Denali Therapeutics (NASDAQ:DNLI) Price Target Raised to $87.00

Denali Therapeutics (NASDAQ:DNLI) had its target price upped by HC Wainwright from $80.00 to $87.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. lowered their price objective on Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Baird R W raised shares of Denali Therapeutics to a “strong-buy” rating in a report on Tuesday, January 7th. Jefferies Financial Group raised their price objective on shares of Denali Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Stifel Nicolaus raised shares of Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research note on Monday, December 16th. Finally, William Blair reissued an “outperform” rating on shares of Denali Therapeutics in a research report on Wednesday, January 15th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.42.

Denali Therapeutics Price Performance

NASDAQ DNLI opened at $16.56 on Friday. The company’s fifty day moving average is $21.38 and its two-hundred day moving average is $24.59. Denali Therapeutics has a 52-week low of $14.56 and a 52-week high of $33.33. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of -6.00 and a beta of 1.43.

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

Insider Transactions at Denali Therapeutics

In related news, insider Carole Ho sold 12,255 shares of Denali Therapeutics stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $20.22, for a total value of $247,796.10. Following the completion of the transaction, the insider now directly owns 178,580 shares of the company’s stock, valued at $3,610,887.60. The trade was a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Vicki L. Sato sold 3,080 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $20.91, for a total transaction of $64,402.80. Following the transaction, the director now owns 107,976 shares in the company, valued at $2,257,778.16. The trade was a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,940 shares of company stock valued at $973,442 in the last three months. 7.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Denali Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Rhumbline Advisers lifted its stake in shares of Denali Therapeutics by 0.3% during the fourth quarter. Rhumbline Advisers now owns 190,390 shares of the company’s stock valued at $3,880,000 after acquiring an additional 497 shares during the period. Assetmark Inc. raised its holdings in Denali Therapeutics by 18.0% during the 3rd quarter. Assetmark Inc. now owns 3,808 shares of the company’s stock worth $111,000 after purchasing an additional 580 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Denali Therapeutics by 30.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,790 shares of the company’s stock valued at $77,000 after purchasing an additional 885 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Denali Therapeutics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,178 shares of the company’s stock valued at $152,000 after purchasing an additional 920 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its stake 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 valued at $36,000 after purchasing an additional 1,516 shares during the last quarter. 92.92% of the stock is owned by institutional investors and hedge funds.

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.