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 research firms, with an average twelve-month price target of $33.50.
• Insider trading activity included two insiders selling 2,937 shares each, indicating a 1.20% and 1.33% decrease in their respective holdings.
• Hedge funds and institutional investors own 92.92% of Denali Therapeutics' stock, highlighting significant institutional interest in the company.

Denali Therapeutics Inc. (NASDAQ:DNLI - Get Free Report) has earned a consensus recommendation of "Buy" from the seventeen research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $33.50.

DNLI has been the subject of a number of research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Denali Therapeutics in a research note on Wednesday. Morgan Stanley dropped their target price on Denali Therapeutics from $33.00 to $30.00 and set an "overweight" rating for the company in a report on Monday, August 18th. TD Cowen raised Denali Therapeutics to a "strong-buy" rating in a research report on Monday, July 28th. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Denali Therapeutics in a research report on Monday, September 8th.

Insider Buying and Selling at Denali Therapeutics

In other Denali Therapeutics news, insider Alexander O. Schuth sold 2,937 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $13.58, for a total value of $39,884.46. Following the transaction, the insider owned 242,346 shares of the company's stock, valued at $3,291,058.68. This represents a 1.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Carole Ho sold 2,937 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $13.58, for a total value of $39,884.46. Following the completion of the sale, the insider owned 217,391 shares of the company's stock, valued at approximately $2,952,169.78. This trade represents a 1.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,680 shares of company stock worth $91,569 in the last ninety days. 12.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Denali Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in DNLI. Marex Group plc purchased a new position in Denali Therapeutics during the second quarter worth approximately $3,665,000. State of Wyoming purchased a new stake in Denali Therapeutics in the second quarter valued at $29,000. Hudson Bay Capital Management LP raised its position in Denali Therapeutics by 16.0% in the second quarter. Hudson Bay Capital Management LP now owns 290,000 shares of the company's stock valued at $4,057,000 after purchasing an additional 40,000 shares during the period. Caxton Associates LLP acquired a new stake in shares of Denali Therapeutics in the second quarter valued at $199,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Denali Therapeutics in the second quarter valued at $26,000. Hedge funds and other institutional investors own 92.92% of the company's stock.

Denali Therapeutics Stock Performance

NASDAQ DNLI opened at $15.37 on Friday. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of -5.49 and a beta of 1.30. The company has a quick ratio of 10.27, a current ratio of 10.27 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $14.60 and a 200-day moving average price of $14.25. Denali Therapeutics has a twelve month low of $10.57 and a twelve month high of $33.33.

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

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