Denali Therapeutics (NASDAQ:DNLI) Reaches New 1-Year High – Still a Buy?

Denali Therapeutics Inc. (NASDAQ:DNLI) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $27.08 and last traded at $27.1010, with a volume of 114174 shares traded. The stock had previously closed at $26.69.

Wall Street Analyst Weigh In

DNLI has been the subject of several research reports. UBS Group restated a “buy” rating on shares of Denali Therapeutics in a research report on Tuesday, June 16th. Wall Street Zen raised shares of Denali Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Morgan Stanley lowered their price target on shares of Denali Therapeutics from $40.00 to $35.00 and set an “overweight” rating for the company in a report on Friday, May 22nd. The Goldman Sachs Group boosted their price objective on shares of Denali Therapeutics from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, March 26th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Denali Therapeutics in a report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.25.

Denali Therapeutics Price Performance

The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $4.08 billion, a P/E ratio of -8.92 and a beta of 0.96. The company has a fifty day simple moving average of $21.79 and a two-hundred day simple moving average of $20.36.

Denali Therapeutics (NASDAQ:DNLI) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.69) EPS for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.04. During the same period in the prior year, the firm posted ($0.78) EPS. Sell-side analysts expect that Denali Therapeutics Inc. will post -2.77 EPS for the current fiscal year.

Institutional Trading of Denali Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Foresite Capital Management VI LLC bought a new stake in shares of Denali Therapeutics during the third quarter worth approximately $14,520,000. Capricorn Fund Managers Ltd acquired a new stake in Denali Therapeutics during the 4th quarter worth approximately $1,027,000. Holocene Advisors LP lifted its holdings in Denali Therapeutics by 677.8% during the 3rd quarter. Holocene Advisors LP now owns 3,135,712 shares of the company’s stock worth $45,531,000 after purchasing an additional 2,732,540 shares during the last quarter. Baillie Gifford & Co. boosted its stake in Denali Therapeutics by 6.2% in the 4th quarter. Baillie Gifford & Co. now owns 12,310,889 shares of the company’s stock valued at $203,253,000 after purchasing an additional 719,304 shares during the period. Finally, Boxer Capital Management LLC acquired a new position in Denali Therapeutics in the 3rd quarter valued at $3,630,000. 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.