JPMorgan Chase & Co. Cuts Denali Therapeutics (NASDAQ:DNLI) Price Target to $24.00

Denali Therapeutics (NASDAQ:DNLI) had its target price reduced by JPMorgan Chase & Co. from $28.00 to $24.00 in a research note published on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

DNLI has been the topic of a number of other reports. HC Wainwright decreased their price target on Denali Therapeutics from $90.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday. Robert W. Baird started coverage on shares of Denali Therapeutics in a research report on Tuesday. They issued an “outperform” rating and a $31.00 target price on the stock. Jefferies Financial Group upped 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. Stifel Nicolaus upgraded shares of Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a report on Monday, December 16th. Finally, Cantor Fitzgerald downgraded Denali Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, October 7th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.91.

Denali Therapeutics Price Performance

Denali Therapeutics stock opened at $21.25 on Tuesday. The stock has a market capitalization of $3.06 billion, a P/E ratio of -7.70 and a beta of 1.39. Denali Therapeutics has a 12-month low of $14.56 and a 12-month high of $33.33. The firm’s 50-day moving average is $24.23 and its two-hundred day moving average is $24.86.

Denali Therapeutics (NASDAQ:DNLI) last announced its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.03). During the same period in the previous year, the business posted ($0.72) EPS. As a group, analysts forecast that Denali Therapeutics will post -2.71 EPS for the current year.

Insider Buying and Selling at Denali Therapeutics

In related news, Director Vicki L. Sato sold 1,020 shares of the company’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 sale, the director now directly owns 111,056 shares of the company’s stock, valued at $3,331,680. This represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ryan J. Watts sold 40,000 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $27.69, for a total transaction of $1,107,600.00. Following the transaction, the chief executive officer now directly owns 235,807 shares of the company’s stock, valued at approximately $6,529,495.83. This represents a 14.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,518 shares of company stock valued at $2,576,982 over the last 90 days. 7.90% of the stock is owned by corporate insiders.

Institutional Trading of Denali Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted 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 worth $6,857,000 after buying an additional 14,324 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Denali Therapeutics by 13.8% in 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 last quarter. Franklin Resources Inc. boosted its stake in Denali Therapeutics by 3.8% in the third quarter. Franklin Resources Inc. now owns 80,041 shares of the company’s stock valued at $2,148,000 after acquiring an additional 2,901 shares during the period. Barclays PLC grew its holdings in shares of Denali Therapeutics by 101.4% during the third quarter. Barclays PLC now owns 255,883 shares of the company’s stock valued at $7,454,000 after purchasing an additional 128,823 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. acquired a new stake in shares of Denali Therapeutics during the 3rd quarter worth approximately $1,894,000. Institutional investors and hedge funds 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.