Denali Therapeutics (NASDAQ:DNLI) Issues Earnings Results

Denali Therapeutics (NASDAQ:DNLI) posted its quarterly earnings results on Wednesday. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.03), Briefing.com reports. During the same quarter in the prior year, the firm posted ($0.72) earnings per share.

Denali Therapeutics Stock Performance

Shares of NASDAQ:DNLI traded up $1.75 during mid-day trading on Friday, hitting $31.35. 713,529 shares of the company traded hands, compared to its average volume of 697,971. The firm’s 50 day simple moving average is $27.81 and its 200 day simple moving average is $23.51. Denali Therapeutics has a 52-week low of $14.56 and a 52-week high of $32.13.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group raised their target price on shares of Denali Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Wedbush lowered their price objective on shares of Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Cantor Fitzgerald downgraded Denali Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, October 7th. Bank of America lifted their target price on Denali Therapeutics from $25.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, Raymond James restated a “market perform” rating on shares of Denali Therapeutics in a research note on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $38.90.

Insiders Place Their Bets

In other news, CEO Ryan J. Watts sold 40,000 shares of Denali Therapeutics stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $27.69, for a total transaction of $1,107,600.00. Following the sale, the chief executive officer now owns 235,807 shares in the company, valued at $6,529,495.83. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Ryan J. Watts sold 40,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $27.69, for a total transaction of $1,107,600.00. Following the completion of the sale, the chief executive officer now directly owns 235,807 shares in the company, valued at $6,529,495.83. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steve E. Krognes sold 30,000 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $29.03, for a total value of $870,900.00. Following the completion of the transaction, the director now owns 29,096 shares in the company, valued at approximately $844,656.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 7.90% of the stock is owned by company insiders.

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.