Denali Therapeutics (NASDAQ:DNLI) Given Market Perform Rating at Raymond James

Raymond James reissued their market perform rating on shares of Denali Therapeutics (NASDAQ:DNLI) in a research note released on Thursday, MarketBeat Ratings reports.

A number of other analysts also recently weighed in on DNLI. JPMorgan Chase & Co. lifted their price target on Denali Therapeutics from $28.00 to $29.00 and gave the company an overweight rating in a research note on Wednesday, July 10th. HC Wainwright reaffirmed a buy rating and issued a $90.00 price objective on shares of Denali Therapeutics in a research report on Wednesday, September 4th. Cantor Fitzgerald downgraded Denali Therapeutics from an overweight rating to a neutral rating in a research report on Monday. Wedbush lowered their price target 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. Finally, Bank of America boosted their price target on Denali Therapeutics from $25.00 to $29.00 and gave the company a buy rating in a research report on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $38.33.

Denali Therapeutics Price Performance

Shares of NASDAQ DNLI traded up $0.28 during midday trading on Thursday, hitting $26.02. 28,443 shares of the company’s stock were exchanged, compared to its average volume of 1,105,731. The firm’s fifty day simple moving average is $26.12 and its 200-day simple moving average is $22.24. Denali Therapeutics has a twelve month low of $14.56 and a twelve month high of $32.13.

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

Insider Buying and Selling

In related news, Director Steve E. Krognes sold 30,000 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was 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 in the company, valued at approximately $844,656.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 7.90% of the company’s stock.

Institutional Trading of Denali Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Denali Therapeutics by 1.2% during the first quarter. Vanguard Group Inc. now owns 10,968,293 shares of the company’s stock valued at $225,069,000 after buying an additional 133,810 shares in the last quarter. Capital Research Global Investors raised its stake in Denali Therapeutics by 107.9% during the first quarter. Capital Research Global Investors now owns 6,049,957 shares of the company’s stock valued at $124,145,000 after buying an additional 3,140,429 shares in the last quarter. Baker BROS. Advisors LP raised its stake in Denali Therapeutics by 43.1% during the first quarter. Baker BROS. Advisors LP now owns 3,731,695 shares of the company’s stock valued at $76,574,000 after buying an additional 1,124,499 shares in the last quarter. Marshall Wace LLP raised its stake in Denali Therapeutics by 12.7% during the second quarter. Marshall Wace LLP now owns 2,418,833 shares of the company’s stock valued at $56,165,000 after buying an additional 272,454 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Denali Therapeutics by 6.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,417,472 shares of the company’s stock valued at $32,913,000 after buying an additional 84,522 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.