Denali Therapeutics Inc. (NASDAQ:DNLI) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Denali Therapeutics Inc. (NASDAQ:DNLI) has been given an average rating of “Moderate Buy” by the eleven ratings firms that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $38.90.

A number of brokerages have weighed in on DNLI. Raymond James restated a “market perform” rating on shares of Denali Therapeutics in a research note on Thursday, October 10th. Bank of America boosted their price target on Denali Therapeutics from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Citigroup boosted their price objective on Denali Therapeutics from $26.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. dropped their price objective 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. Finally, HC Wainwright reaffirmed a “buy” rating and set a $90.00 target price on shares of Denali Therapeutics in a research report on Thursday, November 7th.

Denali Therapeutics Trading Up 0.3 %

NASDAQ DNLI opened at $24.42 on Thursday. The company has a market capitalization of $3.51 billion, a PE ratio of -8.85 and a beta of 1.40. The business’s 50-day moving average price is $28.07 and its 200 day moving average price is $24.19. Denali Therapeutics has a twelve month low of $14.56 and a twelve month high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings results 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 prior year, the business posted ($0.72) earnings per share. Equities analysts predict that Denali Therapeutics will post -2.69 EPS for the current year.

Insider Buying and Selling at Denali Therapeutics

In other news, Director Vicki L. Sato sold 1,020 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $30.00, for a total value of $30,600.00. Following the completion of the transaction, the director now owns 111,056 shares in the company, valued at $3,331,680. This trade represents a 0.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alexander O. Schuth sold 15,558 shares of Denali Therapeutics stock in a transaction dated Thursday, November 7th. The stock was 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 of the company’s stock, valued at $5,325,954.06. The trade was a 8.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 86,578 shares of company stock valued at $2,474,440 in the last 90 days. 7.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Denali Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC grew its stake in shares of Denali Therapeutics by 101.4% in the third quarter. Barclays PLC now owns 255,883 shares of the company’s stock worth $7,454,000 after purchasing an additional 128,823 shares during the last quarter. Nomura Asset Management Co. Ltd. bought a new stake in Denali Therapeutics during the third quarter valued at $1,894,000. Pier Capital LLC boosted its position in Denali Therapeutics by 1.6% during the third quarter. Pier Capital LLC now owns 168,082 shares of the company’s stock valued at $4,896,000 after acquiring an additional 2,596 shares during the last quarter. Wellington Management Group LLP boosted its position in Denali Therapeutics by 9.2% during the third quarter. Wellington Management Group LLP now owns 10,727,450 shares of the company’s stock valued at $312,491,000 after acquiring an additional 903,683 shares during the last quarter. Finally, Polar Asset Management Partners Inc. boosted its position in Denali Therapeutics by 70.5% during the third quarter. Polar Asset Management Partners Inc. now owns 41,100 shares of the company’s stock valued at $1,197,000 after acquiring an additional 17,000 shares during the last quarter. 92.92% of the stock is currently owned by institutional investors and hedge funds.

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.