Denali Therapeutics (NASDAQ:DNLI) Given New $29.00 Price Target at Robert W. Baird

Denali Therapeutics (NASDAQ:DNLI) had its target price dropped by stock analysts at Robert W. Baird from $30.00 to $29.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price points to a potential upside of 101.53% from the company’s current price.

DNLI has been the topic of several other reports. The Goldman Sachs Group decreased 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. HC Wainwright lowered their price target on shares of Denali Therapeutics from $80.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday. Cantor Fitzgerald upgraded shares of Denali Therapeutics from a “neutral” rating to an “overweight” rating in a research report on Thursday, April 10th. Wedbush decreased their target price on Denali Therapeutics from $32.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Bank of America reduced their price target on Denali Therapeutics from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, March 10th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Denali Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $33.79.

Denali Therapeutics Price Performance

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

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

Hedge Funds Weigh In On Denali Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of DNLI. Norges Bank acquired a new stake in Denali Therapeutics in the fourth quarter valued at about $21,717,000. Vanguard Group Inc. increased its position in Denali Therapeutics by 7.6% during the 4th quarter. Vanguard Group Inc. now owns 12,021,230 shares of the company’s stock worth $244,993,000 after purchasing an additional 843,996 shares in the last quarter. Polar Asset Management Partners Inc. boosted its position in Denali Therapeutics by 1,240.9% in the fourth quarter. Polar Asset Management Partners Inc. now owns 551,092 shares of the company’s stock valued at $11,231,000 after buying an additional 509,992 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in shares of Denali Therapeutics by 822.4% during the fourth quarter. Balyasny Asset Management L.P. now owns 416,074 shares of the company’s stock worth $8,480,000 after buying an additional 370,966 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Denali Therapeutics by 571.8% during the fourth quarter. Millennium Management LLC now owns 404,224 shares of the company’s stock worth $8,238,000 after buying an additional 344,056 shares in the last quarter. Institutional investors own 92.92% of the company’s stock.

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.