Oppenheimer Cuts Denali Therapeutics (NASDAQ:DNLI) Price Target to $42.00

Denali Therapeutics (NASDAQ:DNLI) had its price target reduced by Oppenheimer from $50.00 to $42.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages also recently issued reports on DNLI. HC Wainwright boosted their price objective on shares of Denali Therapeutics from $80.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, February 28th. William Blair reissued an “outperform” rating on shares of Denali Therapeutics in a research report on Friday, February 28th. Stifel Nicolaus raised shares of Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research report on Monday, December 16th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Denali Therapeutics in a research report on Tuesday, February 11th. They set a “buy” rating and a $31.00 price objective on the stock. Finally, Baird R W raised shares of Denali Therapeutics to a “strong-buy” rating in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Denali Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $37.57.

Denali Therapeutics Stock Up 2.2 %

Shares of NASDAQ DNLI opened at $16.30 on Monday. Denali Therapeutics has a 52 week low of $14.01 and a 52 week high of $33.33. The firm’s fifty day moving average is $21.07 and its 200 day moving average is $24.46. The company has a market cap of $2.35 billion, a price-to-earnings ratio of -5.91 and a beta of 1.43.

Denali Therapeutics (NASDAQ:DNLI) last issued its earnings results on Thursday, February 27th. The company reported ($0.67) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.08. Equities research analysts anticipate that Denali Therapeutics will post -2.71 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Steve E. Krognes sold 3,339 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $20.81, for a total value of $69,484.59. Following the transaction, the director now owns 25,757 shares in the company, valued at $536,003.17. The trade was a 11.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Vicki L. Sato sold 3,080 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $20.91, for a total transaction of $64,402.80. Following the completion of the transaction, the director now owns 107,976 shares in the company, valued at approximately $2,257,778.16. The trade was a 2.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,940 shares of company stock worth $973,442 in the last quarter. Corporate insiders own 7.90% of the company’s stock.

Hedge Funds Weigh In On Denali Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of DNLI. Mirae Asset Global Investments Co. Ltd. lifted its stake in Denali Therapeutics by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,178 shares of the company’s stock valued at $152,000 after acquiring an additional 920 shares during the period. Principal Financial Group Inc. lifted its stake in Denali Therapeutics by 13.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company’s stock valued at $36,076,000 after acquiring an additional 149,939 shares during the period. AIA Group Ltd lifted its stake in Denali Therapeutics by 7.9% during the 3rd quarter. AIA Group Ltd now owns 74,815 shares of the company’s stock valued at $2,179,000 after acquiring an additional 5,471 shares during the period. Assetmark Inc. lifted its stake in Denali Therapeutics by 18.0% during the 3rd quarter. Assetmark Inc. now owns 3,808 shares of the company’s stock valued at $111,000 after acquiring an additional 580 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in Denali Therapeutics by 163.7% during the 3rd quarter. Victory Capital Management Inc. now owns 39,900 shares of the company’s stock valued at $1,162,000 after acquiring an additional 24,767 shares during the period. Institutional investors own 92.92% of the company’s stock.

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.