Denali Therapeutics (NASDAQ:DNLI) Price Target Cut to $87.00 by Analysts at HC Wainwright

Denali Therapeutics (NASDAQ:DNLI) had its target price decreased by equities researchers at HC Wainwright from $90.00 to $87.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price points to a potential upside of 338.95% from the company’s current price.

Several other research analysts also recently issued reports on DNLI. 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 note on Monday, December 16th. Jefferies Financial Group upped their price target on shares of Denali Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. cut their price target on shares of Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Raymond James restated a “market perform” rating on shares of Denali Therapeutics in a report on Thursday, October 10th. Finally, William Blair initiated coverage on Denali Therapeutics in a report on Friday. They set an “outperform” rating on the stock. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Denali Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $39.27.

Denali Therapeutics Stock Performance

NASDAQ DNLI opened at $19.82 on Tuesday. The firm’s fifty day moving average price is $24.46 and its two-hundred day moving average price is $24.89. The stock has a market cap of $2.85 billion, a PE ratio of -7.18 and a beta of 1.39. Denali Therapeutics has a fifty-two week low of $14.56 and a fifty-two week high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.03). During the same period last year, the company posted ($0.72) earnings per share. As a group, sell-side analysts predict that Denali Therapeutics will post -2.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Alexander O. Schuth sold 15,558 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $29.91, for a total transaction of $465,339.78. Following the transaction, the insider now owns 178,066 shares of the company’s stock, valued at $5,325,954.06. This represents a 8.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan J. Watts sold 40,000 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $27.69, for a total value of $1,107,600.00. Following the completion of the sale, the chief executive officer now directly owns 235,807 shares of the company’s stock, valued at $6,529,495.83. The trade was a 14.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,658 shares of company stock worth $1,667,943. 7.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Denali Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its holdings in shares of Denali Therapeutics by 13.3% in the 2nd quarter. Rhumbline Advisers now owns 194,859 shares of the company’s stock worth $4,525,000 after purchasing an additional 22,900 shares in the last quarter. TD Asset Management Inc lifted its stake in shares of Denali Therapeutics by 4.5% in the second quarter. TD Asset Management Inc now owns 179,152 shares of the company’s stock valued at $4,160,000 after buying an additional 7,766 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Denali Therapeutics by 9.0% during the second quarter. Arizona State Retirement System now owns 33,114 shares of the company’s stock valued at $769,000 after buying an additional 2,730 shares during the last quarter. American Century Companies Inc. increased its position in shares of Denali Therapeutics by 13.7% during the second quarter. American Century Companies Inc. now owns 522,594 shares of the company’s stock worth $12,135,000 after acquiring an additional 63,058 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Denali Therapeutics by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,417,472 shares of the company’s stock worth $32,913,000 after acquiring an additional 84,522 shares during the last quarter. 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.