Denali Therapeutics (NASDAQ:DNLI) Given New $30.00 Price Target at Wedbush

Denali Therapeutics (NASDAQ:DNLI) had its price target trimmed by Wedbush from $31.00 to $30.00 in a research report report published on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other equities analysts have also issued reports on DNLI. HC Wainwright reaffirmed a buy rating and set a $95.00 price target on shares of Denali Therapeutics in a research report on Wednesday. Stifel Nicolaus reduced their target price on shares of Denali Therapeutics from $26.00 to $22.00 and set a hold rating for the company in a report on Wednesday. The Goldman Sachs Group cut their price target on Denali Therapeutics from $73.00 to $50.00 and set a buy rating on the stock in a research report on Thursday, February 29th. Finally, UBS Group lowered their target price on Denali Therapeutics from $70.00 to $32.00 and set a buy rating on the stock in a research note on Tuesday, April 9th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $40.22.

Denali Therapeutics Price Performance

NASDAQ DNLI traded down $0.16 during trading on Wednesday, hitting $18.74. The company’s stock had a trading volume of 75,423 shares, compared to its average volume of 1,167,723. Denali Therapeutics has a fifty-two week low of $14.56 and a fifty-two week high of $33.31. The company has a market cap of $2.67 billion, a PE ratio of -17.50 and a beta of 1.39. The business’s 50 day simple moving average is $18.80 and its 200-day simple moving average is $18.84.

Denali Therapeutics (NASDAQ:DNLI) last released its earnings results on Tuesday, May 7th. The company reported ($0.68) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.01. Denali Therapeutics had a negative net margin of 36.51% and a negative return on equity of 13.50%. During the same quarter in the prior year, the firm posted ($0.80) EPS. Analysts expect that Denali Therapeutics will post -2.61 EPS for the current fiscal year.

Insider Transactions at Denali Therapeutics

In related news, CEO Ryan J. Watts sold 9,589 shares of Denali Therapeutics stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $17.29, for a total value of $165,793.81. Following the sale, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Ryan J. Watts sold 9,589 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $17.29, for a total value of $165,793.81. Following the transaction, the chief executive officer now directly owns 238,067 shares of the company’s stock, valued at approximately $4,116,178.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Vicki L. Sato sold 1,666 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $18.37, for a total value of $30,604.42. Following the sale, the director now owns 121,375 shares of the company’s stock, valued at $2,229,658.75. The disclosure for this sale can be found here. Insiders sold a total of 110,955 shares of company stock valued at $2,218,802 in the last three months. 7.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Denali Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Wellington Management Group LLP raised its holdings in Denali Therapeutics by 3.6% in the 3rd quarter. Wellington Management Group LLP now owns 7,288,960 shares of the company’s stock valued at $150,371,000 after acquiring an additional 250,784 shares during the last quarter. Gotham Asset Management LLC acquired a new stake in shares of Denali Therapeutics in the third quarter valued at approximately $400,000. Eventide Asset Management LLC lifted its position in Denali Therapeutics by 98.4% during the third quarter. Eventide Asset Management LLC now owns 621,850 shares of the company’s stock worth $12,829,000 after buying an additional 308,443 shares in the last quarter. abrdn plc acquired a new position in Denali Therapeutics during the fourth quarter worth $6,971,000. Finally, GSA Capital Partners LLP purchased a new stake in Denali Therapeutics in the 3rd quarter valued at $772,000. 92.92% of the stock is owned by hedge funds and other 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.