Denali Therapeutics Inc. (NASDAQ:DNLI) Receives $41.22 Average PT from Brokerages

Denali Therapeutics Inc. (NASDAQ:DNLI) has earned a consensus rating of “Buy” from the eight ratings firms that are currently covering the company, Marketbeat reports. Eight investment analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $41.22.

DNLI has been the topic of several research reports. The Goldman Sachs Group decreased their price objective on shares of Denali Therapeutics from $73.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. UBS Group lowered their price target on shares of Denali Therapeutics from $70.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday, April 9th. Wedbush reiterated an “outperform” rating and issued a $31.00 price target on shares of Denali Therapeutics in a research report on Wednesday, February 28th. Finally, HC Wainwright dropped their price objective on Denali Therapeutics from $105.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday, February 28th.

Insider Buying and Selling at Denali Therapeutics

In other news, Director Vicki L. Sato sold 1,666 shares of Denali Therapeutics stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $18.37, for a total transaction of $30,604.42. Following the completion of the transaction, the director now directly owns 121,375 shares in the company, valued at $2,229,658.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Denali Therapeutics news, CEO Ryan J. Watts sold 9,589 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $17.29, for a total value of $165,793.81. Following the transaction, the chief executive officer now owns 238,067 shares of the company’s stock, valued at $4,116,178.43. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Vicki L. Sato sold 1,666 shares of Denali Therapeutics stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $18.37, for a total transaction of $30,604.42. Following the completion of the sale, the director now directly owns 121,375 shares in the company, valued at approximately $2,229,658.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,955 shares of company stock valued at $2,218,802. Corporate insiders own 7.90% of the company’s stock.

Institutional Investors Weigh In On Denali Therapeutics

Several large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in shares of Denali Therapeutics by 3.6% during the 3rd quarter. Wellington Management Group LLP now owns 7,288,960 shares of the company’s stock valued at $150,371,000 after buying an additional 250,784 shares in the last quarter. Gotham Asset Management LLC purchased a new stake in Denali Therapeutics during the 3rd quarter valued at about $400,000. Eventide Asset Management LLC grew its position in Denali Therapeutics by 98.4% during the 3rd quarter. Eventide Asset Management LLC now owns 621,850 shares of the company’s stock worth $12,829,000 after acquiring an additional 308,443 shares during the last quarter. abrdn plc bought a new stake in Denali Therapeutics in the fourth quarter valued at approximately $6,971,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Denali Therapeutics during the third quarter valued at approximately $772,000. Hedge funds and other institutional investors own 92.92% of the company’s stock.

Denali Therapeutics Price Performance

Shares of NASDAQ DNLI opened at $16.85 on Friday. Denali Therapeutics has a fifty-two week low of $14.56 and a fifty-two week high of $33.31. The company’s 50 day simple moving average is $18.82 and its 200 day simple moving average is $18.84. The firm has a market capitalization of $2.40 billion, a P/E ratio of -15.60 and a beta of 1.39.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.86) EPS for the quarter, missing analysts’ consensus estimates of ($0.81) by ($0.05). Denali Therapeutics had a negative return on equity of 13.50% and a negative net margin of 36.51%. During the same quarter last year, the business earned ($0.75) EPS. Sell-side analysts expect that Denali Therapeutics will post -2.61 EPS for the current fiscal year.

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.