Denali Therapeutics Inc. (NASDAQ:DNLI) Receives $38.22 Average Price Target from Analysts

Shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the ten research firms that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $38.22.

Several research analysts recently commented on the company. JPMorgan Chase & Co. cut their price target on Denali Therapeutics from $29.00 to $28.00 and set an "overweight" rating on the stock in a research note on Friday, October 11th. HC Wainwright reaffirmed a "buy" rating and issued a $90.00 target price on shares of Denali Therapeutics in a research report on Wednesday, September 4th. Wedbush reduced their target price on Denali Therapeutics from $30.00 to $26.00 and set an "outperform" rating for the company in a research note on Friday, August 2nd. Bank of America lifted their price target on shares of Denali Therapeutics from $25.00 to $29.00 and gave the stock a "buy" rating in a research note on Wednesday, September 4th. Finally, Cantor Fitzgerald cut shares of Denali Therapeutics from an "overweight" rating to a "neutral" rating in a report on Monday, October 7th.

Insider Transactions at Denali Therapeutics

In related news, CEO Ryan J. Watts sold 40,000 shares of the firm'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 sale, the chief executive officer now directly owns 235,807 shares in the company, valued at $6,529,495.83. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Ryan J. Watts sold 40,000 shares of the company's stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $27.69, for a total value of $1,107,600.00. Following the completion of the sale, the chief executive officer now owns 235,807 shares of the company's stock, valued at $6,529,495.83. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Steve E. Krognes sold 30,000 shares of the firm's 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 transaction, the director now directly owns 29,096 shares in the company, valued at approximately $844,656.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 7.90% of the company's stock.

Institutional Investors Weigh In On Denali Therapeutics

A number of institutional investors have recently added to or reduced their stakes in DNLI. Capital Research Global Investors increased its position in shares of Denali Therapeutics by 107.9% during the 1st quarter. Capital Research Global Investors now owns 6,049,957 shares of the company's stock valued at $124,145,000 after purchasing an additional 3,140,429 shares during the period. Baker BROS. Advisors LP grew its holdings in Denali Therapeutics by 43.1% during the first quarter. Baker BROS. Advisors LP now owns 3,731,695 shares of the company's stock worth $76,574,000 after acquiring an additional 1,124,499 shares during the period. Point72 Asset Management L.P. bought a new stake in Denali Therapeutics in the second quarter worth about $24,454,000. Integral Health Asset Management LLC acquired a new stake in Denali Therapeutics in the 2nd quarter valued at about $7,546,000. Finally, Candriam S.C.A. lifted its holdings in Denali Therapeutics by 62.2% in the 2nd quarter. Candriam S.C.A. now owns 726,499 shares of the company's stock valued at $16,869,000 after acquiring an additional 278,621 shares during the last quarter. 92.92% of the stock is currently owned by institutional investors and hedge funds.

Denali Therapeutics Stock Down 1.1 %

Shares of DNLI traded down $0.29 during mid-day trading on Friday, reaching $26.15. 410,066 shares of the stock traded hands, compared to its average volume of 1,082,439. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of -27.24 and a beta of 1.38. The stock has a fifty day simple moving average of $27.10 and a 200 day simple moving average of $22.84. Denali Therapeutics has a 12-month low of $14.56 and a 12-month high of $32.13.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.59) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.09. The firm had revenue of $1.00 million for the quarter, compared to analysts' expectations of $10.00 million. The business's quarterly revenue was down 99.7% on a year-over-year basis. During the same period last year, the firm earned $1.30 EPS. On average, equities research analysts expect that Denali Therapeutics will post -2.54 earnings per share for the current fiscal year.

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.