B. Riley Reaffirms Buy Rating for Denali Therapeutics (NASDAQ:DNLI)

Denali Therapeutics (NASDAQ:DNLI)‘s stock had its “buy” rating reaffirmed by investment analysts at B. Riley in a research report issued on Wednesday,Benzinga reports. They currently have a $35.00 target price on the stock, down from their prior target price of $38.00. B. Riley’s target price would suggest a potential upside of 115.12% from the stock’s current price. B. Riley also issued estimates for Denali Therapeutics’ FY2029 earnings at $0.87 EPS.

A number of other research firms also recently 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. Deutsche Bank Aktiengesellschaft started coverage on Denali Therapeutics in a report on Tuesday, February 11th. They set a “buy” rating and a $31.00 price objective on the stock. The Goldman Sachs Group decreased their price objective on Denali Therapeutics from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. HC Wainwright lifted their price objective on Denali Therapeutics from $80.00 to $87.00 and gave the company a “buy” rating in a report on Friday, February 28th. Finally, Oppenheimer decreased their price objective on Denali Therapeutics from $50.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.57.

Denali Therapeutics Stock Down 0.2 %

Shares of DNLI opened at $16.27 on Wednesday. Denali Therapeutics has a 12-month low of $14.01 and a 12-month high of $33.33. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of -5.89 and a beta of 1.43. The stock’s 50-day moving average price is $20.98 and its 200 day moving average price is $24.41.

Denali Therapeutics (NASDAQ:DNLI) last issued 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. Equities research analysts expect that Denali Therapeutics will post -2.71 EPS for the current year.

Insider Buying and Selling

In other Denali Therapeutics news, CEO Ryan J. Watts sold 29,266 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $20.22, for a total transaction of $591,758.52. Following the completion of the sale, the chief executive officer now owns 260,721 shares in the company, valued at approximately $5,271,778.62. The trade was a 10.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Carole Ho sold 12,255 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $20.22, for a total transaction of $247,796.10. Following the sale, the insider now owns 178,580 shares of the company’s stock, valued at $3,610,887.60. The trade was a 6.42 % 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. Insiders own 7.90% of the company’s stock.

Institutional Trading of Denali Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. raised its position in shares of Denali Therapeutics by 163.7% during the 3rd quarter. Victory Capital Management Inc. now owns 39,900 shares of the company’s stock valued at $1,162,000 after acquiring an additional 24,767 shares during the last quarter. FMR LLC increased its position in shares of Denali Therapeutics by 3,234.3% in the 3rd quarter. FMR LLC now owns 7,831,378 shares of the company’s stock valued at $228,128,000 after buying an additional 7,596,508 shares in the last quarter. Algert Global LLC increased its position in shares of Denali Therapeutics by 82.4% in the 3rd quarter. Algert Global LLC now owns 48,630 shares of the company’s stock valued at $1,417,000 after buying an additional 21,975 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Denali Therapeutics by 6.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 235,386 shares of the company’s stock valued at $6,857,000 after buying an additional 14,324 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Denali Therapeutics by 13.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company’s stock valued at $36,076,000 after buying an additional 149,939 shares in the last quarter. Institutional investors own 92.92% of the company’s stock.

Denali Therapeutics Company Profile

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.