Analysts Set Denali Therapeutics Inc. (NASDAQ:DNLI) Target Price at $33.50

Key Points

• Denali Therapeutics Inc. has received an average recommendation of "Buy" from analysts, with one hold rating, 13 buy ratings, and three strong buy ratings, reflecting positive sentiment among financial experts.
• The current average price target for Denali's stock is $33.50, indicating potential growth according to analysts.
• The company reported a quarterly EPS of ( $0.72), slightly beating the consensus estimate, and forecasts a negative EPS of (−2.71) for the current fiscal year.

Denali Therapeutics Inc. (NASDAQ:DNLI - Get Free Report) has earned an average recommendation of "Buy" from the seventeen ratings firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $33.50.

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

Insider Activity

In other news, CEO Ryan J. Watts sold 495,282 shares of Denali Therapeutics stock in a transaction on 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 transaction, the chief executive officer directly owned 253,071 shares in the company, valued at approximately $3,796,065. This trade represents a 66.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Alexander O. Schuth sold 2,937 shares of Denali Therapeutics stock in a transaction on 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 transaction, the insider owned 242,346 shares in the company, valued at $3,291,058.68. This represents a 1.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 501,962 shares of company stock worth $7,520,799. 12.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Denali Therapeutics by 88.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,766,916 shares of the company's stock valued at $91,996,000 after acquiring an additional 3,184,042 shares during the period. SCS Capital Management LLC purchased a new position in Denali Therapeutics during the 1st quarter worth $2,692,000. SG Americas Securities LLC grew its stake in Denali Therapeutics by 339.6% during the 1st quarter. SG Americas Securities LLC now owns 48,365 shares of the company's stock worth $658,000 after buying an additional 37,362 shares during the last quarter. Trexquant Investment LP grew its stake in Denali Therapeutics by 86.7% during the 1st quarter. Trexquant Investment LP now owns 113,224 shares of the company's stock worth $1,539,000 after buying an additional 52,568 shares during the last quarter. Finally, Millennium Management LLC grew its stake in Denali Therapeutics by 269.4% during the 1st quarter. Millennium Management LLC now owns 1,493,068 shares of the company's stock worth $20,298,000 after buying an additional 1,088,844 shares during the last quarter. 92.92% of the stock is currently owned by hedge funds and other institutional investors.

Denali Therapeutics Trading Down 3.3%

Shares of NASDAQ:DNLI traded down $0.43 during trading on Wednesday, hitting $12.75. The company had a trading volume of 4,847,705 shares, compared to its average volume of 2,084,645. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of -4.55 and a beta of 1.23. Denali Therapeutics has a one year low of $10.57 and a one year high of $33.33. The company has a fifty day simple moving average of $14.43 and a two-hundred day simple moving average of $14.31. The company has a debt-to-equity ratio of 0.01, a current ratio of 10.27 and a quick ratio of 10.27.

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