Denali Therapeutics (NASDAQ:DNLI) Given New $30.00 Price Target at Wedbush

Denali Therapeutics (NASDAQ:DNLI) had its price target cut by equities research analysts at Wedbush from $31.00 to $30.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s price objective would indicate a potential upside of 56.66% from the company’s previous close.

Other equities analysts have also issued research reports about the company. UBS Group lowered their price target on Denali Therapeutics from $70.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, April 9th. HC Wainwright reiterated a “buy” rating and issued a $95.00 target price on shares of Denali Therapeutics in a research note on Wednesday. The Goldman Sachs Group reduced their price target on shares of Denali Therapeutics from $73.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Finally, Stifel Nicolaus lowered their price objective on Denali Therapeutics from $26.00 to $22.00 and set a “hold” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Denali Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $40.22.

Denali Therapeutics Stock Up 13.6 %

Shares of NASDAQ:DNLI traded up $2.30 on Wednesday, hitting $19.15. The company had a trading volume of 880,093 shares, compared to its average volume of 1,158,718. Denali Therapeutics has a 1 year low of $14.56 and a 1 year high of $33.31. The firm’s 50-day simple moving average is $18.82 and its two-hundred day simple moving average is $18.84. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of -17.64 and a beta of 1.39.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.68) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.01. Denali Therapeutics had a negative net margin of 36.51% and a negative return on equity of 13.50%. During the same period last year, the business posted ($0.80) earnings per share. Equities research analysts anticipate that Denali Therapeutics will post -2.61 EPS for the current year.

Insider Activity at Denali Therapeutics

In other news, Director Vicki L. Sato sold 1,666 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $18.37, for a total value of $30,604.42. Following the completion of the transaction, the director now directly owns 121,375 shares of the company’s stock, valued at approximately $2,229,658.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Steve E. Krognes sold 92,500 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $20.50, for a total value of $1,896,250.00. Following the completion of the transaction, the director now owns 47,341 shares of the company’s stock, valued at approximately $970,490.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Vicki L. Sato sold 1,666 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $18.37, for a total transaction of $30,604.42. Following the sale, the director now directly owns 121,375 shares of the company’s stock, valued at approximately $2,229,658.75. The disclosure for this sale can be found here. Insiders have sold a total of 110,955 shares of company stock valued at $2,218,802 over the last 90 days. 7.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Denali Therapeutics

Institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in Denali Therapeutics by 3.6% during the 3rd quarter. Wellington Management Group LLP now owns 7,288,960 shares of the company’s stock worth $150,371,000 after buying an additional 250,784 shares during the period. Gotham Asset Management LLC purchased a new stake in shares of Denali Therapeutics in the third quarter valued at about $400,000. Eventide Asset Management LLC raised its holdings in shares of Denali Therapeutics by 98.4% in the third quarter. Eventide Asset Management LLC now owns 621,850 shares of the company’s stock worth $12,829,000 after acquiring an additional 308,443 shares during the last quarter. abrdn plc purchased a new stake in shares of Denali Therapeutics during the fourth quarter worth about $6,971,000. Finally, GSA Capital Partners LLP purchased a new position in Denali Therapeutics during the third quarter worth about $772,000. 92.92% of the stock is owned by hedge funds and other institutional investors.

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.