HC Wainwright Cuts Denali Therapeutics (NASDAQ:DNLI) Price Target to $32.00

Denali Therapeutics (NASDAQ:DNLI) had its price target lowered by HC Wainwright from $80.00 to $32.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also issued research reports about the stock. Bank of America reduced their price objective on shares of Denali Therapeutics from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, March 10th. William Blair raised Denali Therapeutics to a “strong-buy” rating in a research report on Thursday, April 24th. Cantor Fitzgerald upgraded Denali Therapeutics from a “neutral” rating to an “overweight” rating in a research note on Thursday, April 10th. Morgan Stanley started coverage on shares of Denali Therapeutics in a research note on Friday, March 7th. They set an “overweight” rating and a $33.00 price target on the stock. Finally, Oppenheimer lowered their price objective on shares of Denali Therapeutics from $50.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Denali Therapeutics currently has an average rating of “Buy” and a consensus price target of $33.79.

Denali Therapeutics Price Performance

NASDAQ:DNLI opened at $14.39 on Wednesday. The firm has a market cap of $2.09 billion, a PE ratio of -5.21 and a beta of 1.49. The company has a 50-day moving average of $14.27 and a 200 day moving average of $20.08. Denali Therapeutics has a 1-year low of $10.57 and a 1-year high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.07). During the same period in the prior year, the company earned ($0.68) EPS. Sell-side analysts anticipate that Denali Therapeutics will post -2.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Barclays PLC raised its stake in Denali Therapeutics by 101.4% in the 3rd 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. Franklin Resources Inc. raised its position in shares of 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 buying an additional 2,901 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of 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 buying an additional 149,939 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Denali Therapeutics by 6.5% during the third quarter. JPMorgan Chase & Co. now owns 235,386 shares of the company’s stock worth $6,857,000 after acquiring an additional 14,324 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in Denali Therapeutics by 128.8% during the 4th quarter. SG Americas Securities LLC now owns 11,003 shares of the company’s stock valued at $224,000 after acquiring an additional 6,195 shares in the last quarter. Institutional investors and hedge funds 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.