Denali Therapeutics (NASDAQ:DNLI) Price Target Lowered to $30.00 at Morgan Stanley

Key Points

• Morgan Stanley has lowered its price target for Denali Therapeutics from $33.00 to $30.00 while maintaining an "overweight" rating, indicating potential upside from the current price.
• The stock recently traded up 2.6%, closing at $15.09, with a market cap of $2.21 billion and a consensus rating of "Buy" with an average target price of $33.62.
• Insider trading saw significant activity, with CEO Ryan J. Watts selling 495,282 shares, representing a 66.18% decrease in his ownership stake.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) had its price objective lowered by research analysts at Morgan Stanley from $33.00 to $30.00 in a report released on Monday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Morgan Stanley's price target indicates a potential upside of 98.87% from the company's previous close.

Other research analysts have also recently issued research reports about the stock. TD Cowen upgraded shares of Denali Therapeutics to a "strong-buy" rating in a report on Monday, July 28th. HC Wainwright reduced their price target on shares of Denali Therapeutics from $80.00 to $32.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. William Blair upgraded shares of Denali Therapeutics to a "strong-buy" rating in a research report on Thursday, April 24th. Robert W. Baird reduced their price target on shares of Denali Therapeutics from $30.00 to $29.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. Finally, Wedbush reduced their price target on shares of Denali Therapeutics from $32.00 to $30.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $33.62.

Denali Therapeutics Trading Up 2.6%

Shares of Denali Therapeutics stock traded up $0.39 on Monday, reaching $15.09. The company had a trading volume of 39,085 shares, compared to its average volume of 1,405,073. The firm's 50 day moving average price is $14.30 and its two-hundred day moving average price is $15.25. The firm has a market cap of $2.21 billion, a PE ratio of -5.39 and a beta of 1.36. Denali Therapeutics has a 52-week low of $10.57 and a 52-week high of $33.33. 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 (NASDAQ:DNLI - Get Free Report) last announced its earnings results on Monday, August 11th. The company reported ($0.72) earnings per share for the quarter, topping the consensus estimate of ($0.74) by $0.02. During the same quarter in the previous year, the company earned ($0.59) EPS. Sell-side analysts predict that Denali Therapeutics will post -2.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Denali Therapeutics

In other Denali Therapeutics news, insider Carole Ho sold 2,937 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $13.58, for a total transaction of $39,884.46. Following the transaction, the insider directly owned 217,391 shares in the company, valued at approximately $2,952,169.78. This represents a 1.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ryan J. Watts sold 495,282 shares of the company's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $15.00, for a total transaction of $7,429,230.00. Following the transaction, the chief executive officer owned 253,071 shares in the company, valued at approximately $3,796,065. The trade was a 66.18% 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. Company insiders own 12.50% of the company's stock.

Institutional Trading of Denali Therapeutics

Hedge funds have recently modified their holdings of the company. Norges Bank bought a new stake in Denali Therapeutics during the second quarter worth about $55,224,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Denali Therapeutics by 88.9% in the first 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 in the last quarter. Wellington Management Group LLP grew its stake in shares of Denali Therapeutics by 15.9% in the first quarter. Wellington Management Group LLP now owns 11,409,598 shares of the company's stock valued at $155,113,000 after acquiring an additional 1,561,647 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Denali Therapeutics by 42.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,367,234 shares of the company's stock valued at $59,373,000 after acquiring an additional 1,308,619 shares in the last quarter. Finally, Millennium Management LLC grew its stake in Denali Therapeutics by 269.4% during the first 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 in the last quarter. 92.92% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.