Evercore ISI Lowers Denali Therapeutics (NASDAQ:DNLI) Price Target to $50.00

Denali Therapeutics (NASDAQ:DNLI – Get Rating) had its target price reduced by stock analysts at Evercore ISI from $80.00 to $50.00 in a research report issued to clients and investors on Tuesday, The Fly reports. The firm currently has an “outperform” rating on the stock. Evercore ISI’s price target would indicate a potential upside of 83.15% from the company’s previous close.

DNLI has been the topic of several other research reports. Morgan Stanley increased their price target on shares of Denali Therapeutics from $60.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 25th. HC Wainwright reissued a “buy” rating and issued a $105.00 price objective on shares of Denali Therapeutics in a research note on Thursday, February 23rd. Cowen started coverage on Denali Therapeutics in a research report on Monday, December 5th. They set an “outperform” rating for the company. Cowen began coverage on Denali Therapeutics in a research note on Monday, December 5th. They issued an “outperform” rating for the company. Finally, BTIG Research upgraded shares of Denali Therapeutics from a “neutral” rating to a “buy” rating and set a $38.00 price objective on the stock in a research report on Wednesday, November 2nd. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Denali Therapeutics presently has a consensus rating of “Buy” and an average target price of $55.30.

Denali Therapeutics Trading Up 0.6 %

Denali Therapeutics stock opened at $27.30 on Tuesday. Denali Therapeutics has a 1 year low of $20.24 and a 1 year high of $39.43. The company has a market cap of $3.71 billion, a PE ratio of -10.50 and a beta of 1.37. The company’s 50-day moving average is $29.20 and its two-hundred day moving average is $29.77.

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

Insider Buying and Selling at Denali Therapeutics

In other Denali Therapeutics news, CEO Ryan J. Watts sold 5,029 shares of the firm’s stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $28.73, for a total value of $144,483.17. Following the completion of the sale, the chief executive officer now directly owns 2,213,464 shares of the company’s stock, valued at approximately $63,592,820.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Carole Ho sold 1,451 shares of Denali Therapeutics stock in a transaction on Friday, January 6th. The shares were sold at an average price of $28.67, for a total transaction of $41,600.17. Following the sale, the insider now directly owns 178,913 shares in the company, valued at approximately $5,129,435.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan J. Watts sold 5,029 shares of the firm’s stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $28.73, for a total transaction of $144,483.17. Following the transaction, the chief executive officer now directly owns 2,213,464 shares in the company, valued at $63,592,820.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,020 shares of company stock worth $2,689,975. Corporate insiders own 12.70% of the company’s stock.

Institutional Trading of Denali Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Denali Therapeutics in the fourth quarter valued at approximately $28,483,000. State Street Corp increased its holdings in Denali Therapeutics by 26.4% in the first quarter. State Street Corp now owns 3,826,792 shares of the company’s stock valued at $123,108,000 after buying an additional 799,221 shares during the last quarter. Millennium Management LLC bought a new stake in Denali Therapeutics in the second quarter valued at about $18,992,000. Point72 Asset Management L.P. acquired a new position in Denali Therapeutics in the third quarter valued at approximately $19,427,000. Finally, Baillie Gifford & Co. boosted its stake in Denali Therapeutics by 2.7% in the fourth quarter. Baillie Gifford & Co. now owns 15,119,474 shares of the company’s stock valued at $420,472,000 after acquiring an additional 404,423 shares during the period. Hedge funds and other institutional investors own 67.26% of the company’s stock.

Denali Therapeutics Company Profile

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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.