Denali Therapeutics (NASDAQ:DNLI) Reaches New 1-Year High - Still a Buy?

Key Points

• Denali Therapeutics hit a new 52-week high, trading as high as $27.08 before closing around $27.10, up about 0.4% on the day.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of $34.25, though opinions are mixed with one sell rating and two hold ratings.
• The company reported a smaller-than-expected quarterly loss, posting EPS of -$0.69 versus estimates of -$0.73, while analysts still expect a full-year loss of -$2.77 per share.

Denali Therapeutics Inc. (NASDAQ:DNLI - Get Free Report) hit a new 52-week high on Thursday . The company traded as high as $27.08 and last traded at $27.1010, with a volume of 114174 shares trading hands. The stock had previously closed at $26.69.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Robert W. Baird upped their target price on Denali Therapeutics from $32.00 to $34.00 and gave the company an "outperform" rating in a research report on Tuesday, April 7th. Weiss Ratings reissued a "sell (d-)" rating on shares of Denali Therapeutics in a research report on Monday, April 20th. HC Wainwright lifted their price target on shares of Denali Therapeutics from $32.00 to $42.00 and gave the stock a "buy" rating in a research note on Thursday, March 26th. Stifel Nicolaus set a $41.00 price target on shares of Denali Therapeutics in a report on Monday, June 22nd. Finally, Sanford C. Bernstein reiterated a "hold" rating on shares of Denali Therapeutics in a research note on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $34.25.

Denali Therapeutics Trading Up 0.4%

The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.28 and a current ratio of 9.28. The business has a fifty day simple moving average of $21.51 and a 200 day simple moving average of $20.25. The company has a market cap of $4.25 billion, a P/E ratio of -9.32 and a beta of 0.96.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.69) earnings per share for the quarter, beating analysts' consensus estimates of ($0.73) by $0.04. During the same period in the prior year, the company earned ($0.78) earnings per share. Analysts anticipate that Denali Therapeutics Inc. will post -2.77 earnings per share for the current fiscal year.

Institutional Trading of Denali Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. State of Wyoming boosted its holdings in shares of Denali Therapeutics by 24.7% in the 4th quarter. State of Wyoming now owns 2,686 shares of the company's stock valued at $44,000 after buying an additional 532 shares during the period. Intrust Bank NA raised its stake in Denali Therapeutics by 5.6% during the fourth quarter. Intrust Bank NA now owns 11,164 shares of the company's stock worth $184,000 after acquiring an additional 589 shares during the period. ADAR1 Capital Management LLC lifted its holdings in Denali Therapeutics by 1.2% in the fourth quarter. ADAR1 Capital Management LLC now owns 52,116 shares of the company's stock worth $860,000 after acquiring an additional 600 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Denali Therapeutics by 8.7% in the first quarter. PNC Financial Services Group Inc. now owns 9,220 shares of the company's stock valued at $177,000 after acquiring an additional 739 shares during the period. Finally, Pier 88 Investment Partners LLC grew its holdings in shares of 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. 92.92% of the stock is owned by institutional investors and hedge funds.

About Denali Therapeutics

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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