Denali Therapeutics (NASDAQ:DNLI) Given New $24.00 Price Target at JPMorgan Chase & Co.

Denali Therapeutics (NASDAQ:DNLI - Free Report) had its price objective lowered by JPMorgan Chase & Co. from $28.00 to $24.00 in a research note published on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other research analysts have also weighed in on DNLI. Jefferies Financial Group raised their price target on shares of Denali Therapeutics from $40.00 to $45.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Stifel Nicolaus raised Denali Therapeutics from a "hold" rating to a "buy" rating and set a $37.00 price objective for the company in a research report on Monday, December 16th. Cantor Fitzgerald cut Denali Therapeutics from an "overweight" rating to a "neutral" rating in a report on Monday, October 7th. Robert W. Baird started coverage on Denali Therapeutics in a report on Tuesday. They issued an "outperform" rating and a $31.00 target price for the company. Finally, William Blair began coverage on shares of Denali Therapeutics in a report on Friday. They issued an "outperform" rating on the stock. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, Denali Therapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $38.91.

Denali Therapeutics Stock Performance

DNLI stock traded up $1.36 during midday 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. The stock has a fifty day simple moving average of $24.46 and a two-hundred day simple moving average of $24.89. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of -7.67 and a beta of 1.39. Denali Therapeutics has a 1 year low of $14.56 and a 1 year high of $33.33.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last posted its quarterly earnings data 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 in the previous year, the company posted ($0.72) EPS. As a group, analysts forecast that Denali Therapeutics will post -2.71 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Vicki L. Sato sold 3,080 shares of Denali Therapeutics stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $20.91, for a total value of $64,402.80. Following the sale, the director now owns 107,976 shares of the company's stock, valued at approximately $2,257,778.16. This trade represents a 2.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan J. Watts sold 40,000 shares of the business's stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $27.69, for a total transaction 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. This represents a 14.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,658 shares of company stock valued at $1,667,943 over the last ninety days. 7.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Denali Therapeutics

Several institutional investors have recently added to or reduced their stakes in DNLI. Rhumbline Advisers lifted its stake in shares of Denali Therapeutics by 13.3% in the second quarter. Rhumbline Advisers now owns 194,859 shares of the company's stock worth $4,525,000 after buying an additional 22,900 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of Denali Therapeutics by 4.5% during the second quarter. TD Asset Management Inc now owns 179,152 shares of the company's stock valued at $4,160,000 after purchasing an additional 7,766 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Denali Therapeutics by 9.0% during the second quarter. Arizona State Retirement System now owns 33,114 shares of the company's stock valued at $769,000 after purchasing an additional 2,730 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Denali Therapeutics by 13.7% during the second quarter. American Century Companies Inc. now owns 522,594 shares of the company's stock valued at $12,135,000 after buying an additional 63,058 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Denali Therapeutics by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,417,472 shares of the company's stock worth $32,913,000 after buying an additional 84,522 shares in the last quarter. 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.