Denali Therapeutics Inc. (NASDAQ:DNLI) Receives $32.27 Consensus PT from Brokerages

Denali Therapeutics Inc. (NASDAQ:DNLI) has been assigned an average recommendation of “Buy” from the fourteen brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eleven have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $32.2727.

A number of brokerages have commented on DNLI. BTIG Research reiterated a “buy” rating and set a $32.00 price target on shares of Denali Therapeutics in a research report on Friday, February 6th. Stifel Nicolaus set a $37.00 target price on shares of Denali Therapeutics in a report on Monday, November 17th. Morgan Stanley reissued an “overweight” rating and issued a $40.00 price target on shares of Denali Therapeutics in a research note on Thursday, January 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Denali Therapeutics in a research note on Wednesday, January 21st. Finally, JPMorgan Chase & Co. lifted their price objective on Denali Therapeutics from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th.

Insider Buying and Selling

In other Denali Therapeutics news, insider Alexander O. Schuth sold 17,218 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $16.50, for a total value of $284,097.00. Following the completion of the sale, the insider owned 282,828 shares in the company, valued at approximately $4,666,662. The trade was a 5.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan J. Watts sold 35,198 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $16.50, for a total transaction of $580,767.00. Following the completion of the transaction, the chief executive officer owned 296,833 shares in the company, valued at $4,897,744.50. This represents a 10.60% decrease in their position. The disclosure for this sale is available in the SEC filing. 12.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Denali Therapeutics

A number of hedge funds have recently modified their holdings of DNLI. Vanguard Group Inc. boosted its holdings in shares of Denali Therapeutics by 8.9% during the fourth quarter. Vanguard Group Inc. now owns 13,057,890 shares of the company’s stock worth $215,586,000 after purchasing an additional 1,064,972 shares during the period. Baillie Gifford & Co. raised its position in Denali Therapeutics by 6.2% during 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 last quarter. State Street Corp lifted its holdings in Denali Therapeutics by 14.6% in the 4th quarter. State Street Corp now owns 6,263,371 shares of the company’s stock worth $103,408,000 after buying an additional 799,110 shares during the period. Norges Bank bought a new stake in shares of Denali Therapeutics in the 4th quarter worth approximately $84,525,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of Denali Therapeutics by 77.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,835,803 shares of the company’s stock valued at $63,329,000 after buying an additional 1,672,098 shares during the period. Hedge funds and other institutional investors own 92.92% of the company’s stock.

Denali Therapeutics Trading Down 2.1%

Shares of DNLI stock opened at $18.77 on Friday. The business has a 50-day moving average price of $18.52 and a two-hundred day moving average price of $16.70. Denali Therapeutics has a 12-month low of $10.57 and a 12-month high of $23.77. The company has a quick ratio of 9.79, a current ratio of 9.79 and a debt-to-equity ratio of 0.01. The firm has a market cap of $2.75 billion, a P/E ratio of -6.45 and a beta of 1.02.

Denali Therapeutics Company Profile

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.