Denali Therapeutics (NASDAQ:DNLI) Shares Gap Up - Time to Buy?

Denali Therapeutics Inc. (NASDAQ:DNLI - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $13.99, but opened at $14.49. Denali Therapeutics shares last traded at $14.29, with a volume of 248,206 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Wedbush cut their price target on shares of Denali Therapeutics from $32.00 to $30.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. HC Wainwright cut their target price on shares of Denali Therapeutics from $80.00 to $32.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Bank of America reduced their price target on shares of Denali Therapeutics from $28.00 to $27.00 and set a "buy" rating on the stock in a research report on Monday, May 19th. Morgan Stanley began coverage on shares of Denali Therapeutics in a report on Friday, March 7th. They issued an "overweight" rating and a $33.00 price objective for the company. Finally, William Blair upgraded Denali Therapeutics to a "strong-buy" rating in a report on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $33.71.

Denali Therapeutics Stock Performance

The stock has a 50-day moving average of $14.44 and a two-hundred day moving average of $16.88. The company has a market cap of $2.13 billion, a P/E ratio of -5.50 and a beta of 1.33.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.07). During the same quarter in the previous year, the company posted ($0.68) earnings per share. Research analysts predict that Denali Therapeutics Inc. will post -2.71 EPS for the current year.

Institutional Trading of Denali Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. KLP Kapitalforvaltning AS purchased a new stake in shares of Denali Therapeutics during the fourth quarter valued at approximately $532,000. SG Americas Securities LLC lifted its position in Denali Therapeutics by 339.6% in the 1st quarter. SG Americas Securities LLC now owns 48,365 shares of the company's stock valued at $658,000 after acquiring an additional 37,362 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Denali Therapeutics during the 4th quarter valued at $514,000. Vanguard Group Inc. increased its holdings in shares of Denali Therapeutics by 7.6% in the 4th quarter. Vanguard Group Inc. now owns 12,021,230 shares of the company's stock worth $244,993,000 after purchasing an additional 843,996 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Denali Therapeutics in the fourth quarter worth $21,717,000. 92.92% of the stock is currently owned by institutional investors.

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.