Denali Therapeutics Inc. (NASDAQ:DNLI) Given Consensus Recommendation of "Buy" by Brokerages

Key Points

• Denali Therapeutics Inc. has received a consensus recommendation of "Buy" from seventeen analysts, with an average twelve-month price target of $33.62.
• Insider trading activity has seen significant sales, with insiders selling a total of 501,962 shares valued at approximately $7.5 million over the last 90 days.
• The company reported an EPS of ($0.72) for the last quarter, beating the consensus estimate of ($0.74), while analysts anticipate posting -2.71 EPS for the current year.

Denali Therapeutics Inc. (NASDAQ:DNLI - Get Free Report) has received a consensus rating of "Buy" from the seventeen research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $33.6154.

Several equities analysts recently issued reports on the company. Morgan Stanley cut their target price on Denali Therapeutics from $33.00 to $30.00 and set an "overweight" rating on the stock in a research report on Monday, August 18th. TD Cowen raised Denali Therapeutics to a "strong-buy" rating in a report on Monday, July 28th. HC Wainwright reduced their price objective on Denali Therapeutics from $80.00 to $32.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Robert W. Baird decreased their target price on Denali Therapeutics from $30.00 to $29.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Finally, Bank of America cut their price target on shares of Denali Therapeutics from $28.00 to $27.00 and set a "buy" rating on the stock in a report on Monday, May 19th.

Denali Therapeutics Price Performance

Shares of Denali Therapeutics stock traded up $0.08 during midday trading on Friday, hitting $15.57. The company had a trading volume of 1,386,024 shares, compared to its average volume of 1,818,628. The company has a fifty day simple moving average of $14.32 and a 200 day simple moving average of $14.93. The company has a debt-to-equity ratio of 0.01, a quick ratio of 10.27 and a current ratio of 10.27. Denali Therapeutics has a 12-month low of $10.57 and a 12-month high of $33.33.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.74) by $0.02. During the same quarter last year, the business posted ($0.59) EPS. As a group, analysts predict that Denali Therapeutics will post -2.71 earnings per share for the current fiscal year.

Insider Transactions at Denali Therapeutics

In related news, insider Carole Ho sold 2,937 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $13.58, for a total transaction of $39,884.46. Following the completion of the transaction, the insider owned 217,391 shares of the company's stock, valued at $2,952,169.78. This trade represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 value of $7,429,230.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 501,962 shares of company stock worth $7,520,799 over the last 90 days. 12.50% of the stock is currently owned by company insiders.

Institutional Trading of Denali Therapeutics

A number of hedge funds have recently added to or reduced their stakes in DNLI. Headlands Technologies LLC purchased a new position in Denali Therapeutics in the second quarter valued at $26,000. Caitong International Asset Management Co. Ltd increased its position in shares of Denali Therapeutics by 277.0% in the first quarter. Caitong International Asset Management Co. Ltd now owns 2,111 shares of the company's stock valued at $29,000 after buying an additional 1,551 shares in the last quarter. State of Wyoming acquired a new position in shares of Denali Therapeutics during the 2nd quarter worth approximately $29,000. Sterling Capital Management LLC lifted its position in shares of Denali Therapeutics by 589.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,773 shares of the company's stock valued at $36,000 after buying an additional 1,516 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Denali Therapeutics in the 1st quarter valued at $41,000. 92.92% of the stock is owned by hedge funds and other institutional investors.

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.