Denali Therapeutics (NASDAQ:DNLI) Releases Earnings Results

Denali Therapeutics (NASDAQ:DNLI) issued its earnings results on Tuesday. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.69, FiscalAI reports. The company had revenue of $17.78 million during the quarter, compared to analysts’ expectations of $12.22 million.

Denali Therapeutics Stock Up 3.1%

DNLI traded up $0.59 on Tuesday, reaching $19.45. The company’s stock had a trading volume of 2,416,437 shares, compared to its average volume of 1,716,696. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of -6.85 and a beta of 1.02. Denali Therapeutics has a 1 year low of $13.75 and a 1 year high of $27.30. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.37 and a quick ratio of 8.32. The business’s 50 day moving average is $20.52 and its 200 day moving average is $21.24.

Insiders Place Their Bets

In other Denali Therapeutics news, insider Alexander O. Schuth sold 2,768 shares of Denali Therapeutics stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $23.44, for a total transaction of $64,881.92. Following the sale, the insider directly owned 278,995 shares in the company, valued at $6,539,642.80. The trade was a 0.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently commented on DNLI. UBS Group raised their target price on Denali Therapeutics from $25.00 to $34.00 and gave the company a “buy” rating in a report on Friday, August 7th. B. Riley Financial upped their price target on Denali Therapeutics from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, August 25th. Morgan Stanley increased their price objective on shares of Denali Therapeutics from $35.00 to $36.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Robert W. Baird set a $34.00 price objective on shares of Denali Therapeutics in a research report on Friday, August 7th. Finally, Wall Street Zen upgraded shares of Denali Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, October 24th. Thirteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Denali Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $35.85.

About Denali Therapeutics

Denali Therapeutics Inc is a biopharmaceutical company focused on discovering and developing therapies for patients with neurodegenerative diseases. The company’s research programs target conditions including Parkinson’s disease, Alzheimer’s disease, amyotrophic lateral sclerosis, and lysosomal storage disorders.

Denali uses its blood-brain barrier transport technology, known as the Transport Vehicle platform, to design medicines intended to deliver therapeutic proteins and other biologic treatments into the central nervous system.