Denali Therapeutics (NASDAQ:DNLI) Stock Price Up 4.1% - Time to Buy?

Denali Therapeutics Inc. (NASDAQ:DNLI - Get Free Report)'s share price was up 4.1% during trading on Wednesday . The company traded as high as $12.54 and last traded at $12.79. Approximately 35,969 shares were traded during trading, a decline of 97% from the average daily volume of 1,040,093 shares. The stock had previously closed at $12.29.

Analysts Set New Price Targets

DNLI has been the subject of a number of analyst reports. Baird R W raised shares of Denali Therapeutics to a "strong-buy" rating in a research report on Tuesday, January 7th. Bank of America reduced their price target on Denali Therapeutics from $30.00 to $28.00 and set a "buy" rating on the stock in a research report on Monday, March 10th. B. Riley restated a "buy" rating and set a $35.00 price objective (down from $38.00) on shares of Denali Therapeutics in a research report on Wednesday, March 5th. Morgan Stanley began coverage on Denali Therapeutics in a research note on Friday, March 7th. They set an "overweight" rating and a $33.00 price target on the stock. Finally, HC Wainwright lifted their price objective on Denali Therapeutics from $80.00 to $87.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. 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. According to MarketBeat, Denali Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.20.

Denali Therapeutics Stock Performance

The stock has a fifty day moving average price of $18.06 and a 200 day moving average price of $22.60. The stock has a market cap of $1.63 billion, a PE ratio of -4.08 and a beta of 1.58.

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Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.67) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.75) by $0.08. As a group, equities analysts anticipate that Denali Therapeutics Inc. will post -2.71 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Steve E. Krognes sold 3,339 shares of the business's stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $20.81, for a total transaction of $69,484.59. Following the sale, the director now owns 25,757 shares in the company, valued at approximately $536,003.17. The trade was a 11.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 7.90% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its position in shares of Denali Therapeutics by 230.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 27,625 shares of the company's stock valued at $805,000 after acquiring an additional 19,259 shares during the period. Wellington Management Group LLP increased its position in shares of Denali Therapeutics by 9.2% in the third quarter. Wellington Management Group LLP now owns 10,727,450 shares of the company's stock valued at $312,491,000 after buying an additional 903,683 shares in the last quarter. Pier Capital LLC raised its stake in shares of Denali Therapeutics by 1.6% during the 3rd quarter. Pier Capital LLC now owns 168,082 shares of the company's stock worth $4,896,000 after buying an additional 2,596 shares during the period. Nomura Asset Management Co. Ltd. purchased a new position in shares of Denali Therapeutics during the 3rd quarter valued at approximately $1,894,000. Finally, Barclays PLC grew its stake in Denali Therapeutics by 101.4% in 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 period. 92.92% of the stock is currently owned by institutional investors and hedge funds.

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.