HC Wainwright Cuts Denali Therapeutics (NASDAQ:DNLI) Price Target to $32.00

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) had its target price reduced by HC Wainwright from $80.00 to $32.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. HC Wainwright's target price would suggest a potential upside of 134.00% from the stock's previous close.

DNLI has been the subject of a number of other reports. Bank of America cut their price objective on Denali Therapeutics from $30.00 to $28.00 and set a "buy" rating for the company in a report on Monday, March 10th. Morgan Stanley started coverage on Denali Therapeutics in a research report on Friday, March 7th. They issued an "overweight" rating and a $33.00 price objective for the company. Cantor Fitzgerald raised Denali Therapeutics from a "neutral" rating to an "overweight" rating in a report on Thursday, April 10th. The Goldman Sachs Group decreased their price target on Denali Therapeutics from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Tuesday, January 28th. Finally, Baird R W upgraded shares of Denali Therapeutics to a "strong-buy" rating in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $33.64.

Denali Therapeutics Stock Down 2.1 %

Shares of NASDAQ DNLI opened at $13.68 on Wednesday. The business has a fifty day simple moving average of $14.36 and a 200-day simple moving average of $20.28. The company has a market cap of $1.99 billion, a price-to-earnings ratio of -4.94 and a beta of 1.49. Denali Therapeutics has a 12 month low of $10.57 and a 12 month high of $33.33.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.78) earnings per share for the quarter, missing analysts' consensus estimates of ($0.71) by ($0.07). During the same period last year, the business earned ($0.68) EPS. As a group, sell-side analysts expect that Denali Therapeutics will post -2.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Denali Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Sterling Capital Management LLC lifted its stake in Denali Therapeutics by 589.9% in the 4th quarter. Sterling Capital Management LLC now owns 1,773 shares of the company's stock worth $36,000 after purchasing an additional 1,516 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in Denali Therapeutics during the fourth quarter valued at $62,000. Point72 Hong Kong Ltd bought a new stake in Denali Therapeutics during the fourth quarter valued at $65,000. PNC Financial Services Group Inc. grew its position in Denali Therapeutics by 30.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,790 shares of the company's stock worth $77,000 after buying an additional 885 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Denali Therapeutics by 253.8% in the 1st quarter. GAMMA Investing LLC now owns 7,953 shares of the company's stock valued at $108,000 after acquiring an additional 5,705 shares in the last quarter. 92.92% of the stock is owned by hedge funds and other institutional investors.

About Denali Therapeutics

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.