Analysts Set Denali Therapeutics Inc. (NASDAQ:DNLI) PT at $40.22

Denali Therapeutics Inc. (NASDAQ:DNLI) has been assigned an average rating of “Moderate Buy” from the nine ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $40.22.

A number of brokerages have recently weighed in on DNLI. Stifel Nicolaus reduced their price target on shares of Denali Therapeutics from $26.00 to $22.00 and set a “hold” rating on the stock in a research report on Wednesday, May 8th. Wedbush reduced their price target on shares of Denali Therapeutics from $31.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 8th. UBS Group reduced 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. Finally, HC Wainwright reissued a “buy” rating and set a $95.00 price target on shares of Denali Therapeutics in a research report on Wednesday, May 8th.

Denali Therapeutics Stock Performance

DNLI opened at $23.22 on Monday. The company has a fifty day moving average price of $19.46 and a two-hundred day moving average price of $19.30. Denali Therapeutics has a 52 week low of $14.56 and a 52 week high of $30.79. The firm has a market capitalization of $3.31 billion, a PE ratio of -24.19 and a beta of 1.37.

Denali Therapeutics (NASDAQ:DNLI) last released its earnings results on Tuesday, May 7th. The company reported ($0.68) EPS for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.01. Denali Therapeutics had a negative net margin of 36.51% and a negative return on equity of 11.46%. During the same quarter last year, the firm posted ($0.80) earnings per share. Equities analysts forecast that Denali Therapeutics will post -2.78 EPS for the current year.

Insider Activity at Denali Therapeutics

In related news, Director Steve E. Krognes sold 92,500 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $20.50, for a total value of $1,896,250.00. Following the sale, the director now directly owns 47,341 shares of the company’s stock, valued at approximately $970,490.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Denali Therapeutics news, Director Vicki L. Sato sold 1,666 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $18.29, for a total transaction of $30,471.14. Following the sale, the director now directly owns 118,043 shares of the company’s stock, valued at approximately $2,159,006.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steve E. Krognes sold 92,500 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $20.50, for a total transaction of $1,896,250.00. Following the sale, the director now directly owns 47,341 shares in the company, valued at $970,490.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 95,624 shares of company stock valued at $1,958,403. 7.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Denali Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Denali Therapeutics by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 10,968,293 shares of the company’s stock worth $225,069,000 after buying an additional 133,810 shares in the last quarter. Wellington Management Group LLP increased its stake 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 worth $150,371,000 after purchasing an additional 250,784 shares during the last quarter. Capital Research Global Investors increased its stake in shares of Denali Therapeutics by 107.9% during the 1st quarter. Capital Research Global Investors now owns 6,049,957 shares of the company’s stock worth $124,145,000 after purchasing an additional 3,140,429 shares during the last quarter. Baker BROS. Advisors LP increased its stake in shares of Denali Therapeutics by 43.1% during the 1st quarter. Baker BROS. Advisors LP now owns 3,731,695 shares of the company’s stock worth $76,574,000 after purchasing an additional 1,124,499 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Denali Therapeutics during the 4th quarter worth about $24,736,000. 92.92% of the stock is owned by institutional investors.

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.