Denali Therapeutics (NASDAQ:DNLI) Earns "Buy" Rating from BTIG Research

Key Points

• BTIG Research reaffirmed a Buy rating on Denali Therapeutics and kept its $39 price target, implying nearly 99% upside from the stock’s current level.
• Analyst sentiment is generally positive: Denali has a Moderate Buy consensus rating, with 13 Buy ratings, one Strong Buy, one Hold, and one Sell.
• The company recently beat quarterly EPS estimates, reporting ($0.69) per share versus expectations for ($0.73), as it advances its clinical-stage programs in neurodegenerative diseases.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at BTIG Research in a report issued on Monday,Benzinga reports. They currently have a $39.00 price objective on the stock. BTIG Research's price target would indicate a potential upside of 98.78% from the stock's current price.

A number of other analysts have also issued reports on the stock. Wolfe Research initiated coverage on shares of Denali Therapeutics in a research report on Monday, February 23rd. They issued a "peer perform" rating for the company. Stifel Nicolaus increased their price target on shares of Denali Therapeutics from $34.00 to $41.00 and gave the stock a "buy" rating in a research report on Thursday, March 26th. Robert W. Baird increased their price target on shares of Denali Therapeutics from $32.00 to $34.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 7th. Morgan Stanley increased their price target on shares of Denali Therapeutics from $40.00 to $42.00 and gave the stock an "overweight" rating in a research report on Thursday, March 26th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Denali Therapeutics in a research report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $34.50.

Denali Therapeutics Stock Performance

Shares of DNLI opened at $19.62 on Monday. The company has a 50-day moving average of $20.19 and a two-hundred day moving average of $18.86. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.28 and a quick ratio of 9.28. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of -6.81 and a beta of 0.99. Denali Therapeutics has a one year low of $12.58 and a one year high of $23.77.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.69) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.73) by $0.04. During the same quarter in the previous year, the business earned ($0.78) earnings per share. On average, equities research analysts expect that Denali Therapeutics will post -2.86 earnings per share for the current year.

Hedge Funds Weigh In On Denali Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Wyoming grew its holdings in Denali Therapeutics by 24.7% during the fourth quarter. State of Wyoming now owns 2,686 shares of the company's stock valued at $44,000 after purchasing an additional 532 shares during the last quarter. Intrust Bank NA grew its holdings in Denali Therapeutics by 5.6% during the fourth quarter. Intrust Bank NA now owns 11,164 shares of the company's stock valued at $184,000 after purchasing an additional 589 shares during the last quarter. ADAR1 Capital Management LLC grew its holdings in Denali Therapeutics by 1.2% during the fourth quarter. ADAR1 Capital Management LLC now owns 52,116 shares of the company's stock valued at $860,000 after purchasing an additional 600 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Denali Therapeutics by 8.7% during the first quarter. PNC Financial Services Group Inc. now owns 9,220 shares of the company's stock valued at $177,000 after purchasing an additional 739 shares during the last quarter. Finally, Pier 88 Investment Partners LLC grew its holdings in Denali Therapeutics by 1.1% during the fourth quarter. Pier 88 Investment Partners LLC now owns 68,200 shares of the company's stock valued at $1,126,000 after purchasing an additional 760 shares during the last quarter. Institutional investors and hedge funds own 92.92% of the company's stock.

Denali Therapeutics Company Profile

Denali Therapeutics is a clinical‐stage biopharmaceutical company focused on developing therapies for neurodegenerative diseases. The company's research leverages a proprietary Blood–Brain Barrier Transport Vehicle (TV) platform designed to enable large molecules, including antibodies and enzymes, to penetrate the central nervous system. Denali's approach includes small molecules, monoclonal antibodies and gene therapy candidates aimed at key drivers of disorders such as Alzheimer's disease, Parkinson's disease, amyotrophic lateral sclerosis (ALS) and frontotemporal dementia.

Among Denali's lead programs is an orally delivered leucine‐rich repeat kinase 2 (LRRK2) inhibitor for Parkinson's disease, and an anti‐TREM2 antibody designed to modulate microglial activity in Alzheimer's patients.

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