Denali Therapeutics (NASDAQ:DNLI) Price Target Raised to $26.00

Denali Therapeutics (NASDAQ:DNLI) had its price objective upped by equities researchers at JPMorgan Chase & Co. from $24.00 to $26.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 71.11% from the stock’s current price.

Other equities research analysts have also issued reports about the company. TD Cowen raised Denali Therapeutics to a “strong-buy” rating in a research report on Monday, July 28th. Cantor Fitzgerald reissued an “overweight” rating on shares of Denali Therapeutics in a research report on Monday, September 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Denali Therapeutics in a research report on Wednesday, October 8th. Finally, Morgan Stanley lowered their price target on Denali Therapeutics from $33.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, August 18th. Three research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $32.64.

Denali Therapeutics Trading Down 1.1%

DNLI stock traded down $0.17 during trading on Tuesday, hitting $15.20. The company had a trading volume of 181,402 shares, compared to its average volume of 1,542,261. The business has a 50-day moving average of $15.13 and a 200-day moving average of $14.66. Denali Therapeutics has a one year low of $10.57 and a one year high of $33.33. The stock has a market cap of $2.22 billion, a PE ratio of -5.43 and a beta of 1.39. The company has a current ratio of 10.27, a quick ratio of 10.27 and a debt-to-equity ratio of 0.01.

Denali Therapeutics (NASDAQ:DNLI) last posted its quarterly earnings results on Monday, August 11th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.02. During the same period in the prior year, the firm earned ($0.59) EPS. Research analysts predict that Denali Therapeutics will post -2.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Denali Therapeutics

In other Denali Therapeutics news, insider Carole Ho sold 2,937 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $13.58, for a total value of $39,884.46. Following the completion of the transaction, the insider owned 217,391 shares in the company, valued at $2,952,169.78. This trade represents a 1.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alexander O. Schuth sold 2,937 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $13.58, for a total value of $39,884.46. Following the completion of the transaction, the insider owned 242,346 shares of the company’s stock, valued at approximately $3,291,058.68. This represents a 1.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 6,680 shares of company stock valued at $91,569 in the last quarter. 12.50% of the stock is owned by corporate insiders.

Institutional Trading of Denali Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of DNLI. Norges Bank purchased a new stake in shares of Denali Therapeutics in the 2nd quarter valued at about $55,224,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Denali Therapeutics by 88.9% in the 1st 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 in the last quarter. Wellington Management Group LLP raised its holdings in shares of Denali Therapeutics by 15.9% in the 1st quarter. Wellington Management Group LLP now owns 11,409,598 shares of the company’s stock valued at $155,113,000 after acquiring an additional 1,561,647 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings 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 acquiring an additional 1,308,619 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Denali Therapeutics by 269.4% in the 1st quarter. Millennium Management LLC now owns 1,493,068 shares of the company’s stock valued at $20,298,000 after acquiring an additional 1,088,844 shares in the last quarter. Hedge funds and other 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.