Jefferies Financial Group Forecasts Strong Price Appreciation for Denali Therapeutics (NASDAQ:DNLI) Stock

Denali Therapeutics (NASDAQ:DNLI) had its price objective hoisted by Jefferies Financial Group from $40.00 to $45.00 in a research report report published on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently weighed in on DNLI. Bank of America upped their price target on Denali Therapeutics from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. HC Wainwright reaffirmed a “buy” rating and set a $90.00 price target on shares of Denali Therapeutics in a report on Wednesday, September 4th. Wedbush dropped their price target on shares of Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Cantor Fitzgerald cut shares of Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, October 7th. Finally, Citigroup lifted their target price on Denali Therapeutics from $26.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Denali Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.90.

Denali Therapeutics Price Performance

NASDAQ:DNLI opened at $27.21 on Friday. The business’s 50-day moving average is $27.41 and its two-hundred day moving average is $23.23. The firm has a market capitalization of $3.90 billion, a PE ratio of -9.55 and a beta of 1.40. Denali Therapeutics has a 12 month low of $14.56 and a 12 month high of $32.13.

Insider Activity

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

Institutional Trading of Denali Therapeutics

A number of large investors have recently modified their holdings of DNLI. Capital Research Global Investors increased its stake in shares of Denali Therapeutics by 107.9% in the first 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. Baker BROS. Advisors LP raised its stake 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 valued at $76,574,000 after acquiring an additional 1,124,499 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Denali Therapeutics during the 2nd quarter valued at $24,454,000. Integral Health Asset Management LLC acquired a new position in Denali Therapeutics during the 2nd quarter worth $7,546,000. Finally, Candriam S.C.A. grew its stake in shares of Denali Therapeutics by 62.2% in the second quarter. Candriam S.C.A. now owns 726,499 shares of the company’s stock worth $16,869,000 after purchasing an additional 278,621 shares in the last quarter. 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.