Denali Therapeutics (NASDAQ:DNLI) Price Target Lowered to $28.00 at Bank of America

Denali Therapeutics (NASDAQ:DNLI) had its target price lowered by Bank of America from $30.00 to $28.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts also recently issued reports about the stock. William Blair reiterated an “outperform” rating on shares of Denali Therapeutics in a research note on Friday, February 28th. Stifel Nicolaus raised Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Monday, December 16th. B. Riley reaffirmed a “buy” rating and issued a $35.00 target price (down previously from $38.00) on shares of Denali Therapeutics in a report on Wednesday, March 5th. Robert W. Baird started coverage on shares of Denali Therapeutics in a research note on Tuesday, January 7th. They set an “outperform” rating and a $31.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Denali Therapeutics in a report on Tuesday, February 11th. They set a “buy” rating and a $31.00 price target on the stock. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.20.

Denali Therapeutics Stock Performance

Shares of Denali Therapeutics stock opened at $15.95 on Monday. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of -5.78 and a beta of 1.46. The firm has a fifty day moving average of $20.59 and a two-hundred day moving average of $24.17. Denali Therapeutics has a 52 week low of $14.01 and a 52 week high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.67) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.08. As a group, research analysts forecast that Denali Therapeutics will post -2.71 EPS for the current fiscal year.

Insider Buying and Selling at Denali Therapeutics

In related news, Director Steve E. Krognes sold 3,339 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $20.81, for a total transaction of $69,484.59. Following the completion of the sale, the director now owns 25,757 shares in the company, valued at approximately $536,003.17. This trade represents a 11.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Vicki L. Sato sold 3,080 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $20.91, for a total value of $64,402.80. Following the transaction, the director now directly owns 107,976 shares in the company, valued at $2,257,778.16. This represents a 2.77 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,940 shares of company stock valued at $973,442. Company insiders own 7.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Polar Asset Management Partners Inc. boosted its position in shares of Denali Therapeutics by 1,240.9% in the fourth quarter. Polar Asset Management Partners Inc. now owns 551,092 shares of the company’s stock valued at $11,231,000 after acquiring an additional 509,992 shares during the period. GF Fund Management CO. LTD. bought a new position in shares of Denali Therapeutics during the fourth quarter valued at about $62,000. Woodline Partners LP purchased a new position in shares of Denali Therapeutics in the fourth quarter worth $2,038,000. Squarepoint Ops LLC boosted its holdings in shares of Denali Therapeutics by 44.2% during the fourth quarter. Squarepoint Ops LLC now owns 48,619 shares of the company’s stock worth $991,000 after purchasing an additional 14,896 shares during the period. Finally, Twinbeech Capital LP purchased a new position in shares of Denali Therapeutics during the fourth quarter valued at approximately $5,188,000. 92.92% of the stock is currently owned by hedge funds and other institutional investors.

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.