Wall Street Zen Upgrades Denali Therapeutics (NASDAQ:DNLI) to Hold

Key Points

• Wall Street Zen upgraded Denali Therapeutics to “Hold” from “Sell.” Overall analyst sentiment remains a “Moderate Buy,” with 13 Buy, two Hold, and one Sell rating and an average price target of $35.85.
• Denali shares opened at $18.41, below their 50-day and 200-day moving averages, while trading between a 52-week range of $13.75 to $27.30. The company’s latest quarterly loss of $0.68 per share missed estimates, despite revenue exceeding expectations.
• Institutional investors own 92.92% of Denali’s stock, with BlackRock, Bank of America, and Bank of New York Mellon among firms recently establishing positions. An insider also sold 2,768 shares under a pre-arranged trading plan.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other equities research analysts also recently issued reports on DNLI. Deutsche Bank Aktiengesellschaft raised 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. 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 report on Tuesday, August 25th. Wedbush restated an "outperform" rating and issued a $26.00 target price on shares of Denali Therapeutics in a research report on Monday, July 13th. UBS Group boosted their price target on Denali Therapeutics from $25.00 to $34.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Denali Therapeutics in a research report on Thursday, October 15th. Thirteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $35.85.

Denali Therapeutics Price Performance

Shares of NASDAQ DNLI opened at $18.41 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.37 and a quick ratio of 8.32. The business has a 50-day moving average of $21.16 and a 200-day moving average of $21.72. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of -6.48 and a beta of 1.02. Denali Therapeutics has a fifty-two week low of $13.75 and a fifty-two week high of $27.30.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.17). The business had revenue of $3.60 million during the quarter, compared to analysts' expectations of $2.15 million. During the same quarter last year, the business earned ($0.72) earnings per share. As a group, sell-side analysts predict that Denali Therapeutics will post -2.70 earnings per share for the current fiscal year.

Insider Transactions at Denali Therapeutics

In other Denali Therapeutics news, insider Alexander O. Schuth sold 2,768 shares of the business's stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $23.44, for a total transaction of $64,881.92. Following the completion of the sale, the insider owned 278,995 shares in the company, valued at approximately $6,539,642.80. The trade was a 0.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 9.70% of the company's stock.

Institutional Trading of Denali Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of Denali Therapeutics in the second quarter valued at about $360,759,000. ADAR1 Capital Management LLC lifted its position in shares of 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 in the last quarter. Bank of America Corp DE purchased a new position in Denali Therapeutics during the 2nd quarter valued at about $31,660,000. Pictet Asset Management Holding SA grew its stake in Denali Therapeutics by 92.5% during the first quarter. Pictet Asset Management Holding SA now owns 2,558,865 shares of the company's stock valued at $48,439,000 after acquiring an additional 1,229,757 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Denali Therapeutics during the 2nd quarter valued at $20,583,000. 92.92% of the stock is owned by institutional investors.

Denali Therapeutics Company Profile

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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