Brokerages Set Denali Therapeutics Inc. (NASDAQ:DNLI) PT at $38.90

Denali Therapeutics Inc. (NASDAQ:DNLI) has received an average recommendation of “Moderate Buy” from the eleven analysts that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $40.40.

Several brokerages recently issued reports on DNLI. Jefferies Financial Group boosted their price target on Denali Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. lowered their price objective on shares of Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Bank of America upped their price objective on shares of Denali Therapeutics from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Cantor Fitzgerald lowered shares of Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, October 7th. Finally, Raymond James reissued a “market perform” rating on shares of Denali Therapeutics in a report on Thursday, October 10th.

Insider Activity at Denali Therapeutics

In related news, insider Alexander O. Schuth sold 15,558 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $29.91, for a total value of $465,339.78. Following the sale, the insider now directly owns 178,066 shares of the company’s stock, valued at approximately $5,325,954.06. This represents a 8.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan J. Watts sold 40,000 shares of Denali Therapeutics stock in a transaction dated 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 owns 235,807 shares of the company’s stock, valued at approximately $6,529,495.83. The trade was a 14.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 86,578 shares of company stock valued at $2,474,440 in the last ninety days. Corporate insiders own 7.90% of the company’s stock.

Hedge Funds Weigh In On Denali Therapeutics

Several hedge funds have recently bought and sold shares of the stock. FMR LLC lifted its position in shares of 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 acquiring an additional 7,596,508 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Denali Therapeutics by 63.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,749,486 shares of the company’s stock valued at $109,223,000 after buying an additional 1,451,770 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Denali Therapeutics during the second quarter valued at approximately $24,454,000. Wellington Management Group LLP boosted its position in Denali Therapeutics by 9.2% during the third quarter. Wellington Management Group LLP now owns 10,727,450 shares of the company’s stock worth $312,491,000 after acquiring an additional 903,683 shares during the last quarter. Finally, Integral Health Asset Management LLC acquired a new position in Denali Therapeutics in the 2nd quarter valued at $7,546,000. Hedge funds and other institutional investors own 92.92% of the company’s stock.

Denali Therapeutics Stock Down 0.2 %

DNLI opened at $21.45 on Monday. Denali Therapeutics has a 52 week low of $14.56 and a 52 week high of $33.33. The business’s 50 day moving average is $25.82 and its two-hundred day moving average is $24.88. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of -7.77 and a beta of 1.35.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.03). During the same quarter in the previous year, the firm posted ($0.72) EPS. Equities analysts expect that Denali Therapeutics will post -2.71 EPS for the current fiscal year.

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.