Analysts Set Denali Therapeutics Inc. (NASDAQ:DNLI) PT at $37.20

Shares of Denali Therapeutics Inc. (NASDAQ:DNLI) have been given an average rating of “Moderate Buy” by the eighteen brokerages that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $37.20.

Several equities research analysts have recently weighed in on the stock. Bank of America lowered their price target on shares of Denali Therapeutics from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, March 10th. B. Riley restated a “buy” rating and set a $35.00 target price (down previously from $38.00) on shares of Denali Therapeutics in a report on Wednesday, March 5th. The Goldman Sachs Group cut their price target on Denali Therapeutics from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Baird R W upgraded Denali Therapeutics to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, Stifel Nicolaus upgraded shares of Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a report on Monday, December 16th.

Denali Therapeutics Trading Up 4.1 %

Shares of DNLI stock opened at $14.78 on Wednesday. Denali Therapeutics has a twelve month low of $13.67 and a twelve month high of $33.33. The stock has a fifty day simple moving average of $19.05 and a two-hundred day simple moving average of $23.21. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of -5.36 and a beta of 1.46.

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

Insider Buying and Selling

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

Hedge Funds Weigh In On Denali Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. boosted its holdings in shares of Denali Therapeutics by 163.7% in the 3rd quarter. Victory Capital Management Inc. now owns 39,900 shares of the company’s stock valued at $1,162,000 after acquiring an additional 24,767 shares during the last quarter. FMR LLC boosted its holdings in Denali Therapeutics by 3,234.3% in the third 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 last quarter. Algert Global LLC grew its holdings in Denali Therapeutics by 82.4% during the third quarter. Algert Global LLC now owns 48,630 shares of the company’s stock worth $1,417,000 after acquiring an additional 21,975 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Denali Therapeutics during the 4th quarter worth approximately $514,000. Finally, JPMorgan Chase & Co. grew its position in Denali Therapeutics by 6.5% during the third quarter. JPMorgan Chase & Co. now owns 235,386 shares of the company’s stock valued at $6,857,000 after buying an additional 14,324 shares during the period. Institutional investors and hedge funds 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.