Denali Therapeutics (NASDAQ:DNLI) Price Target Raised to $38.00 at BTIG Research

Denali Therapeutics (NASDAQ:DNLI) had its target price boosted by analysts at BTIG Research from $36.00 to $38.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s price objective would indicate a potential upside of 69.11% from the stock’s current price.

A number of other brokerages have also recently commented on DNLI. Wolfe Research initiated coverage on shares of Denali Therapeutics in a research note on Monday, February 23rd. They set a “peer perform” rating for the company. Morgan Stanley restated an “overweight” rating and issued a $40.00 target price 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. UBS Group initiated coverage on shares of Denali Therapeutics in a report on Wednesday, January 7th. They set a “buy” rating for the company. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $40.00 target price on shares of Denali Therapeutics in a report on Monday, March 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Denali Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $33.70.

Denali Therapeutics Trading Up 7.2%

Shares of DNLI opened at $22.47 on Wednesday. The stock’s 50-day moving average price is $20.41 and its 200 day moving average price is $17.80. The company has a quick ratio of 9.16, a current ratio of 9.16 and a debt-to-equity ratio of 0.01. Denali Therapeutics has a 12-month low of $10.57 and a 12-month high of $23.77. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of -7.57 and a beta of 1.02.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.02. During the same period in the prior year, the firm earned ($0.67) EPS. As a group, research analysts predict that Denali Therapeutics will post -2.71 earnings per share for the current year.

Insider Buying and Selling at Denali Therapeutics

In other news, insider Alexander O. Schuth sold 17,218 shares of the business’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $16.50, for a total transaction of $284,097.00. Following the completion of the sale, the insider owned 282,828 shares in the company, valued at $4,666,662. The trade was a 5.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ryan J. Watts sold 35,198 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $16.50, for a total value of $580,767.00. Following the completion of the transaction, the chief executive officer owned 296,833 shares in the company, valued at approximately $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 currently owned by company insiders.

Institutional Trading of Denali Therapeutics

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Denali Therapeutics by 8.9% during the 4th quarter. Vanguard Group Inc. now owns 13,057,890 shares of the company’s stock valued at $215,586,000 after acquiring an additional 1,064,972 shares during the last quarter. Baillie Gifford & Co. grew its stake in shares of Denali Therapeutics by 6.2% during the fourth quarter. Baillie Gifford & Co. now owns 12,310,889 shares of the company’s stock worth $203,253,000 after purchasing an additional 719,304 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in shares of Denali Therapeutics by 28.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,254,132 shares of the company’s stock worth $119,766,000 after purchasing an additional 1,615,565 shares during the period. Temasek Holdings Private Ltd increased its holdings in 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 purchasing an additional 1,657,142 shares during the last quarter. Finally, State Street Corp increased its holdings in Denali Therapeutics by 14.6% in the fourth quarter. State Street Corp now owns 6,263,371 shares of the company’s stock valued at $103,408,000 after purchasing an additional 799,110 shares during the last quarter. Institutional investors and hedge funds own 92.92% of the company’s stock.

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.