Q1 2023 Earnings Estimate for Denali Therapeutics Inc. (NASDAQ:DNLI) Issued By Zacks Research

Denali Therapeutics Inc. (NASDAQ:DNLI – Get Rating) – Investment analysts at Zacks Research dropped their Q1 2023 earnings estimates for Denali Therapeutics in a report released on Monday, March 13th. Zacks Research analyst E. Bagri now forecasts that the company will post earnings of ($0.78) per share for the quarter, down from their prior forecast of ($0.76). The consensus estimate for Denali Therapeutics’ current full-year earnings is ($3.42) per share. Zacks Research also issued estimates for Denali Therapeutics’ Q2 2023 earnings at ($0.99) EPS, Q3 2023 earnings at ($1.05) EPS, Q4 2023 earnings at ($0.96) EPS, FY2023 earnings at ($3.77) EPS, Q1 2024 earnings at ($0.99) EPS, Q2 2024 earnings at ($1.05) EPS, Q3 2024 earnings at ($1.04) EPS, Q4 2024 earnings at ($1.02) EPS and FY2024 earnings at ($4.10) EPS.

Several other equities analysts also recently weighed in on the company. Evercore ISI reduced their target price on Denali Therapeutics from $80.00 to $50.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 28th. Stifel Nicolaus cut their price objective on shares of Denali Therapeutics from $36.00 to $32.00 in a report on Thursday, March 2nd. Cowen assumed coverage on shares of Denali Therapeutics in a report on Monday, December 5th. They issued an “outperform” rating for the company. HC Wainwright reaffirmed a “buy” rating and set a $105.00 price target on shares of Denali Therapeutics in a research note on Thursday, February 23rd. Finally, Cowen assumed coverage on shares of Denali Therapeutics in a report on Monday, December 5th. They issued an “outperform” rating on the stock. Thirteen analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $54.58.

Denali Therapeutics Stock Down 1.6 %

DNLI stock opened at $23.44 on Thursday. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of -9.02 and a beta of 1.39. Denali Therapeutics has a 52-week low of $20.24 and a 52-week high of $39.43. The stock’s fifty day simple moving average is $28.56 and its 200-day simple moving average is $29.17.

Denali Therapeutics (NASDAQ:DNLI – Get Rating) last released 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. Denali Therapeutics had a negative net margin of 300.55% and a negative return on equity of 35.67%. The firm had revenue of $10.28 million during the quarter, compared to analysts’ expectations of $11.29 million. During the same period in the previous year, the company earned ($0.62) EPS. Denali Therapeutics’s revenue for the quarter was down 17.8% on a year-over-year basis.

Institutional Trading of Denali Therapeutics

Hedge funds have recently made changes to their positions in the company. Baillie Gifford & Co. boosted its stake in shares of 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 $420,473,000 after purchasing an additional 404,423 shares during the period. Vanguard Group Inc. boosted its position in Denali Therapeutics by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 8,402,031 shares of the company’s stock valued at $257,858,000 after buying an additional 99,530 shares during the last quarter. BlackRock Inc. grew its stake in shares of Denali Therapeutics by 0.9% during the first quarter. BlackRock Inc. now owns 8,185,740 shares of the company’s stock valued at $263,336,000 after acquiring an additional 74,918 shares in the last quarter. Temasek Holdings Private Ltd grew its stake in shares of Denali Therapeutics by 3.8% during the third quarter. Temasek Holdings Private Ltd now owns 5,576,041 shares of the company’s stock valued at $171,129,000 after acquiring an additional 206,554 shares in the last quarter. Finally, State Street Corp increased its position in shares of Denali Therapeutics by 11.8% during the third quarter. State Street Corp now owns 4,192,228 shares of the company’s stock worth $128,659,000 after acquiring an additional 441,528 shares during the last quarter. Hedge funds and other institutional investors own 67.26% of the company’s stock.

Insider Transactions at Denali Therapeutics

In other news, CEO Ryan J. Watts sold 33,815 shares of the firm’s stock in a transaction on Monday, February 13th. The shares were sold at an average price of $30.08, for a total value of $1,017,155.20. Following the transaction, the chief executive officer now owns 2,239,913 shares of the company’s stock, valued at approximately $67,376,583.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Ryan J. Watts sold 33,815 shares of the company’s stock in a transaction dated Monday, February 13th. The stock was sold at an average price of $30.08, for a total value of $1,017,155.20. Following the completion of the sale, the chief executive officer now owns 2,239,913 shares of the company’s stock, valued at $67,376,583.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Alexander O. Schuth sold 10,000 shares of the stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $29.53, for a total value of $295,300.00. Following the completion of the sale, the insider now owns 497,173 shares of the company’s stock, valued at approximately $14,681,518.69. The disclosure for this sale can be found here. Insiders sold 91,020 shares of company stock valued at $2,689,975 over the last 90 days. Corporate insiders own 12.70% 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.