BTIG Research Reiterates Buy Rating for Denali Therapeutics (NASDAQ:DNLI)

Denali Therapeutics (NASDAQ:DNLI)‘s stock had its “buy” rating reaffirmed by stock analysts at BTIG Research in a research note issued to investors on Friday,Benzinga reports. They currently have a $32.00 price objective on the stock. BTIG Research’s target price indicates a potential upside of 59.84% from the stock’s current price.

Other analysts have also recently issued reports about the stock. UBS Group initiated coverage on shares of Denali Therapeutics in a research note on Wednesday, January 7th. They set a “buy” rating on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Denali Therapeutics in a research report on Wednesday, January 21st. JPMorgan Chase & Co. raised their price target on Denali Therapeutics from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. Stifel Nicolaus set a $37.00 price objective on Denali Therapeutics in a research note on Monday, November 17th. Finally, Wedbush cut their price target on Denali Therapeutics from $31.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, December 11th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $32.17.

Denali Therapeutics Stock Performance

Denali Therapeutics stock opened at $20.02 on Friday. Denali Therapeutics has a 52-week low of $10.57 and a 52-week high of $23.78. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.79 and a quick ratio of 9.79. The stock has a fifty day moving average price of $18.44 and a two-hundred day moving average price of $16.38. The firm has a market capitalization of $2.94 billion, a P/E ratio of -6.88 and a beta of 1.02.

Denali Therapeutics (NASDAQ:DNLI) last posted its earnings results on Thursday, November 6th. The company reported ($0.74) earnings per share for the quarter, topping the consensus estimate of ($0.76) by $0.02. During the same quarter in the prior year, the business posted ($0.63) earnings per share. The company’s quarterly revenue was up .0% on a year-over-year basis. As a group, analysts anticipate that Denali Therapeutics will post -2.71 EPS for the current fiscal year.

Insider Activity

In other news, insider Alexander O. Schuth sold 17,218 shares of Denali Therapeutics stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $16.50, for a total transaction of $284,097.00. Following the completion of the sale, the insider owned 282,828 shares in the company, valued at $4,666,662. The trade was a 5.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan J. Watts sold 35,198 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $16.50, for a total transaction of $580,767.00. Following the sale, the chief executive officer directly owned 296,833 shares of the company’s stock, valued at approximately $4,897,744.50. This trade represents a 10.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 12.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Denali Therapeutics

Several institutional investors have recently modified their holdings of DNLI. Headlands Technologies LLC acquired a new stake in shares of Denali Therapeutics in the 2nd quarter valued at approximately $26,000. Johnson Financial Group Inc. bought a new stake in Denali Therapeutics in the third quarter valued at approximately $29,000. State of Wyoming acquired a new stake in Denali Therapeutics in the second quarter worth $29,000. Quarry LP bought a new position in shares of Denali Therapeutics during the third quarter worth $64,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Denali Therapeutics by 15.5% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,612 shares of the company’s stock valued at $79,000 after buying an additional 753 shares during the period. 92.92% of the stock is currently owned by institutional investors and hedge funds.

Denali Therapeutics Company Profile

Denali Therapeutics is a clinical‐stage biopharmaceutical company focused on developing therapies for neurodegenerative diseases. The company’s research leverages a proprietary Blood–Brain Barrier Transport Vehicle (TV) platform designed to enable large molecules, including antibodies and enzymes, to penetrate the central nervous system. Denali’s approach includes small molecules, monoclonal antibodies and gene therapy candidates aimed at key drivers of disorders such as Alzheimer’s disease, Parkinson’s disease, amyotrophic lateral sclerosis (ALS) and frontotemporal dementia.

Among Denali’s lead programs is an orally delivered leucine‐rich repeat kinase 2 (LRRK2) inhibitor for Parkinson’s disease, and an anti‐TREM2 antibody designed to modulate microglial activity in Alzheimer’s patients.