Denali Therapeutics (NASDAQ:DNLI) Given New $28.00 Price Target at Bank of America

Denali Therapeutics (NASDAQ:DNLI) had its price target lowered by Bank of America from $30.00 to $28.00 in a report issued on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research analysts also recently commented on DNLI. B. Riley reiterated a “buy” rating and issued a $35.00 target price (down previously from $38.00) on shares of Denali Therapeutics in a report on Wednesday, March 5th. Stifel Nicolaus raised Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Monday, December 16th. William Blair reaffirmed an “outperform” rating on shares of Denali Therapeutics in a report on Friday, February 28th. HC Wainwright upped their price target on Denali Therapeutics from $80.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, Robert W. Baird initiated coverage on shares of Denali Therapeutics in a research note on Tuesday, January 7th. They issued an “outperform” rating and a $31.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Denali Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $37.20.

Denali Therapeutics Price Performance

Denali Therapeutics stock opened at $14.95 on Monday. Denali Therapeutics has a one year low of $14.01 and a one year high of $33.33. The company’s fifty day moving average price is $20.80 and its two-hundred day moving average price is $24.30. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of -5.42 and a beta of 1.46.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.67) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.08. As a group, sell-side analysts anticipate that Denali Therapeutics will post -2.71 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Vicki L. Sato sold 3,080 shares of Denali Therapeutics stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $20.91, for a total value of $64,402.80. Following the completion of the sale, the director now directly owns 107,976 shares of the company’s stock, valued at approximately $2,257,778.16. This trade represents a 2.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steve E. Krognes sold 3,339 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $20.81, for a total value of $69,484.59. Following 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 47,940 shares of company stock valued at $973,442 in the last 90 days. 7.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Sterling Capital Management LLC boosted its position in shares of Denali Therapeutics by 589.9% in the 4th 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 last quarter. Quest Partners LLC bought a new stake in Denali Therapeutics in the third quarter valued at about $73,000. GF Fund Management CO. LTD. acquired a new position in Denali Therapeutics in the fourth quarter valued at about $62,000. Point72 Hong Kong Ltd bought a new position in Denali Therapeutics during the fourth quarter worth about $65,000. Finally, PNC Financial Services Group Inc. grew its position in shares of Denali Therapeutics by 30.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,790 shares of the company’s stock worth $77,000 after buying an additional 885 shares during the period. 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.