HC Wainwright Lowers Denali Therapeutics (NASDAQ:DNLI) Price Target to $90.00

Denali Therapeutics (NASDAQ:DNLI) had its target price dropped by research analysts at HC Wainwright from $95.00 to $90.00 in a research note issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 315.32% from the stock’s current price.

Several other brokerages have also recently commented on DNLI. Stifel Nicolaus decreased 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 note on Wednesday, May 8th. Citigroup raised their price target on shares of Denali Therapeutics from $26.00 to $32.00 and gave the stock a “buy” rating in a report on Friday. JPMorgan Chase & Co. raised their price objective on shares of Denali Therapeutics from $28.00 to $29.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Wedbush cut their price objective on Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating for the company in a research note on Friday. Finally, UBS Group cut their target price on Denali Therapeutics from $70.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday, April 9th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Denali Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $39.33.

Denali Therapeutics Stock Down 0.9 %

DNLI traded down $0.20 during mid-day trading on Monday, reaching $21.67. 932,631 shares of the company traded hands, compared to its average volume of 1,176,806. Denali Therapeutics has a 52-week low of $14.56 and a 52-week high of $28.31. The stock has a market capitalization of $3.09 billion, a P/E ratio of -22.46 and a beta of 1.40. The company’s fifty day moving average price is $21.85 and its 200-day moving average price is $19.64.

Denali Therapeutics (NASDAQ:DNLI) last announced its earnings results on Thursday, August 1st. The company reported ($0.59) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.09. The business had revenue of $1.00 million for the quarter, compared to the consensus estimate of $10.00 million. The business’s quarterly revenue was down 99.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.30 earnings per share. As a group, sell-side analysts forecast that Denali Therapeutics will post -2.77 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Jennifer E. Cook sold 1,458 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $21.73, for a total transaction of $31,682.34. Following the sale, the director now directly owns 20,038 shares of the company’s stock, valued at $435,425.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Steve E. Krognes sold 30,000 shares of Denali Therapeutics stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $22.12, for a total value of $663,600.00. Following the sale, the director now directly owns 34,404 shares in the company, valued at $761,016.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jennifer E. Cook sold 1,458 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $21.73, for a total transaction of $31,682.34. Following the transaction, the director now owns 20,038 shares of the company’s stock, valued at approximately $435,425.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,146 shares of company stock worth $710,274. Corporate insiders own 7.90% of the company’s stock.

Institutional Investors Weigh In On Denali Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital Research Global Investors boosted its position in Denali Therapeutics by 107.9% during the first quarter. Capital Research Global Investors now owns 6,049,957 shares of the company’s stock valued at $124,145,000 after purchasing an additional 3,140,429 shares during the last quarter. Norges Bank acquired a new stake in shares of Denali Therapeutics during the 4th quarter worth $24,736,000. Baker BROS. Advisors LP increased its position in shares of Denali Therapeutics by 43.1% in the first 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 period. Braidwell LP acquired a new position in Denali Therapeutics in the fourth quarter valued at about $9,910,000. Finally, Principal Financial Group Inc. lifted its position in Denali Therapeutics by 57.9% during the fourth quarter. Principal Financial Group Inc. now owns 1,073,704 shares of the company’s stock worth $23,042,000 after purchasing an additional 393,626 shares during the period. 92.92% of the stock is currently owned by institutional investors and hedge funds.

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.