Denali Therapeutics (NASDAQ:DNLI) Receives Market Perform Rating from Raymond James

Raymond James reissued their market perform rating on shares of Denali Therapeutics (NASDAQ:DNLI) in a report published on Thursday, Marketbeat reports.

Several other research analysts have also issued reports on DNLI. Wedbush decreased their target price on Denali Therapeutics from $30.00 to $26.00 and set an outperform rating for the company in a research report on Friday, August 2nd. Bank of America raised their price objective on Denali Therapeutics from $25.00 to $29.00 and gave the company a buy rating in a research report on Wednesday, September 4th. Citigroup upped their target price on shares of Denali Therapeutics from $26.00 to $32.00 and gave the stock a buy rating in a research report 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, HC Wainwright reissued a buy rating and set a $90.00 price objective on shares of Denali Therapeutics in a research note on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $38.22.

Denali Therapeutics Stock Performance

DNLI opened at $28.00 on Thursday. The stock has a market capitalization of $3.99 billion, a PE ratio of -29.17 and a beta of 1.38. The stock’s 50 day moving average price is $26.24 and its 200-day moving average price is $22.33. Denali Therapeutics has a 52-week low of $14.56 and a 52-week high of $32.13.

Denali Therapeutics (NASDAQ:DNLI) last posted its earnings results on Thursday, August 1st. The company reported ($0.59) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.09. The company had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $10.00 million. During the same period in the prior year, the business posted $1.30 earnings per share. The company’s revenue for the quarter was down 99.7% on a year-over-year basis. Research analysts forecast that Denali Therapeutics will post -2.54 EPS for the current fiscal year.

Insider Buying and Selling

In other Denali Therapeutics news, Director Steve E. Krognes sold 30,000 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $29.03, for a total transaction of $870,900.00. Following the completion of the sale, the director now directly owns 29,096 shares in the company, valued at approximately $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 hyperlink. 7.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC increased its position in shares of Denali Therapeutics by 879.5% during the 2nd quarter. GAMMA Investing LLC now owns 2,057 shares of the company’s stock valued at $48,000 after purchasing an additional 1,847 shares during the last quarter. CWM LLC raised its position in Denali Therapeutics by 43.6% in the third quarter. CWM LLC now owns 2,153 shares of the company’s stock worth $63,000 after acquiring an additional 654 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Denali Therapeutics by 48.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,486 shares of the company’s stock worth $53,000 after acquiring an additional 807 shares during the last quarter. Fisher Asset Management LLC bought a new stake in shares of Denali Therapeutics during the 4th quarter valued at $59,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Denali Therapeutics in the 1st quarter worth $88,000. 92.92% of the stock is owned by hedge funds and other institutional investors.

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.