The Goldman Sachs Group Lowers Denali Therapeutics (NASDAQ:DNLI) Price Target to $40.00

Denali Therapeutics (NASDAQ:DNLI - Free Report) had its price target decreased by The Goldman Sachs Group from $45.00 to $40.00 in a report published on Tuesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

A number of other analysts have also commented on the company. Robert W. Baird started coverage on Denali Therapeutics in a research note on Tuesday, January 7th. They set an "outperform" rating and a $31.00 price target on the stock. Jefferies Financial Group lifted their price objective on Denali Therapeutics from $40.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. William Blair reaffirmed an "outperform" rating on shares of Denali Therapeutics in a research note on Wednesday, January 15th. JPMorgan Chase & Co. cut their price objective on Denali Therapeutics from $28.00 to $24.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. Finally, Baird R W raised Denali Therapeutics to a "strong-buy" rating in a research note on Tuesday, January 7th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $38.00.

Denali Therapeutics Stock Performance

Shares of NASDAQ DNLI traded down $0.28 during mid-day trading on Tuesday, reaching $23.30. The company had a trading volume of 722,276 shares, compared to its average volume of 1,009,023. Denali Therapeutics has a one year low of $14.56 and a one year high of $33.33. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of -8.44 and a beta of 1.39. The business's 50-day simple moving average is $22.45 and its 200 day simple moving average is $24.83.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.03). During the same quarter last year, the business earned ($0.72) earnings per share. On average, sell-side analysts anticipate that Denali Therapeutics will post -2.73 EPS for the current year.

Insiders Place Their Bets

In other news, insider Carole Ho sold 12,255 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $20.22, for a total transaction of $247,796.10. Following the transaction, the insider now directly owns 178,580 shares in the company, valued at approximately $3,610,887.60. This represents a 6.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alexander O. Schuth sold 15,558 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $29.91, for a total value of $465,339.78. Following the transaction, the insider now owns 178,066 shares in the company, valued at $5,325,954.06. This trade represents a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 64,518 shares of company stock worth $1,469,382 in the last ninety days. 7.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Denali Therapeutics

Several institutional investors have recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of Denali Therapeutics by 9.2% during the 3rd quarter. Wellington Management Group LLP now owns 10,727,450 shares of the company's stock valued at $312,491,000 after purchasing an additional 903,683 shares during the last quarter. FMR LLC boosted its holdings in Denali Therapeutics by 3,234.3% during the 3rd quarter. FMR LLC now owns 7,831,378 shares of the company's stock valued at $228,128,000 after acquiring an additional 7,596,508 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Denali Therapeutics by 63.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,749,486 shares of the company's stock valued at $109,223,000 after acquiring an additional 1,451,770 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Denali Therapeutics by 6.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,417,472 shares of the company's stock valued at $32,913,000 after acquiring an additional 84,522 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Denali Therapeutics by 13.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company's stock valued at $36,076,000 after acquiring an additional 149,939 shares during the period. 92.92% of the stock is currently owned by institutional investors.

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.