Denali Therapeutics (NASDAQ:DNLI) Hits New 52-Week High – Still a Buy?

Denali Therapeutics Inc. (NASDAQ:DNLI) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $32.37 and last traded at $32.37, with a volume of 978 shares changing hands. The stock had previously closed at $31.35.

Analysts Set New Price Targets

DNLI has been the subject of several research analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Bank of America raised their price target on shares of Denali Therapeutics from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. HC Wainwright reissued a “buy” rating and set a $90.00 price objective on shares of Denali Therapeutics in a report on Thursday, November 7th. Wedbush cut their target price on Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald cut Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, October 7th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.90.

Denali Therapeutics Stock Down 5.4 %

The stock has a market cap of $4.30 billion, a PE ratio of -10.83 and a beta of 1.40. The business has a 50 day moving average price of $28.05 and a 200 day moving average price of $23.84.

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 quarter in the prior year, the firm earned ($0.72) EPS. On average, research analysts predict that Denali Therapeutics Inc. will post -2.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Steve E. Krognes sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $29.03, for a total value of $870,900.00. Following the completion of the sale, the director now directly owns 29,096 shares in the company, valued at $844,656.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Steve E. Krognes sold 30,000 shares of Denali Therapeutics stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $29.03, for a total value of $870,900.00. Following the sale, the director now owns 29,096 shares in the company, valued at $844,656.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Alexander O. Schuth sold 15,558 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $29.91, for a total transaction of $465,339.78. Following the transaction, the insider now owns 178,066 shares of the company’s stock, valued at approximately $5,325,954.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 86,578 shares of company stock worth $2,474,440. 7.90% of the stock is owned by corporate insiders.

Institutional Trading of Denali Therapeutics

A number of institutional investors have recently made changes to their positions in the company. EP Wealth Advisors LLC purchased a new position in Denali Therapeutics in the 1st quarter valued at $831,000. Edgestream Partners L.P. purchased a new stake in Denali Therapeutics during the 1st quarter valued at about $2,301,000. Swiss National Bank grew its stake in Denali Therapeutics by 0.7% during the 1st quarter. Swiss National Bank now owns 218,200 shares of the company’s stock valued at $4,477,000 after acquiring an additional 1,500 shares in the last quarter. Bayesian Capital Management LP acquired a new stake in Denali Therapeutics in the 1st quarter valued at about $447,000. Finally, Capital Research Global Investors lifted its stake in Denali Therapeutics by 107.9% in the 1st quarter. Capital Research Global Investors now owns 6,049,957 shares of the company’s stock worth $124,145,000 after purchasing an additional 3,140,429 shares in the last quarter. 92.92% of the stock is owned by institutional investors and hedge funds.

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.