Analysts Set Denali Therapeutics Inc. (NASDAQ:DNLI) Target Price at $38.90

Shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Get Free Report) have received an average rating of "Moderate Buy" from the eleven analysts that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and eight have given a 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 $38.90.

Several equities research analysts recently issued reports on DNLI shares. Cantor Fitzgerald lowered Denali Therapeutics from an "overweight" rating to a "neutral" rating in a research note on Monday, October 7th. Raymond James reissued a "market perform" rating on shares of Denali Therapeutics in a report on Thursday, October 10th. JPMorgan Chase & Co. dropped their target price 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. Jefferies Financial Group boosted their price target on shares of Denali Therapeutics from $40.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Finally, Citigroup raised their price objective on shares of Denali Therapeutics from $26.00 to $32.00 and gave the company a "buy" rating in a research report on Friday, August 2nd.

Denali Therapeutics Trading Up 0.3 %

Shares of DNLI opened at $24.42 on Thursday. The business's 50-day moving average price is $28.07 and its 200-day moving average price is $24.19. Denali Therapeutics has a twelve month low of $14.56 and a twelve month high of $33.33.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.03). During the same period last year, the firm posted ($0.72) EPS. As a group, equities research analysts forecast that Denali Therapeutics will post -2.69 EPS for the current year.

Insiders Place Their Bets

In other news, Director Steve E. Krognes sold 30,000 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $29.03, for a total transaction of $870,900.00. Following the completion of the sale, the director now directly owns 29,096 shares in the company, valued at approximately $844,656.88. This represents a 50.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Vicki L. Sato sold 1,020 shares of the business's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $30.00, for a total value of $30,600.00. Following the transaction, the director now owns 111,056 shares in the company, valued at approximately $3,331,680. This represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 86,578 shares of company stock valued at $2,474,440 in the last ninety days. Company insiders own 7.90% of the company's stock.

Institutional Trading of Denali Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new position in shares of Denali Therapeutics during the 1st quarter worth approximately $147,000. Vanguard Group Inc. increased its stake in shares of 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 purchasing an additional 133,810 shares in the last quarter. EP Wealth Advisors LLC purchased a new position in shares of Denali Therapeutics during the first quarter valued at approximately $831,000. Capital Research Global Investors boosted its position in shares of 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. Finally, Altitude Crest Partners Inc. purchased a new stake in shares of Denali Therapeutics in the 1st quarter worth approximately $4,301,000. Institutional investors 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.