Bank of America Raises Denali Therapeutics (NASDAQ:DNLI) Price Target to $29.00

Denali Therapeutics (NASDAQ:DNLI) had its target price boosted by Bank of America from $25.00 to $29.00 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts also recently issued reports about the company. Citigroup increased their price target on Denali Therapeutics from $26.00 to $32.00 and gave the stock a buy rating in a report on Friday, August 2nd. Stifel Nicolaus dropped their target price 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. JPMorgan Chase & Co. upped their price objective on Denali Therapeutics from $28.00 to $29.00 and gave the company an overweight rating in a research note on Wednesday, July 10th. HC Wainwright reaffirmed a buy rating and issued a $90.00 price target on shares of Denali Therapeutics in a report on Wednesday. Finally, Wedbush dropped 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, August 2nd. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Denali Therapeutics presently has an average rating of Moderate Buy and a consensus price target of $38.33.

Denali Therapeutics Price Performance

Shares of NASDAQ:DNLI opened at $25.25 on Wednesday. The company’s 50 day simple moving average is $23.26 and its 200 day simple moving average is $20.77. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of -26.30 and a beta of 1.40. Denali Therapeutics has a 1 year low of $14.56 and a 1 year high of $25.90.

Denali Therapeutics (NASDAQ:DNLI) last posted its earnings results on Thursday, August 1st. The company reported ($0.59) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.09. The company had revenue of $1.00 million for the quarter, compared to the consensus estimate of $10.00 million. During the same period in the previous year, the firm posted $1.30 EPS. The business’s quarterly revenue was down 99.7% compared to the same quarter last year. As a group, analysts anticipate that Denali Therapeutics will post -2.54 EPS for the current fiscal year.

Insider Activity

In related news, Director Steve E. Krognes sold 30,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $22.12, for a total transaction of $663,600.00. Following the completion of the sale, the director now directly owns 34,404 shares in the company, valued at approximately $761,016.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DNLI. Capital Research Global Investors lifted its stake in Denali Therapeutics by 107.9% in the first quarter. Capital Research Global Investors now owns 6,049,957 shares of the company’s stock worth $124,145,000 after acquiring an additional 3,140,429 shares during the period. Norges Bank bought a new stake in Denali Therapeutics during the fourth quarter worth about $24,736,000. Baker BROS. Advisors LP grew its stake in shares of Denali Therapeutics by 43.1% in the 1st quarter. Baker BROS. Advisors LP now owns 3,731,695 shares of the company’s stock worth $76,574,000 after buying an additional 1,124,499 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Denali Therapeutics in the second quarter worth $24,454,000. Finally, Braidwell LP purchased a new stake in Denali Therapeutics during the 4th quarter valued at about $9,910,000. Hedge funds and other institutional investors own 92.92% of the company’s stock.

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.