Bank of America Cuts Denali Therapeutics (NASDAQ:DNLI) Price Target to $27.00

Denali Therapeutics (NASDAQ:DNLI) had its price objective reduced by equities research analysts at Bank of America from $28.00 to $27.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price objective suggests a potential upside of 94.24% from the stock’s previous close.

DNLI has been the subject of a number of other research reports. Robert W. Baird cut their price objective on Denali Therapeutics from $30.00 to $29.00 and set an “outperform” rating for the company in a research report on Thursday, May 8th. Morgan Stanley began coverage on shares of Denali Therapeutics in a research note on Friday, March 7th. They issued an “overweight” rating and a $33.00 price objective for the company. B. Riley reaffirmed a “buy” rating and set a $35.00 target price (down from $38.00) on shares of Denali Therapeutics in a research report on Wednesday, March 5th. Cantor Fitzgerald raised shares of Denali Therapeutics from a “neutral” rating to an “overweight” rating in a report on Thursday, April 10th. Finally, The Goldman Sachs Group cut their price objective on shares of Denali Therapeutics from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Denali Therapeutics has a consensus rating of “Buy” and a consensus target price of $33.71.

Denali Therapeutics Price Performance

Shares of NASDAQ:DNLI traded up $0.12 during midday trading on Monday, hitting $13.90. The company had a trading volume of 323,976 shares, compared to its average volume of 1,094,245. The company has a market cap of $2.02 billion, a price-to-earnings ratio of -5.04 and a beta of 1.49. Denali Therapeutics has a 12-month low of $10.57 and a 12-month high of $33.33. The company has a fifty day moving average of $14.11 and a two-hundred day moving average of $19.55.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.07). During the same period last year, the firm posted ($0.68) earnings per share. Research analysts expect that Denali Therapeutics will post -2.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. SCS Capital Management LLC acquired a new position in shares of Denali Therapeutics during the 1st quarter worth about $2,692,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Denali Therapeutics by 88.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,766,916 shares of the company’s stock worth $91,996,000 after purchasing an additional 3,184,042 shares in the last quarter. Woodline Partners LP lifted its stake in Denali Therapeutics by 13.5% in the 1st quarter. Woodline Partners LP now owns 113,517 shares of the company’s stock worth $1,543,000 after purchasing an additional 13,517 shares in the last quarter. Empowered Funds LLC lifted its stake in Denali Therapeutics by 11.0% in the 1st quarter. Empowered Funds LLC now owns 20,639 shares of the company’s stock worth $281,000 after purchasing an additional 2,052 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Denali Therapeutics by 58.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,672,078 shares of the company’s stock worth $22,732,000 after purchasing an additional 614,555 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.