Brokerages Set Denali Therapeutics Inc. (NASDAQ:DNLI) Price Target at $37.20

Denali Therapeutics Inc. (NASDAQ:DNLI) has been assigned a consensus rating of “Moderate Buy” from the eighteen analysts that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $37.20.

A number of equities analysts have commented on DNLI shares. Stifel Nicolaus raised Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a report on Monday, December 16th. William Blair reissued an “outperform” rating on shares of Denali Therapeutics in a research note on Friday, February 28th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Denali Therapeutics in a research note on Tuesday, February 11th. They set a “buy” rating and a $31.00 target price on the stock. Morgan Stanley began coverage on shares of Denali Therapeutics in a research report on Friday, March 7th. They issued an “overweight” rating and a $33.00 target price for the company. Finally, JPMorgan Chase & Co. lowered their price target on shares of Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th.

Insider Transactions at Denali Therapeutics

In other Denali Therapeutics news, Director Vicki L. Sato sold 3,080 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $20.91, for a total value of $64,402.80. Following the transaction, the director now owns 107,976 shares of the company’s stock, valued at $2,257,778.16. This represents a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Carole Ho sold 12,255 shares of Denali Therapeutics stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $20.22, for a total transaction of $247,796.10. Following the sale, the insider now owns 178,580 shares of the company’s stock, valued at approximately $3,610,887.60. This represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,940 shares of company stock worth $973,442 in the last 90 days. Insiders own 7.90% of the company’s stock.

Hedge Funds Weigh In On Denali Therapeutics

Large investors have recently made changes to their positions in the stock. Victory Capital Management Inc. increased its holdings in Denali Therapeutics by 163.7% in the 3rd quarter. Victory Capital Management Inc. now owns 39,900 shares of the company’s stock valued at $1,162,000 after purchasing an additional 24,767 shares during the last quarter. FMR LLC boosted its position in shares of Denali Therapeutics by 3,234.3% during the third quarter. FMR LLC now owns 7,831,378 shares of the company’s stock worth $228,128,000 after buying an additional 7,596,508 shares during the period. Algert Global LLC grew its stake in shares of Denali Therapeutics by 82.4% in the third quarter. Algert Global LLC now owns 48,630 shares of the company’s stock valued at $1,417,000 after buying an additional 21,975 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Denali Therapeutics in the 4th quarter valued at $514,000. Finally, JPMorgan Chase & Co. lifted its stake in Denali Therapeutics by 6.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 235,386 shares of the company’s stock worth $6,857,000 after acquiring an additional 14,324 shares in the last quarter. 92.92% of the stock is currently owned by institutional investors and hedge funds.

Denali Therapeutics Stock Performance

NASDAQ:DNLI opened at $14.78 on Wednesday. The stock has a market capitalization of $2.15 billion, a PE ratio of -5.36 and a beta of 1.46. Denali Therapeutics has a fifty-two week low of $13.67 and a fifty-two week high of $33.33. The company has a fifty day moving average of $19.05 and a two-hundred day moving average of $23.21.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.67) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.08. Research analysts forecast that Denali Therapeutics will post -2.71 earnings per share for the current year.

About Denali Therapeutics

Denali Therapeutics Inc, a biopharmaceutical company, develops a portfolio of product candidates engineered to cross the blood-brain barrier for neurodegenerative diseases and lysosomal storage diseases in the United States. The company’s transport vehicle (TV)-enabled programs include DNL310 ETV, an IDS enzyme replacement therapy program for MPS II; TAK-594/DNL593 which is in Phase 1/II for frontotemporal dementia-granulin; DNL126 program for MPS IIIA; and DNL622 for MPS I, as well as other preclinical programs that target amyloid beta and HER2.