Jefferies Financial Group Forecasts Strong Price Appreciation for Denali Therapeutics (NASDAQ:DNLI) Stock

Denali Therapeutics (NASDAQ:DNLI) had its price objective hoisted by Jefferies Financial Group from $40.00 to $45.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price objective would indicate a potential upside of 66.36% from the company’s current price.

DNLI has been the topic of several other reports. Cantor Fitzgerald cut Denali Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, October 7th. HC Wainwright reiterated a “buy” rating and set a $90.00 price objective on shares of Denali Therapeutics in a research report on Wednesday, September 4th. Bank of America lifted their target price on shares of Denali Therapeutics from $25.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Wedbush cut their price target on shares of Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lowered their price objective on Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.90.

Denali Therapeutics Price Performance

Denali Therapeutics stock opened at $27.05 on Friday. The business has a 50 day moving average of $27.38 and a 200-day moving average of $23.11. The company has a market capitalization of $3.87 billion, a P/E ratio of -9.49 and a beta of 1.40. Denali Therapeutics has a 1 year low of $14.56 and a 1 year high of $32.13.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.59) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.09. The business had revenue of $1.00 million during the quarter, compared to analyst estimates of $10.00 million. The company’s revenue was down 99.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.30 earnings per share. Equities analysts anticipate that Denali Therapeutics will post -2.53 EPS for the current year.

Insider Activity

In related news, Director Steve E. Krognes sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $29.03, for a total transaction of $870,900.00. Following the transaction, the director now directly owns 29,096 shares of the company’s stock, valued at approximately $844,656.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Denali Therapeutics news, CEO Ryan J. Watts sold 40,000 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $27.69, for a total value of $1,107,600.00. Following the transaction, the chief executive officer now directly owns 235,807 shares of the company’s stock, valued at approximately $6,529,495.83. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steve E. Krognes sold 30,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $29.03, for a total transaction of $870,900.00. Following the completion of the transaction, the director now directly owns 29,096 shares in the company, valued at approximately $844,656.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 7.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Denali Therapeutics

Several institutional investors have recently bought and sold shares of the stock. EP Wealth Advisors LLC bought a new stake in shares of Denali Therapeutics in the 1st quarter worth $831,000. Edgestream Partners L.P. purchased a new position in shares of Denali Therapeutics in the 1st quarter worth approximately $2,301,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Denali Therapeutics in the first quarter valued at approximately $4,330,000. Swiss National Bank grew its holdings in shares of Denali Therapeutics by 0.7% in the first quarter. Swiss National Bank now owns 218,200 shares of the company’s stock valued at $4,477,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Bayesian Capital Management LP purchased a new stake in shares of Denali Therapeutics during the first quarter valued at approximately $447,000. Institutional investors own 92.92% of the company’s stock.

Denali Therapeutics Company Profile

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.