Denali Therapeutics (NASDAQ:DNLI) Price Target Cut to $24.00 by Analysts at JPMorgan Chase & Co.

Denali Therapeutics (NASDAQ:DNLI) had its target price decreased by JPMorgan Chase & Co. from $28.00 to $24.00 in a report published on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other research analysts also recently issued reports on DNLI. William Blair began coverage on Denali Therapeutics in a report on Friday, January 3rd. They set an “outperform” rating on the stock. HC Wainwright lowered their target price on shares of Denali Therapeutics from $90.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday. Raymond James reiterated a “market perform” rating on shares of Denali Therapeutics in a research note on Thursday, October 10th. Robert W. Baird began coverage on shares of Denali Therapeutics in a research report on Tuesday. They set an “outperform” rating and a $31.00 price objective on the stock. Finally, Jefferies Financial Group lifted their target price on shares of Denali Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Denali Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $38.91.

Denali Therapeutics Stock Performance

Shares of DNLI stock opened at $21.18 on Tuesday. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of -7.67 and a beta of 1.39. Denali Therapeutics has a one year low of $14.56 and a one year high of $33.33. The company’s 50-day moving average is $24.34 and its 200 day moving average is $24.88.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.03). During the same quarter in the prior year, the company earned ($0.72) EPS. As a group, research analysts predict that Denali Therapeutics will post -2.71 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Ryan J. Watts sold 40,000 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $27.69, for a total value 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Vicki L. Sato sold 1,020 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $30.00, for a total transaction of $30,600.00. Following the transaction, the director now directly owns 111,056 shares of the company’s stock, valued at $3,331,680. The trade was a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,658 shares of company stock worth $1,667,943 in the last three months. Company insiders own 7.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC boosted its stake in Denali Therapeutics by 3,234.3% during the third quarter. FMR LLC now owns 7,831,378 shares of the company’s stock valued at $228,128,000 after buying an additional 7,596,508 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake 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 valued at $109,223,000 after purchasing an additional 1,451,770 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Denali Therapeutics during the second quarter valued at $24,454,000. Wellington Management Group LLP grew its stake in shares of Denali Therapeutics by 9.2% in the 3rd 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 in the last quarter. Finally, Integral Health Asset Management LLC bought a new stake in shares of Denali Therapeutics in the 2nd quarter worth about $7,546,000. Institutional investors 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.