HC Wainwright Reaffirms Buy Rating for Denali Therapeutics (NASDAQ:DNLI)

HC Wainwright reiterated their buy rating on shares of Denali Therapeutics (NASDAQ:DNLI) in a research note released on Thursday,Benzinga reports. They currently have a $90.00 price objective on the stock. HC Wainwright also issued estimates for Denali Therapeutics’ FY2027 earnings at $1.68 EPS.

A number of other equities research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Citigroup boosted their price target on shares of Denali Therapeutics from $26.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Bank of America raised their price objective on shares of Denali Therapeutics from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Jefferies Financial Group upped their target price on Denali Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Wedbush lowered their target price on Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.90.

Denali Therapeutics Stock Performance

Shares of Denali Therapeutics stock traded up $1.75 on Thursday, hitting $31.35. The company had a trading volume of 713,350 shares, compared to its average volume of 1,070,952. The stock has a market capitalization of $4.49 billion, a price-to-earnings ratio of -10.39 and a beta of 1.40. The stock has a 50 day moving average of $27.67 and a 200-day moving average of $23.40. Denali Therapeutics has a 1 year low of $14.56 and a 1 year high of $32.13.

Denali Therapeutics (NASDAQ:DNLI) last announced its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.03). During the same period in the previous year, the firm posted ($0.72) earnings per share. Equities analysts anticipate that Denali Therapeutics will post -2.53 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Denali Therapeutics

A number of large investors have recently made changes to their positions in DNLI. Capital Research Global Investors grew its position in Denali Therapeutics by 107.9% during the 1st quarter. Capital Research Global Investors now owns 6,049,957 shares of the company’s stock worth $124,145,000 after purchasing an additional 3,140,429 shares during the period. Baker BROS. Advisors LP lifted its stake in Denali Therapeutics by 43.1% in the first quarter. Baker BROS. Advisors LP now owns 3,731,695 shares of the company’s stock worth $76,574,000 after acquiring an additional 1,124,499 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Denali Therapeutics during the 2nd quarter worth $24,454,000. Integral Health Asset Management LLC purchased a new position in Denali Therapeutics in the second quarter valued at $7,546,000. Finally, Candriam S.C.A. lifted its holdings in Denali Therapeutics by 62.2% during the 2nd quarter. Candriam S.C.A. now owns 726,499 shares of the company’s stock worth $16,869,000 after buying an additional 278,621 shares during the last quarter. 92.92% of the stock is 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.