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

Denali Therapeutics Inc. (NASDAQ:DNLI) has been given a consensus rating of “Moderate Buy” by the fourteen brokerages that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $38.00.

DNLI has been the subject of several research reports. HC Wainwright reduced their price target on shares of Denali Therapeutics from $90.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Jefferies Financial Group boosted their price objective on shares of Denali Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 1st. The Goldman Sachs Group dropped their price objective on shares of Denali Therapeutics from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Raymond James reissued a “market perform” rating on shares of Denali Therapeutics in a research note on Thursday, October 10th. Finally, Cantor Fitzgerald cut shares of Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, October 7th.

Insider Activity

In other Denali Therapeutics news, Director Vicki L. Sato sold 1,020 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $30.00, for a total transaction of $30,600.00. Following the completion of the transaction, the director now directly owns 111,056 shares in the company, valued at approximately $3,331,680. This trade represents a 0.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Steve E. Krognes sold 3,339 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $20.81, for a total transaction of $69,484.59. Following the transaction, the director now owns 25,757 shares of the company’s stock, valued at $536,003.17. This trade represents a 11.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,518 shares of company stock worth $1,469,382 in the last 90 days. 7.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Denali Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its holdings in 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 acquiring an additional 903,683 shares in the last quarter. FMR LLC boosted its stake in shares of 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 purchasing an additional 7,596,508 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of 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 worth $109,223,000 after purchasing an additional 1,451,770 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Denali Therapeutics by 13.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company’s stock worth $36,076,000 after purchasing an additional 149,939 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Denali Therapeutics by 58.7% during the 2nd quarter. Millennium Management LLC now owns 619,929 shares of the company’s stock worth $14,395,000 after purchasing an additional 229,313 shares during the last quarter. 92.92% of the stock is currently owned by hedge funds and other institutional investors.

Denali Therapeutics Price Performance

DNLI stock opened at $21.84 on Tuesday. The company has a fifty day moving average price of $22.37 and a 200 day moving average price of $24.85. Denali Therapeutics has a 12 month low of $14.56 and a 12 month high of $33.33. The company has a market cap of $3.14 billion, a price-to-earnings ratio of -7.91 and a beta of 1.43.

Denali Therapeutics (NASDAQ:DNLI) last released 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 quarter in the previous year, the firm posted ($0.72) EPS. As a group, analysts anticipate that Denali Therapeutics will post -2.74 earnings per share for the current 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.