Denali Therapeutics Inc. (NASDAQ:DNLI) Receives $33.71 Average Target Price from Brokerages

Key Points

• Denali Therapeutics Inc. has received a consensus rating of "Buy" from seventeen research firms, with an average twelve-month target price of $33.71.
• The company's stock opened at $13.63 and has a market capitalization of $1.98 billion, with a fifty-two week high of $33.33 and a low of $10.57.
• CEO Ryan J. Watts sold 495,282 shares of the company, decreasing his position by 66.18% and raising concerns among investors regarding insider activity.

Denali Therapeutics Inc. (NASDAQ:DNLI - Get Free Report) has earned a consensus rating of "Buy" from the eighteen research firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $33.71.

A number of brokerages have recently commented on DNLI. Wedbush dropped their price target on Denali Therapeutics from $32.00 to $30.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. HC Wainwright decreased their price objective on Denali Therapeutics from $80.00 to $32.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. William Blair upgraded Denali Therapeutics to a "strong-buy" rating in a research note on Thursday, April 24th. Cantor Fitzgerald upgraded Denali Therapeutics from a "neutral" rating to an "overweight" rating in a research note on Thursday, April 10th. Finally, Robert W. Baird decreased their price objective on Denali Therapeutics from $30.00 to $29.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th.

Insiders Place Their Bets

In related news, CEO Ryan J. Watts sold 495,282 shares of the stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $15.00, for a total transaction of $7,429,230.00. Following the completion of the sale, the chief executive officer directly owned 253,071 shares in the company, valued at $3,796,065. This represents a 66.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 12.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Denali Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of DNLI. Raymond James Financial Inc. purchased a new stake in Denali Therapeutics in the 4th quarter worth approximately $533,000. Teacher Retirement System of Texas lifted its holdings in Denali Therapeutics by 18.6% in the 4th quarter. Teacher Retirement System of Texas now owns 38,178 shares of the company's stock worth $778,000 after buying an additional 5,987 shares during the period. American Century Companies Inc. lifted its holdings in Denali Therapeutics by 6.5% in the 4th quarter. American Century Companies Inc. now owns 480,529 shares of the company's stock worth $9,793,000 after buying an additional 29,155 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Denali Therapeutics in the 4th quarter worth approximately $532,000. Finally, Vanguard Group Inc. lifted its holdings in Denali Therapeutics by 7.6% in the 4th quarter. Vanguard Group Inc. now owns 12,021,230 shares of the company's stock worth $244,993,000 after buying an additional 843,996 shares during the period. Hedge funds and other institutional investors own 92.92% of the company's stock.

Denali Therapeutics Stock Down 0.1%

DNLI stock traded down $0.02 during midday trading on Tuesday, hitting $13.61. The company's stock had a trading volume of 1,558,014 shares, compared to its average volume of 1,331,889. The stock's 50-day moving average price is $14.21 and its 200 day moving average price is $16.04. Denali Therapeutics has a 1 year low of $10.57 and a 1 year high of $33.33. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of -5.10 and a beta of 1.33.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.07). During the same period last year, the firm earned ($0.68) earnings per share. As a group, equities analysts forecast that Denali Therapeutics will post -2.71 earnings per share for the current fiscal 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.