HC Wainwright Lowers Denali Therapeutics (NASDAQ:DNLI) Price Target to $87.00

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) had its price target decreased by analysts at HC Wainwright from $90.00 to $87.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. HC Wainwright's price objective suggests a potential upside of 310.76% from the stock's current price.

A number of other equities research analysts have also issued reports on DNLI. William Blair initiated coverage on Denali Therapeutics in a research report on Friday. They issued an "outperform" rating on the stock. Cantor Fitzgerald downgraded shares of Denali Therapeutics from an "overweight" rating to a "neutral" rating in a research note on Monday, October 7th. JPMorgan Chase & Co. dropped their price objective on shares of Denali Therapeutics from $29.00 to $28.00 and set an "overweight" rating on the stock in a research report on Friday, October 11th. Jefferies Financial Group lifted their price objective on shares of Denali Therapeutics from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Finally, Stifel Nicolaus raised Denali Therapeutics from a "hold" rating to a "buy" rating and set a $37.00 target price on the stock in a report on Monday, December 16th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Denali Therapeutics presently has an average rating of "Moderate Buy" and an average price target of $38.91.

Denali Therapeutics Price Performance

Shares of DNLI stock traded up $1.36 during trading on Tuesday, reaching $21.18. The company's stock had a trading volume of 1,634,072 shares, compared to its average volume of 1,149,018. Denali Therapeutics has a 1-year low of $14.56 and a 1-year high of $33.33. The stock's 50-day moving average price is $24.34 and its 200 day moving average price is $24.88. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of -7.67 and a beta of 1.39.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.03). During the same period last year, the business posted ($0.72) EPS. On average, sell-side analysts anticipate that Denali Therapeutics will post -2.71 EPS for the current fiscal year.

Insider Transactions at Denali Therapeutics

In related news, Director Vicki L. Sato sold 3,080 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $20.91, for a total value 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 trade represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan J. Watts sold 40,000 shares of the business's stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $27.69, for a total value of $1,107,600.00. Following the transaction, the chief executive officer now owns 235,807 shares in the company, valued at $6,529,495.83. The trade was a 14.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,658 shares of company stock worth $1,667,943. Company insiders own 7.90% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its stake in Denali Therapeutics by 6.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 235,386 shares of the company's stock valued at $6,857,000 after purchasing an additional 14,324 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Denali Therapeutics by 13.8% in the third quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company's stock valued at $36,076,000 after buying an additional 149,939 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Denali Therapeutics by 3.8% in the 3rd quarter. Franklin Resources Inc. now owns 80,041 shares of the company's stock worth $2,148,000 after buying an additional 2,901 shares in the last quarter. Barclays PLC increased its stake in shares of Denali Therapeutics by 101.4% during the 3rd quarter. Barclays PLC now owns 255,883 shares of the company's stock valued at $7,454,000 after acquiring an additional 128,823 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. purchased a new position in shares of Denali Therapeutics during the 3rd quarter worth about $1,894,000. 92.92% of the stock is owned by hedge funds and other 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.