Denali Therapeutics Inc. (NASDAQ:DNLI) Given Average Rating of “Buy” by Analysts

Shares of Denali Therapeutics Inc. (NASDAQ:DNLI) have received an average rating of “Buy” from the seventeen analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, fourteen have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $33.71.

A number of research analysts have issued reports on the company. Wedbush cut their price objective on Denali Therapeutics from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. The Goldman Sachs Group cut their price target on shares of Denali Therapeutics from $45.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Oppenheimer decreased their price objective on shares of Denali Therapeutics from $50.00 to $42.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Robert W. Baird dropped their price objective on shares of Denali Therapeutics from $30.00 to $29.00 and set an “outperform” rating for the company in a report on Thursday, May 8th. Finally, William Blair raised Denali Therapeutics to a “strong-buy” rating in a report on Thursday, April 24th.

Denali Therapeutics Stock Down 4.2%

Shares of DNLI opened at $13.69 on Thursday. The company has a 50-day moving average price of $14.02 and a two-hundred day moving average price of $19.38. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of -4.96 and a beta of 1.49. Denali Therapeutics has a 12 month low of $10.57 and a 12 month high of $33.33.

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

Institutional Investors Weigh In On Denali Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Denali Therapeutics by 88.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,766,916 shares of the company’s stock valued at $91,996,000 after acquiring an additional 3,184,042 shares during the last quarter. Wellington Management Group LLP lifted its position in Denali Therapeutics by 15.9% during the 1st quarter. Wellington Management Group LLP now owns 11,409,598 shares of the company’s stock valued at $155,113,000 after purchasing an additional 1,561,647 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Denali Therapeutics by 42.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,367,234 shares of the company’s stock valued at $59,373,000 after purchasing an additional 1,308,619 shares during the last quarter. Millennium Management LLC grew its position in shares of Denali Therapeutics by 269.4% during the 1st quarter. Millennium Management LLC now owns 1,493,068 shares of the company’s stock worth $20,298,000 after buying an additional 1,088,844 shares during the period. Finally, Norges Bank acquired a new stake in shares of Denali Therapeutics during the 4th quarter worth approximately $21,717,000. Institutional investors 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.