HC Wainwright Reiterates “Buy” Rating for Denali Therapeutics (NASDAQ:DNLI)

Denali Therapeutics (NASDAQ:DNLI)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $95.00 price objective on the stock. HC Wainwright’s target price indicates a potential upside of 392.23% from the stock’s current price.

DNLI has been the topic of several other research reports. UBS Group lowered their price target on shares of Denali Therapeutics from $70.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday, April 9th. Stifel Nicolaus lowered their price objective on Denali Therapeutics from $26.00 to $22.00 and set a “hold” rating for the company in a research note on Wednesday. The Goldman Sachs Group cut their price target on Denali Therapeutics from $73.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Finally, Wedbush reissued an “outperform” rating and issued a $31.00 target price on shares of Denali Therapeutics in a report on Wednesday, February 28th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $40.33.

Denali Therapeutics Stock Performance

Shares of NASDAQ:DNLI traded up $2.45 during midday trading on Wednesday, reaching $19.30. 492,491 shares of the company’s stock were exchanged, compared to its average volume of 1,153,974. Denali Therapeutics has a 12 month low of $14.56 and a 12 month high of $33.31. The company’s 50 day simple moving average is $18.82 and its two-hundred day simple moving average is $18.84. The firm has a market capitalization of $2.75 billion, a PE ratio of -17.87 and a beta of 1.39.

Denali Therapeutics (NASDAQ:DNLI) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.68) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.01. Denali Therapeutics had a negative return on equity of 13.50% and a negative net margin of 36.51%. During the same period in the prior year, the business earned ($0.80) earnings per share. On average, research analysts anticipate that Denali Therapeutics will post -2.61 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Ryan J. Watts sold 9,589 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $17.29, for a total transaction of $165,793.81. Following the transaction, the chief executive officer now owns 238,067 shares in the company, valued at approximately $4,116,178.43. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Ryan J. Watts sold 9,589 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $17.29, for a total value of $165,793.81. Following the transaction, the chief executive officer now owns 238,067 shares of the company’s stock, valued at approximately $4,116,178.43. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Steve E. Krognes sold 92,500 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $20.50, for a total transaction of $1,896,250.00. Following the completion of the sale, the director now owns 47,341 shares of the company’s stock, valued at approximately $970,490.50. The disclosure for this sale can be found here. Insiders sold a total of 110,955 shares of company stock worth $2,218,802 over the last quarter. Company insiders own 7.90% of the company’s stock.

Hedge Funds Weigh In On Denali Therapeutics

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Denali Therapeutics by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 10,834,483 shares of the company’s stock valued at $232,508,000 after acquiring an additional 236,702 shares in the last quarter. Wellington Management Group LLP grew its holdings in Denali Therapeutics by 3.6% during the 3rd quarter. Wellington Management Group LLP now owns 7,288,960 shares of the company’s stock worth $150,371,000 after acquiring an additional 250,784 shares during the period. Capital Research Global Investors increased its holdings in Denali Therapeutics by 1.0% in the fourth quarter. Capital Research Global Investors now owns 2,909,528 shares of the company’s stock worth $62,438,000 after purchasing an additional 29,205 shares in the last quarter. Federated Hermes Inc. boosted its stake in Denali Therapeutics by 27.1% during the third quarter. Federated Hermes Inc. now owns 1,351,900 shares of the company’s stock worth $27,890,000 after acquiring an additional 288,400 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Denali Therapeutics in the 4th quarter valued at about $24,736,000. 92.92% of the stock is owned by 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.