Brokerages Set Denali Therapeutics Inc. (NASDAQ:DNLI) PT at $38.90

Shares of Denali Therapeutics Inc. (NASDAQ:DNLI) have been given a consensus rating of “Moderate Buy” by the eleven ratings firms that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $38.90.

Several research firms recently commented on DNLI. Bank of America boosted their price target on Denali Therapeutics from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. HC Wainwright reissued a “buy” rating and set a $90.00 price target on shares of Denali Therapeutics in a research report on Thursday, November 7th. Wedbush dropped their price objective on Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Raymond James restated a “market perform” rating on shares of Denali Therapeutics in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. dropped their price objective on Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating on the stock in a report on Friday, October 11th.

Insider Activity

In other news, insider Alexander O. Schuth sold 15,558 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $29.91, for a total value of $465,339.78. Following the completion of the sale, the insider now directly owns 178,066 shares in the company, valued at approximately $5,325,954.06. The trade was a 8.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan J. Watts sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $27.69, for a total value of $1,107,600.00. Following the transaction, the chief executive officer now owns 235,807 shares of the company’s stock, valued at $6,529,495.83. This represents a 14.50 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,578 shares of company stock worth $2,474,440. 7.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DNLI. FMR LLC boosted its position in Denali Therapeutics by 3,234.3% during the 3rd quarter. FMR LLC now owns 7,831,378 shares of the company’s stock valued at $228,128,000 after purchasing an additional 7,596,508 shares during the period. Capital Research Global Investors boosted its position in Denali Therapeutics by 107.9% during the 1st 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Denali Therapeutics by 63.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,749,486 shares of the company’s stock valued at $109,223,000 after purchasing an additional 1,451,770 shares during the period. Baker BROS. Advisors LP boosted its position in 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 acquiring an additional 1,124,499 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in Denali Therapeutics during the 2nd quarter worth $24,454,000. Institutional investors and hedge funds own 92.92% of the company’s stock.

Denali Therapeutics Stock Performance

Denali Therapeutics stock opened at $25.16 on Thursday. The stock’s 50 day moving average price is $27.64 and its 200 day moving average price is $24.42. The firm has a market capitalization of $3.62 billion, a PE ratio of -9.12 and a beta of 1.40. Denali Therapeutics has a one year low of $14.56 and a one year high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.03). During the same period in the previous year, the business earned ($0.72) earnings per share. On average, analysts forecast that Denali Therapeutics will post -2.69 earnings per share for the current fiscal year.

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.