The Goldman Sachs Group Has Lowered Expectations for Denali Therapeutics (NASDAQ:DNLI) Stock Price

Denali Therapeutics (NASDAQ:DNLI) had its price target reduced by investment analysts at The Goldman Sachs Group from $45.00 to $40.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 70.87% from the company’s previous close.

A number of other brokerages have also weighed in on DNLI. JPMorgan Chase & Co. decreased their price objective on Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Jefferies Financial Group boosted their price target on shares of Denali Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. HC Wainwright cut their price objective on shares of Denali Therapeutics from $90.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Baird R W upgraded Denali Therapeutics to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, Cantor Fitzgerald cut Denali Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, October 7th. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.00.

Denali Therapeutics Stock Down 0.4 %

DNLI opened at $23.41 on Tuesday. The company has a market cap of $3.37 billion, a PE ratio of -8.48 and a beta of 1.39. Denali Therapeutics has a twelve month low of $14.56 and a twelve month high of $33.33. The company has a 50-day moving average price of $22.46 and a 200 day moving average price of $24.84.

Denali Therapeutics (NASDAQ:DNLI) last announced its earnings results on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.03). During the same quarter last year, the business earned ($0.72) earnings per share. As a group, sell-side analysts expect that Denali Therapeutics will post -2.73 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Steve E. Krognes sold 3,339 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $20.81, for a total transaction of $69,484.59. Following the completion of the transaction, the director now directly owns 25,757 shares in the company, valued at $536,003.17. This trade represents a 11.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Vicki L. Sato sold 1,020 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $30.00, for a total value of $30,600.00. Following the completion of the sale, the director now owns 111,056 shares in the company, valued at $3,331,680. This represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,518 shares of company stock valued at $1,469,382. 7.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Denali Therapeutics

Several institutional investors have recently bought and sold shares of DNLI. Wellington Management Group LLP boosted its stake in shares of Denali Therapeutics by 9.2% in the third 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 period. FMR LLC lifted 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 worth $228,128,000 after buying an additional 7,596,508 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Denali Therapeutics by 63.2% in 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 buying an additional 1,451,770 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Denali Therapeutics by 6.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,417,472 shares of the company’s stock worth $32,913,000 after acquiring an additional 84,522 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Denali Therapeutics by 13.8% during the third quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company’s stock worth $36,076,000 after acquiring an additional 149,939 shares during the period. 92.92% of the stock is 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.