Brokerages Set Denali Therapeutics Inc. (NASDAQ:DNLI) Price Target at $37.20

Shares of Denali Therapeutics Inc. (NASDAQ:DNLI) have been assigned a consensus recommendation of “Moderate Buy” from the eighteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $37.20.

Several equities research analysts have commented on the stock. Oppenheimer dropped their price target on shares of Denali Therapeutics from $50.00 to $42.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on Denali Therapeutics in a research note on Tuesday, February 11th. They set a “buy” rating and a $31.00 target price on the stock. Stifel Nicolaus raised Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research note on Monday, December 16th. JPMorgan Chase & Co. cut their price objective on shares of 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, William Blair reiterated an “outperform” rating on shares of Denali Therapeutics in a research report on Friday, February 28th.

Insiders Place Their Bets

In other news, insider Carole Ho sold 12,255 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $20.22, for a total value of $247,796.10. Following the completion of the sale, the insider now owns 178,580 shares of the company’s stock, valued at $3,610,887.60. This trade represents a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Vicki L. Sato sold 3,080 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $20.91, for a total transaction of $64,402.80. Following the completion of the sale, the director now directly owns 107,976 shares of the company’s stock, valued at $2,257,778.16. This trade represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,940 shares of company stock worth $973,442 over the last ninety days. 7.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Sterling Capital Management LLC increased its holdings in shares of Denali Therapeutics by 589.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,773 shares of the company’s stock valued at $36,000 after acquiring an additional 1,516 shares during the last quarter. Quest Partners LLC bought a new stake in Denali Therapeutics during the third quarter valued at about $73,000. GF Fund Management CO. LTD. acquired a new stake in shares of Denali Therapeutics in the fourth quarter valued at about $62,000. Point72 Hong Kong Ltd bought a new position in shares of Denali Therapeutics in the fourth quarter worth about $65,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of Denali Therapeutics by 30.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,790 shares of the company’s stock worth $77,000 after purchasing an additional 885 shares during the last quarter. Institutional investors own 92.92% of the company’s stock.

Denali Therapeutics Trading Down 9.6 %

Shares of NASDAQ DNLI opened at $12.29 on Wednesday. The company has a market cap of $1.78 billion, a price-to-earnings ratio of -4.45 and a beta of 1.46. The stock’s 50 day simple moving average is $18.67 and its 200 day simple moving average is $22.97. Denali Therapeutics has a 12-month low of $12.05 and a 12-month high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.67) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.75) by $0.08. As a group, equities analysts forecast that Denali Therapeutics will post -2.71 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.