Denali Therapeutics (NASDAQ:DNLI) Price Target Cut to $38.00

Denali Therapeutics (NASDAQ:DNLI – Get Rating) had its target price dropped by analysts at Wedbush from $46.00 to $38.00 in a note issued to investors on Tuesday, The Fly reports. The firm presently has an “outperform” rating on the stock. Wedbush’s price objective would indicate a potential upside of 39.19% from the company’s previous close.

A number of other research firms have also recently weighed in on DNLI. SVB Leerink reaffirmed an “outperform” rating and issued a $50.00 price objective on shares of Denali Therapeutics in a report on Monday, January 30th. SVB Securities began coverage on Denali Therapeutics in a research report on Monday, January 30th. They set an “outperform” rating and a $50.00 price objective for the company. BTIG Research upgraded Denali Therapeutics from a “neutral” rating to a “buy” rating and set a $38.00 target price on the stock in a research report on Wednesday, November 2nd. Bank of America initiated coverage on Denali Therapeutics in a research report on Wednesday, November 2nd. They set a “buy” rating and a $40.00 price target for the company. Finally, Cowen initiated coverage on Denali Therapeutics in a report on Monday, December 5th. They set an “outperform” rating on the stock. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $55.30.

Denali Therapeutics Stock Up 0.6 %

DNLI opened at $27.30 on Tuesday. The company’s 50-day moving average price is $29.20 and its 200 day moving average price is $29.77. Denali Therapeutics has a fifty-two week low of $20.24 and a fifty-two week high of $39.43. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of -10.50 and a beta of 1.37.

Denali Therapeutics (NASDAQ:DNLI – Get Rating) last announced its quarterly earnings results on Monday, February 27th. The company reported ($0.75) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.77) by $0.02. The business had revenue of $10.28 million for the quarter, compared to the consensus estimate of $11.29 million. Denali Therapeutics had a negative return on equity of 37.42% and a negative net margin of 300.55%. The business’s revenue was down 17.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.62) EPS. Research analysts anticipate that Denali Therapeutics will post -3.08 earnings per share for the current year.

Insider Buying and Selling

In other Denali Therapeutics news, insider Carole Ho sold 1,521 shares of the company’s stock in a transaction dated Wednesday, February 8th. The shares were sold at an average price of $30.88, for a total value of $46,968.48. Following the completion of the sale, the insider now directly owns 180,183 shares of the company’s stock, valued at approximately $5,564,051.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Denali Therapeutics news, insider Carole Ho sold 1,521 shares of Denali Therapeutics stock in a transaction that occurred on Wednesday, February 8th. The shares were sold at an average price of $30.88, for a total value of $46,968.48. Following the transaction, the insider now owns 180,183 shares in the company, valued at $5,564,051.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Steve E. Krognes sold 2,119 shares of the stock in a transaction on Monday, February 13th. The shares were sold at an average price of $30.10, for a total value of $63,781.90. Following the sale, the director now owns 143,002 shares of the company’s stock, valued at approximately $4,304,360.20. The disclosure for this sale can be found here. Insiders have sold a total of 91,020 shares of company stock valued at $2,689,975 over the last three months. Company insiders own 12.70% of the company’s stock.

Hedge Funds Weigh In On Denali Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its holdings in shares of Denali Therapeutics by 17.1% in the first quarter. JPMorgan Chase & Co. now owns 97,372 shares of the company’s stock worth $3,133,000 after buying an additional 14,227 shares during the period. MetLife Investment Management LLC grew its position in Denali Therapeutics by 55.6% during the 1st quarter. MetLife Investment Management LLC now owns 50,392 shares of the company’s stock worth $1,621,000 after purchasing an additional 18,003 shares in the last quarter. Rhumbline Advisers raised its stake in Denali Therapeutics by 0.5% during the 1st quarter. Rhumbline Advisers now owns 97,145 shares of the company’s stock valued at $3,125,000 after purchasing an additional 496 shares during the period. BlackRock Inc. lifted its holdings in shares of Denali Therapeutics by 0.9% in the first quarter. BlackRock Inc. now owns 8,185,740 shares of the company’s stock valued at $263,336,000 after purchasing an additional 74,918 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Denali Therapeutics by 13.7% during the first quarter. Dimensional Fund Advisors LP now owns 878,224 shares of the company’s stock valued at $28,253,000 after buying an additional 106,027 shares in the last quarter. Hedge funds and other institutional investors own 67.26% of the company’s stock.

About Denali Therapeutics

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Denali Therapeutics, Inc is a biopharmaceutical company, which engages in the development and commercialization of a portfolio of product candidates for neurodegenerative diseases. Its product pipeline includes LRRK2, RIPK1, TREM2, and Tau. The company was founded by Ryan J. Watts, Marc Tessier-Lavigne, and Alexander Schuth on October 14, 2013 and is headquartered in San Francisco, CA.