Citigroup Boosts Denali Therapeutics (NASDAQ:DNLI) Price Target to $32.00

Denali Therapeutics (NASDAQ:DNLI) had its price target hoisted by Citigroup from $26.00 to $32.00 in a report published on Friday, Benzinga reports. The brokerage currently has a buy rating on the stock.

DNLI has been the subject of a number of other research reports. Stifel Nicolaus reduced their target price on Denali Therapeutics from $26.00 to $22.00 and set a hold rating for the company in a report on Wednesday, May 8th. JPMorgan Chase & Co. increased their target price on Denali Therapeutics from $28.00 to $29.00 and gave the company an overweight rating in a report on Wednesday, July 10th. HC Wainwright reissued a buy rating and set a $95.00 target price on shares of Denali Therapeutics in a report on Wednesday, May 8th. UBS Group reduced their target price on Denali Therapeutics from $70.00 to $32.00 and set a buy rating for the company in a report on Tuesday, April 9th. Finally, Wedbush reduced their target price on Denali Therapeutics from $30.00 to $26.00 and set an outperform rating for the company in a report on Friday. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $39.33.

Denali Therapeutics Price Performance

NASDAQ DNLI traded up $0.25 during trading hours on Friday, reaching $21.89. The company’s stock had a trading volume of 383,550 shares, compared to its average volume of 1,173,340. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of -22.54 and a beta of 1.40. Denali Therapeutics has a 1-year low of $14.56 and a 1-year high of $28.31. The company’s 50-day moving average is $21.85 and its two-hundred day moving average is $19.64.

Denali Therapeutics (NASDAQ:DNLI) last announced its earnings results on Thursday, August 1st. The company reported ($0.59) EPS for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.09. The firm had revenue of $1.00 million for the quarter, compared to analyst estimates of $10.00 million. During the same period in the previous year, the company earned $1.30 EPS. Denali Therapeutics’s revenue was down 99.7% compared to the same quarter last year. Equities analysts forecast that Denali Therapeutics will post -2.77 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Steve E. Krognes sold 30,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $22.12, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Jennifer E. Cook sold 1,458 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $21.73, for a total transaction of $31,682.34. Following the completion of the transaction, the director now directly owns 20,038 shares in the company, valued at $435,425.74. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Steve E. Krognes sold 30,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $22.12, for a total value of $663,600.00. Following the transaction, the director now owns 34,404 shares of the company’s stock, valued at $761,016.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,146 shares of company stock worth $710,274. Company insiders own 7.90% of the company’s stock.

Institutional Trading of Denali Therapeutics

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Denali Therapeutics by 1.2% in the first quarter. Vanguard Group Inc. now owns 10,968,293 shares of the company’s stock valued at $225,069,000 after acquiring an additional 133,810 shares in the last quarter. Capital Research Global Investors raised 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 acquiring an additional 3,140,429 shares in the last quarter. Baker BROS. Advisors LP raised its stake in shares of Denali Therapeutics by 43.1% in the first 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. Norges Bank acquired a new stake in shares of Denali Therapeutics in the fourth quarter valued at $24,736,000. Finally, Principal Financial Group Inc. raised its stake in shares of Denali Therapeutics by 4.5% in the first quarter. Principal Financial Group Inc. now owns 1,122,536 shares of the company’s stock valued at $23,034,000 after acquiring an additional 48,832 shares in the last quarter. 92.92% of the stock is currently owned by institutional investors and hedge funds.

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.