Denali Therapeutics (NASDAQ:DNLI) Price Target Cut to $30.00 by Analysts at Wedbush

Denali Therapeutics (NASDAQ:DNLI) had its target price decreased by Wedbush from $31.00 to $30.00 in a report published on Wednesday morning, Benzinga reports. Wedbush currently has an outperform rating on the stock.

A number of other research analysts have also recently issued reports on DNLI. UBS Group reduced their price objective on Denali Therapeutics from $70.00 to $32.00 and set a buy rating on the stock in a research note on Tuesday, April 9th. Stifel Nicolaus lowered their price objective on Denali Therapeutics from $26.00 to $22.00 and set a hold rating for the company in a research report on Wednesday. The Goldman Sachs Group cut their target price on shares of Denali Therapeutics from $73.00 to $50.00 and set a buy rating on the stock in a report on Thursday, February 29th. Finally, HC Wainwright reaffirmed a buy rating and issued a $95.00 target price on shares of Denali Therapeutics in a research note on Wednesday. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $40.22.

Denali Therapeutics Stock Down 0.8 %

Shares of DNLI stock traded down $0.16 on Wednesday, reaching $18.74. The company’s stock had a trading volume of 75,423 shares, compared to its average volume of 1,167,723. The company has a market capitalization of $2.67 billion, a P/E ratio of -17.50 and a beta of 1.39. The stock’s 50 day simple moving average is $18.80 and its 200-day simple moving average is $18.84. Denali Therapeutics has a 12-month low of $14.56 and a 12-month high of $33.31.

Denali Therapeutics (NASDAQ:DNLI) last announced its earnings results on Tuesday, May 7th. The company reported ($0.68) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.01. Denali Therapeutics had a negative net margin of 36.51% and a negative return on equity of 13.50%. During the same period last year, the firm earned ($0.80) earnings per share. Research analysts expect that Denali Therapeutics will post -2.61 EPS for the current year.

Insider Activity

In other Denali Therapeutics news, Director Steve E. Krognes sold 92,500 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $20.50, for a total value of $1,896,250.00. Following the completion of the transaction, the director now owns 47,341 shares in the company, valued at $970,490.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Denali Therapeutics news, Director Steve E. Krognes sold 92,500 shares of Denali Therapeutics stock in a transaction on Monday, April 1st. The stock was sold at an average price of $20.50, for a total transaction of $1,896,250.00. Following the completion of the transaction, the director now owns 47,341 shares in the company, valued at $970,490.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Vicki L. Sato sold 1,666 shares of Denali Therapeutics stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $18.29, for a total value of $30,471.14. Following the completion of the transaction, the director now directly owns 118,043 shares of the company’s stock, valued at approximately $2,159,006.47. The disclosure for this sale can be found here. Insiders sold a total of 110,955 shares of company stock worth $2,218,802 in the last quarter. 7.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Denali Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. CWM LLC boosted its stake in Denali Therapeutics by 216.7% during the 4th quarter. CWM LLC now owns 2,011 shares of the company’s stock valued at $43,000 after purchasing an additional 1,376 shares during the last quarter. Assetmark Inc. boosted its position in shares of Denali Therapeutics by 49.1% during the third quarter. Assetmark Inc. now owns 2,148 shares of the company’s stock valued at $44,000 after buying an additional 707 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Denali Therapeutics by 48.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,486 shares of the company’s stock worth $53,000 after buying an additional 807 shares in the last quarter. Fisher Asset Management LLC purchased a new position in Denali Therapeutics in the 4th quarter worth about $59,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in Denali Therapeutics by 96.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,526 shares of the company’s stock valued at $73,000 after acquiring an additional 1,732 shares during the period. 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.