Brokerages Set Denali Therapeutics Inc. (NASDAQ:DNLI) Target Price at $37.20

Denali Therapeutics Inc. (NASDAQ:DNLI) has been given a consensus recommendation of “Moderate Buy” by the eighteen ratings firms that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $37.20.

A number of research analysts recently commented on DNLI shares. JPMorgan Chase & Co. cut their target price on Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Morgan Stanley assumed coverage on shares of Denali Therapeutics in a research note on Friday, March 7th. They issued an “overweight” rating and a $33.00 price objective for the company. Deutsche Bank Aktiengesellschaft started coverage on shares of Denali Therapeutics in a research report on Tuesday, February 11th. They set a “buy” rating and a $31.00 target price on the stock. Oppenheimer cut their price target on shares of Denali Therapeutics from $50.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Finally, The Goldman Sachs Group lowered their price objective on Denali Therapeutics from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th.

Denali Therapeutics Price Performance

Shares of Denali Therapeutics stock opened at $12.29 on Wednesday. The company has a market cap of $1.78 billion, a PE ratio of -4.45 and a beta of 1.46. The firm has a fifty day moving average price of $18.67 and a two-hundred day moving average price of $22.97. Denali Therapeutics has a fifty-two week low of $12.05 and a fifty-two week high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last released its earnings results on Thursday, February 27th. The company reported ($0.67) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.08. Analysts expect that Denali Therapeutics will post -2.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Ryan J. Watts sold 29,266 shares of Denali Therapeutics stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $20.22, for a total value of $591,758.52. Following the completion of the sale, the chief executive officer now directly owns 260,721 shares in the company, valued at $5,271,778.62. This trade represents a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Carole Ho sold 12,255 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $20.22, for a total value of $247,796.10. Following the sale, the insider now directly owns 178,580 shares of the company’s stock, valued at $3,610,887.60. This represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,940 shares of company stock valued at $973,442. Insiders own 7.90% of the company’s stock.

Institutional Investors Weigh In On Denali Therapeutics

Institutional investors have recently modified their holdings of the business. Sterling Capital Management LLC lifted its holdings in Denali Therapeutics by 589.9% in the fourth quarter. Sterling Capital Management LLC now owns 1,773 shares of the company’s stock valued at $36,000 after buying an additional 1,516 shares during the period. GF Fund Management CO. LTD. bought a new stake in shares of Denali Therapeutics during the 4th quarter valued at $62,000. Point72 Hong Kong Ltd acquired a new position in shares of Denali Therapeutics in the 4th quarter valued at $65,000. Quest Partners LLC bought a new position in shares of Denali Therapeutics in the 3rd quarter worth $73,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of Denali Therapeutics by 30.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,790 shares of the company’s stock worth $77,000 after purchasing an additional 885 shares during the period. 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.