Wedbush Cuts Denali Therapeutics (NASDAQ:DNLI) Price Target to $23.00

Denali Therapeutics (NASDAQ:DNLI) had its target price trimmed by Wedbush from $25.00 to $23.00 in a research report report published on Friday, Marketbeat reports. The firm currently has an outperform rating on the stock.

Several other equities analysts have also commented on DNLI. Wall Street Zen lowered shares of Denali Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 25th. Wolfe Research initiated coverage on shares of Denali Therapeutics in a research report on Monday, February 23rd. They set a “peer perform” rating for the company. Leerink Partners lowered their price objective on shares of Denali Therapeutics from $40.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, April 22nd. Robert W. Baird increased their price objective on shares of Denali Therapeutics from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Tuesday, April 7th. Finally, BTIG Research increased their price objective on shares of Denali Therapeutics from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Denali Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.42.

Denali Therapeutics Price Performance

Shares of NASDAQ:DNLI opened at $19.62 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.28 and a current ratio of 9.28. The firm has a fifty day moving average price of $20.19 and a 200 day moving average price of $18.86. Denali Therapeutics has a fifty-two week low of $12.58 and a fifty-two week high of $23.77. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of -6.81 and a beta of 0.99.

Denali Therapeutics (NASDAQ:DNLI) last issued its earnings results on Thursday, May 7th. The company reported ($0.69) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.04. During the same quarter in the prior year, the business posted ($0.78) EPS. As a group, sell-side analysts expect that Denali Therapeutics will post -2.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Denali Therapeutics

Several institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Denali Therapeutics in the fourth quarter valued at $84,525,000. Holocene Advisors LP raised its stake in shares of Denali Therapeutics by 677.8% in the third quarter. Holocene Advisors LP now owns 3,135,712 shares of the company’s stock valued at $45,531,000 after acquiring an additional 2,732,540 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Denali Therapeutics by 77.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,835,803 shares of the company’s stock valued at $63,329,000 after acquiring an additional 1,672,098 shares during the period. Temasek Holdings Private Ltd raised its stake in shares of Denali Therapeutics by 30.9% in the fourth quarter. Temasek Holdings Private Ltd now owns 7,012,974 shares of the company’s stock valued at $115,784,000 after acquiring an additional 1,657,142 shares during the period. Finally, T. Rowe Price Investment Management Inc. raised its stake in shares of Denali Therapeutics by 28.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,254,132 shares of the company’s stock valued at $119,766,000 after acquiring an additional 1,615,565 shares during the period. Institutional investors own 92.92% of the company’s stock.

About Denali Therapeutics

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.