Denali Therapeutics (NASDAQ:DNLI) Receives "Overweight" Rating from JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. reiterated its Overweight rating on Denali Therapeutics and set a $29 price target, implying about 12.9% upside from the prior close.
• Other analysts remain generally positive: the stock has a Moderate Buy consensus with an average target price of $34.50, though opinions vary from Strong Buy to Sell.
• Denali reported a quarterly EPS loss of $0.69, better than expected, and the company continues to focus on neurodegenerative disease therapies using its Blood–Brain Barrier Transport Vehicle platform.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report)'s stock had its "overweight" rating reiterated by stock analysts at JPMorgan Chase & Co. in a report issued on Monday,Benzinga reports. They currently have a $29.00 price target on the stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 12.93% from the stock's previous close.

Several other analysts also recently commented on the stock. Robert W. Baird raised their price objective on shares of Denali Therapeutics from $32.00 to $34.00 and gave the company an "outperform" rating in a research report on Tuesday, April 7th. Sanford C. Bernstein reaffirmed a "hold" rating on shares of Denali Therapeutics in a report on Monday, June 22nd. HC Wainwright increased their price target on Denali Therapeutics from $32.00 to $42.00 and gave the stock a "buy" rating in a research note on Thursday, March 26th. UBS Group reissued a "buy" rating on shares of Denali Therapeutics in a report on Tuesday, June 16th. Finally, Wall Street Zen raised Denali Therapeutics from a "strong sell" rating to a "sell" rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $34.50.

Denali Therapeutics Price Performance

DNLI opened at $25.68 on Monday. The firm's 50 day simple moving average is $21.79 and its two-hundred day simple moving average is $20.38. The company has a market capitalization of $4.08 billion, a PE ratio of -8.92 and a beta of 0.96. Denali Therapeutics has a 1-year low of $12.58 and a 1-year high of $27.30. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 0.01.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.69) EPS for the quarter, topping the consensus estimate of ($0.73) by $0.04. During the same period in the previous year, the business earned ($0.78) earnings per share. As a group, equities analysts forecast that Denali Therapeutics will post -2.77 EPS for the current year.

Institutional Investors Weigh In On Denali Therapeutics

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Denali Therapeutics by 8.9% during the fourth quarter. Vanguard Group Inc. now owns 13,057,890 shares of the company's stock valued at $215,586,000 after buying an additional 1,064,972 shares during the last quarter. Baillie Gifford & Co. raised its holdings in shares of Denali Therapeutics by 6.2% during the 4th quarter. Baillie Gifford & Co. now owns 12,310,889 shares of the company's stock worth $203,253,000 after acquiring an additional 719,304 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of Denali Therapeutics by 28.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,254,132 shares of the company's stock valued at $119,766,000 after acquiring an additional 1,615,565 shares during the last quarter. Temasek Holdings Private Ltd boosted its position in shares of Denali Therapeutics by 30.9% during the 4th quarter. Temasek Holdings Private Ltd now owns 7,012,974 shares of the company's stock valued at $115,784,000 after acquiring an additional 1,657,142 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Denali Therapeutics by 14.6% in the fourth quarter. State Street Corp now owns 6,263,371 shares of the company's stock valued at $103,408,000 after purchasing an additional 799,110 shares in the last quarter. 92.92% of the stock is owned by institutional investors.

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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