Denali Therapeutics (NASDAQ:DNLI) Price Target Increased to $29.00 by Analysts at JPMorgan Chase & Co.

Denali Therapeutics (NASDAQ:DNLI) had its price objective upped by stock analysts at JPMorgan Chase & Co. from $28.00 to $29.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 36.86% from the company’s current price.

Several other equities research analysts also recently issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $95.00 price objective on shares of Denali Therapeutics in a research report on Wednesday, May 8th. Stifel Nicolaus lowered their price objective on shares of Denali Therapeutics from $26.00 to $22.00 and set a “hold” rating for the company in a research report on Wednesday, May 8th. Wedbush decreased their target price on shares of Denali Therapeutics from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, May 8th. Finally, UBS Group decreased their target price on shares of Denali Therapeutics from $70.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, April 9th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Denali Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $40.33.

Denali Therapeutics Price Performance

DNLI traded up $0.23 during mid-day trading on Wednesday, hitting $21.19. The stock had a trading volume of 1,738,826 shares, compared to its average volume of 1,191,583. The stock’s fifty day simple moving average is $20.27 and its 200-day simple moving average is $19.25. Denali Therapeutics has a 1-year low of $14.56 and a 1-year high of $30.79. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of -22.03 and a beta of 1.40.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.68) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.01. During the same quarter in the prior year, the company posted ($0.80) EPS. As a group, research analysts expect that Denali Therapeutics will post -2.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Denali Therapeutics news, Director Jennifer E. Cook sold 1,458 shares of Denali Therapeutics stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $21.73, for a total value of $31,682.34. Following the completion of the sale, the director now owns 20,038 shares in the company, valued at approximately $435,425.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Denali Therapeutics news, Director Jennifer E. Cook sold 1,458 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $21.73, for a total value of $31,682.34. Following the transaction, the director now directly owns 20,038 shares of the company’s stock, valued at approximately $435,425.74. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Steve E. Krognes sold 30,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 34,404 shares in the company, valued at $761,016.48. The disclosure for this sale can be found here. Insiders sold 33,812 shares of company stock worth $740,745 in the last quarter. 7.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Denali Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in DNLI. Capital Research Global Investors grew its holdings 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 valued at $124,145,000 after purchasing an additional 3,140,429 shares during the last quarter. Norges Bank acquired a new position in shares of Denali Therapeutics in the 4th quarter worth approximately $24,736,000. Baker BROS. Advisors LP lifted its position 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 purchasing an additional 1,124,499 shares during the period. Braidwell LP acquired a new position in shares of Denali Therapeutics in the 4th quarter worth approximately $9,910,000. Finally, Principal Financial Group Inc. lifted its position in shares of Denali Therapeutics by 57.9% in the 4th 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 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.