The Goldman Sachs Group Cuts Denali Therapeutics (NASDAQ:DNLI) Price Target to $40.00

Denali Therapeutics (NASDAQ:DNLI) had its price objective trimmed by The Goldman Sachs Group from $45.00 to $40.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts also recently issued research reports about the stock. HC Wainwright decreased their price objective on shares of Denali Therapeutics from $90.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Jefferies Financial Group raised their price target on Denali Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Cantor Fitzgerald cut Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, October 7th. Baird R W upgraded shares of Denali Therapeutics to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, Robert W. Baird started coverage on shares of Denali Therapeutics in a research report on Tuesday, January 7th. They issued an “outperform” rating and a $31.00 price target for the company. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.00.

Denali Therapeutics Stock Performance

Shares of NASDAQ DNLI opened at $23.50 on Tuesday. The stock’s 50-day simple moving average is $22.48 and its 200-day simple moving average is $24.85. The firm has a market capitalization of $3.38 billion, a PE ratio of -8.51 and a beta of 1.39. Denali Therapeutics has a fifty-two week low of $14.56 and a fifty-two week high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings data 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 prior year, the business earned ($0.72) EPS. On average, sell-side analysts forecast that Denali Therapeutics will post -2.73 earnings per share for the current fiscal year.

Insider Transactions at Denali Therapeutics

In other Denali Therapeutics news, Director Steve E. Krognes sold 3,339 shares of Denali Therapeutics stock in a transaction that occurred on 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 owns 25,757 shares of the company’s stock, valued at approximately $536,003.17. The trade was a 11.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander O. Schuth sold 15,558 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $29.91, for a total value of $465,339.78. Following the transaction, the insider now owns 178,066 shares in the company, valued at $5,325,954.06. The trade was a 8.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,518 shares of company stock worth $1,469,382. Company insiders own 7.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of DNLI. FMR LLC grew its stake in shares of Denali Therapeutics by 3,234.3% during the 3rd quarter. FMR LLC now owns 7,831,378 shares of the company’s stock worth $228,128,000 after purchasing an additional 7,596,508 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Denali Therapeutics by 63.2% during 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 worth $109,223,000 after buying an additional 1,451,770 shares in the last quarter. Wellington Management Group LLP grew 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 buying an additional 903,683 shares during the period. Millennium Management LLC increased its holdings in Denali Therapeutics by 58.7% in the second quarter. Millennium Management LLC now owns 619,929 shares of the company’s stock valued at $14,395,000 after buying an additional 229,313 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Denali Therapeutics by 13.8% in the third quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company’s stock valued at $36,076,000 after buying an additional 149,939 shares in the last quarter. Institutional investors and hedge funds own 92.92% of the company’s stock.

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.