, valued at $5,271,778.62. This represents a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Alexander O. Schuth sold 15,558 shares of Denali Therapeutics stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $29.91, for a total transaction of $465,339.78. Following the completion of the transaction, the insider now owns 178,066 shares in the company, valued at approximately $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. In the last ninety days, insiders sold 64,518 shares of company stock valued at $1,469,382. 7.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in Denali Therapeutics by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,417,472 shares of the company’s stock valued at $32,913,000 after purchasing an additional 84,522 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Denali Therapeutics by 87.8% in the 2nd quarter. Sei Investments Co. now owns 22,670 shares of the company’s stock valued at $526,000 after buying an additional 10,598 shares during the period. Squarepoint Ops LLC boosted its stake in shares of Denali Therapeutics by 90.6% in the second quarter. Squarepoint Ops LLC now owns 123,680 shares of the company’s stock valued at $2,872,000 after buying an additional 58,806 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Denali Therapeutics by 58.7% in the second quarter. Millennium Management LLC now owns 619,929 shares of the company’s stock valued at $14,395,000 after buying an additional 229,313 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Denali Therapeutics by 15.5% during the second quarter. The Manufacturers Life Insurance Company now owns 172,281 shares of the company’s stock worth $4,000,000 after acquiring an additional 23,165 shares during the period. 92.92% of the stock is currently owned by institutional investors and hedge funds.

Denali Therapeutics Company Profile

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.