Denali Therapeutics (NASDAQ:DNLI) Given New $28.00 Price Target at Bank of America

Denali Therapeutics (NASDAQ:DNLI - Free Report) had its price objective decreased by Bank of America from $30.00 to $28.00 in a report issued on Monday,Benzinga reports. Bank of America currently has a buy rating on the stock.

DNLI has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft initiated 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. The Goldman Sachs Group cut their price objective on shares of Denali Therapeutics from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Tuesday, January 28th. William Blair reissued an "outperform" rating on shares of Denali Therapeutics in a research report on Friday, February 28th. Robert W. Baird began coverage on shares of Denali Therapeutics in a research report on Tuesday, January 7th. They issued an "outperform" rating and a $31.00 price target on the stock. Finally, B. Riley reissued a "buy" rating and issued a $35.00 price target (down previously from $38.00) on shares of Denali Therapeutics in a research report on Wednesday, March 5th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Denali Therapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $37.20.

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Denali Therapeutics Price Performance

DNLI traded up $0.25 during midday trading on Monday, hitting $15.14. 15,843 shares of the company's stock traded hands, compared to its average volume of 1,007,537. The company has a market cap of $2.20 billion, a PE ratio of -5.50 and a beta of 1.46. The stock's fifty day simple moving average is $20.38 and its 200-day simple moving average is $24.05. Denali Therapeutics has a one year low of $14.01 and a one year high of $33.33.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.67) earnings per share for the quarter, beating the consensus estimate of ($0.75) by $0.08. On average, research analysts expect that Denali Therapeutics will post -2.71 EPS for the current year.

Insiders Place Their Bets

In other news, insider Carole Ho sold 12,255 shares of the business's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $20.22, for a total value of $247,796.10. Following the sale, the insider now owns 178,580 shares in the company, valued at approximately $3,610,887.60. The trade was a 6.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Vicki L. Sato sold 3,080 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $20.91, for a total transaction of $64,402.80. Following the completion of the sale, the director now owns 107,976 shares in the company, valued at $2,257,778.16. This represents a 2.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,940 shares of company stock worth $973,442 over the last 90 days. Corporate insiders own 7.90% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Polar Asset Management Partners Inc. raised its holdings in shares of Denali Therapeutics by 1,240.9% in the fourth quarter. Polar Asset Management Partners Inc. now owns 551,092 shares of the company's stock valued at $11,231,000 after buying an additional 509,992 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Denali Therapeutics in the fourth quarter valued at about $62,000. Woodline Partners LP bought a new position in shares of Denali Therapeutics in the fourth quarter valued at about $2,038,000. Squarepoint Ops LLC raised its holdings in shares of Denali Therapeutics by 44.2% in the fourth quarter. Squarepoint Ops LLC now owns 48,619 shares of the company's stock valued at $991,000 after buying an additional 14,896 shares during the last quarter. Finally, Twinbeech Capital LP bought a new position in shares of Denali Therapeutics in the fourth quarter valued at about $5,188,000. 92.92% of the stock is owned by institutional investors.

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.