Denali Therapeutics Inc. (NASDAQ:DNLI) Receives $37.20 Consensus Price Target from Brokerages

Denali Therapeutics Inc. (NASDAQ:DNLI) has earned an average rating of “Moderate Buy” from the eighteen analysts that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $37.20.

A number of research analysts recently issued reports on DNLI shares. Robert W. Baird began 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 on the stock. B. Riley reiterated a “buy” rating and issued a $35.00 price target (down previously from $38.00) on shares of Denali Therapeutics in a research note on Wednesday, March 5th. Oppenheimer lowered their price target on Denali Therapeutics from $50.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. Bank of America reduced their price objective on Denali Therapeutics from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Denali Therapeutics in a research note on Tuesday, February 11th. They set a “buy” rating and a $31.00 target price for the company.

Denali Therapeutics Stock Performance

DNLI opened at $14.78 on Wednesday. Denali Therapeutics has a 52-week low of $13.67 and a 52-week high of $33.33. The firm has a market cap of $2.15 billion, a P/E ratio of -5.36 and a beta of 1.46. The business’s fifty day moving average is $19.05 and its 200-day moving average is $23.25.

Denali Therapeutics (NASDAQ:DNLI) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.67) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.08. On average, research analysts predict that Denali Therapeutics will post -2.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Vicki L. Sato sold 3,080 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $20.91, for a total value of $64,402.80. Following the sale, the director now directly owns 107,976 shares in the company, valued at $2,257,778.16. This represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Steve E. Krognes sold 3,339 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $20.81, for a total transaction of $69,484.59. Following the sale, the director now directly owns 25,757 shares of the company’s stock, valued at $536,003.17. This represents a 11.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,940 shares of company stock valued at $973,442 over the last 90 days. 7.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Denali Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of DNLI. Polar Asset Management Partners Inc. grew its holdings in Denali Therapeutics by 1,240.9% during the 4th quarter. Polar Asset Management Partners Inc. now owns 551,092 shares of the company’s stock worth $11,231,000 after acquiring an additional 509,992 shares during the period. GF Fund Management CO. LTD. acquired a new stake in Denali Therapeutics during the fourth quarter worth approximately $62,000. Woodline Partners LP bought a new stake in Denali Therapeutics in the fourth quarter worth approximately $2,038,000. Squarepoint Ops LLC lifted its stake in Denali Therapeutics by 44.2% in the fourth quarter. Squarepoint Ops LLC now owns 48,619 shares of the company’s stock valued at $991,000 after buying an additional 14,896 shares during the period. Finally, Twinbeech Capital LP acquired a new position in Denali Therapeutics in the fourth quarter valued at approximately $5,188,000. 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.