Denali Therapeutics (NASDAQ:DNLI) Stock Keeps "Buy" Rating at BTIG Research

Key Points

• BTIG Research reaffirmed its Buy rating on Denali Therapeutics and set a $39 price target, implying roughly 100.5% upside from the previous close.
• Analyst sentiment is broadly positive: 13 analysts rate the stock Buy, two Hold, and one Sell; the consensus is Moderate Buy with an average target of $35.85.
• Denali reported quarterly EPS of $0.37, beating analysts’ expectation of a $0.27 loss, while revenue of $17.78 million exceeded the $12.67 million forecast.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at BTIG Research in a research note issued on Wednesday, Benzinga reports. They presently have a $39.00 target price on the stock. BTIG Research's target price would indicate a potential upside of 100.51% from the stock's previous close.

Other analysts also recently issued reports about the company. UBS Group raised their target price on Denali Therapeutics from $25.00 to $34.00 and gave the company a "buy" rating in a research note on Friday, August 7th. B. Riley Financial boosted their price target on Denali Therapeutics from $30.00 to $35.00 and gave the stock a "buy" rating in a research note on Tuesday, August 25th. Deutsche Bank Aktiengesellschaft increased their price target on Denali Therapeutics from $31.00 to $35.00 and gave the company a "buy" rating in a report on Thursday, July 16th. Robert W. Baird set a $34.00 price objective on Denali Therapeutics in a research note on Friday, August 7th. Finally, Wedbush restated an "outperform" rating and set a $26.00 price objective on shares of Denali Therapeutics in a research note on Monday, July 13th. Thirteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Denali Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $35.85.

Denali Therapeutics Price Performance

DNLI opened at $19.45 on Wednesday. The company has a fifty day simple moving average of $20.42 and a 200 day simple moving average of $21.24. Denali Therapeutics has a twelve month low of $13.75 and a twelve month high of $27.30. The company has a quick ratio of 8.32, a current ratio of 8.37 and a debt-to-equity ratio of 0.01.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.64. The firm had revenue of $17.78 million for the quarter, compared to analysts' expectations of $12.67 million. During the same period last year, the firm earned ($0.74) EPS. As a group, sell-side analysts expect that Denali Therapeutics will post -2.70 EPS for the current year.

Insiders Place Their Bets

In other news, insider Alexander O. Schuth sold 2,857 shares of the company's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $25.07, for a total value of $71,624.99. Following the sale, the insider owned 281,763 shares in the company, valued at approximately $7,063,798.41. This represents a 1.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 9.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Denali Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of DNLI. BlackRock Inc. acquired a new position in shares of Denali Therapeutics in the 2nd quarter valued at about $360,759,000. Dimensional Fund Advisors LP grew its position in shares of Denali Therapeutics by 13.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,692,175 shares of the company's stock valued at $51,687,000 after buying an additional 317,872 shares during the last quarter. ADAR1 Capital Management LLC raised its stake in Denali Therapeutics by 3,490.9% during the first quarter. ADAR1 Capital Management LLC now owns 1,871,455 shares of the company's stock worth $35,932,000 after acquiring an additional 1,819,339 shares during the period. Bank of America Corp DE acquired a new stake in Denali Therapeutics during the second quarter worth about $31,660,000. Finally, Defilade Capital Management L.P. lifted its holdings in Denali Therapeutics by 107.1% in the first quarter. Defilade Capital Management L.P. now owns 1,359,969 shares of the company's stock worth $26,111,000 after acquiring an additional 703,256 shares during the last quarter. 92.92% of the stock is owned by institutional investors.

About Denali Therapeutics

Denali Therapeutics Inc is a biopharmaceutical company focused on discovering and developing therapies for patients with neurodegenerative diseases. The company's research programs target conditions including Parkinson's disease, Alzheimer's disease, amyotrophic lateral sclerosis, and lysosomal storage disorders.

Denali uses its blood-brain barrier transport technology, known as the Transport Vehicle platform, to design medicines intended to deliver therapeutic proteins and other biologic treatments into the central nervous system.

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