Denali Therapeutics (NASDAQ:DNLI) Price Target Lowered to $42.00 at Oppenheimer

Denali Therapeutics (NASDAQ:DNLI) had its price target lowered by Oppenheimer from $50.00 to $42.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Other equities analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Denali Therapeutics in a research report 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 report on Monday, December 16th. HC Wainwright raised their price objective on shares of Denali Therapeutics from $80.00 to $87.00 and gave the stock a “buy” rating in a report on Friday. William Blair reaffirmed an “outperform” rating on shares of Denali Therapeutics in a research note on Friday. Finally, Robert W. Baird initiated coverage on shares of Denali Therapeutics in a report on Tuesday, January 7th. They set an “outperform” rating and a $31.00 price objective for the company. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Denali Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.77.

Denali Therapeutics Price Performance

Shares of DNLI stock opened at $15.20 on Monday. The business has a 50 day simple moving average of $21.29 and a 200 day simple moving average of $24.57. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of -5.51 and a beta of 1.43. Denali Therapeutics has a 12-month low of $14.56 and a 12-month high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last released its earnings results on Thursday, February 27th. The company reported ($0.67) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.08. On average, equities analysts anticipate that Denali Therapeutics will post -2.71 EPS for the current fiscal year.

Insider Activity

In related news, CEO Ryan J. Watts sold 29,266 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $20.22, for a total value of $591,758.52. Following the transaction, the chief executive officer now directly owns 260,721 shares of the company’s stock, valued at approximately $5,271,778.62. The trade was a 10.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Vicki L. Sato sold 3,080 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $20.91, for a total value of $64,402.80. Following the transaction, the director now directly owns 107,976 shares in the company, valued at $2,257,778.16. This represents a 2.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,940 shares of company stock worth $973,442 in the last quarter. 7.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Denali Therapeutics

A number of institutional investors have recently made changes to their positions in DNLI. Sterling Capital Management LLC grew its stake in Denali Therapeutics by 589.9% in the fourth quarter. Sterling Capital Management LLC now owns 1,773 shares of the company’s stock worth $36,000 after purchasing an additional 1,516 shares during the period. GF Fund Management CO. LTD. bought a new position in shares of Denali Therapeutics during the 4th quarter valued at approximately $62,000. Point72 Hong Kong Ltd bought a new stake in Denali Therapeutics during the fourth quarter valued at about $65,000. Quest Partners LLC bought a new position in shares of Denali Therapeutics during the third quarter worth $73,000. Finally, PNC Financial Services Group Inc. increased its position in Denali Therapeutics by 30.5% in the fourth 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. Hedge funds and other institutional investors own 92.92% of the company’s stock.

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.