Stifel Nicolaus Lowers Denali Therapeutics (NASDAQ:DNLI) Price Target to $22.00

Denali Therapeutics (NASDAQ:DNLI) had its target price cut by equities research analysts at Stifel Nicolaus from $26.00 to $22.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 16.71% from the stock’s previous close.

DNLI has been the topic of several other research reports. The Goldman Sachs Group reduced their price target on shares of Denali Therapeutics from $73.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. UBS Group dropped their price objective on shares of Denali Therapeutics from $70.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday, April 9th. Wedbush reissued an “outperform” rating and issued a $31.00 price objective on shares of Denali Therapeutics in a research note on Wednesday, February 28th. Finally, HC Wainwright cut their price target on shares of Denali Therapeutics from $105.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday, February 28th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Denali Therapeutics has an average rating of “Moderate Buy” and an average price target of $40.22.

Denali Therapeutics Trading Up 1.0 %

Shares of NASDAQ:DNLI traded up $0.18 on Wednesday, reaching $18.85. 43,017 shares of the company’s stock were exchanged, compared to its average volume of 1,165,063. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of -17.29 and a beta of 1.39. The company has a fifty day moving average of $18.77 and a 200-day moving average of $18.84. Denali Therapeutics has a twelve month low of $14.56 and a twelve month high of $33.31.

Denali Therapeutics (NASDAQ:DNLI) last posted its quarterly 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 quarter last year, the business posted ($0.80) EPS. As a group, equities research analysts forecast that Denali Therapeutics will post -2.61 EPS for the current fiscal year.

Insider Transactions at Denali Therapeutics

In other news, insider Carole Ho sold 2,784 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $17.29, for a total transaction of $48,135.36. Following the transaction, the insider now owns 145,010 shares of the company’s stock, valued at approximately $2,507,222.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Denali Therapeutics news, Director Vicki L. Sato sold 1,666 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $18.37, for a total value of $30,604.42. Following the completion of the sale, the director now owns 121,375 shares in the company, valued at approximately $2,229,658.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Carole Ho sold 2,784 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $17.29, for a total transaction of $48,135.36. Following the completion of the sale, the insider now owns 145,010 shares of the company’s stock, valued at approximately $2,507,222.90. The disclosure for this sale can be found here. Insiders have sold 110,955 shares of company stock valued at $2,218,802 in the last 90 days. 7.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Denali Therapeutics

Several large investors have recently modified their holdings of DNLI. Wellington Management Group LLP boosted its holdings in Denali Therapeutics by 3.6% in the 3rd quarter. Wellington Management Group LLP now owns 7,288,960 shares of the company’s stock worth $150,371,000 after buying an additional 250,784 shares during the period. Gotham Asset Management LLC purchased a new position in Denali Therapeutics in the 3rd quarter valued at approximately $400,000. Eventide Asset Management LLC grew its stake in Denali Therapeutics by 98.4% in the 3rd quarter. Eventide Asset Management LLC now owns 621,850 shares of the company’s stock valued at $12,829,000 after buying an additional 308,443 shares in the last quarter. abrdn plc purchased a new position in Denali Therapeutics in the 4th quarter valued at approximately $6,971,000. Finally, GSA Capital Partners LLP purchased a new position in Denali Therapeutics in the 3rd quarter valued at approximately $772,000. Hedge funds and other 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.