Denali Therapeutics Inc. (NASDAQ:DNLI) Forecasted to Earn Q1 2024 Earnings of ($0.76) Per Share

Denali Therapeutics Inc. (NASDAQ:DNLIFree Report) – Zacks Research raised their Q1 2024 EPS estimates for shares of Denali Therapeutics in a note issued to investors on Monday, March 18th. Zacks Research analyst A. Chakraborty now forecasts that the company will post earnings per share of ($0.76) for the quarter, up from their previous forecast of ($0.98). The consensus estimate for Denali Therapeutics’ current full-year earnings is ($2.66) per share. Zacks Research also issued estimates for Denali Therapeutics’ Q2 2024 earnings at ($0.73) EPS, Q3 2024 earnings at ($0.70) EPS, Q4 2024 earnings at ($0.74) EPS, FY2024 earnings at ($2.93) EPS, Q1 2025 earnings at ($0.67) EPS, Q2 2025 earnings at ($0.65) EPS, Q3 2025 earnings at ($0.68) EPS, Q4 2025 earnings at ($0.75) EPS and FY2025 earnings at ($2.74) EPS.

A number of other research analysts also recently issued reports on the stock. The Goldman Sachs Group dropped their price target on shares of Denali Therapeutics from $73.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Wedbush reiterated an “outperform” rating and issued a $31.00 price objective on shares of Denali Therapeutics in a research note on Wednesday, February 28th. Citigroup assumed coverage on shares of Denali Therapeutics in a research note on Wednesday, December 13th. They issued a “buy” rating and a $32.00 price objective for the company. Finally, HC Wainwright lowered their price objective on shares of Denali Therapeutics from $105.00 to $95.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, Denali Therapeutics has a consensus rating of “Buy” and a consensus target price of $44.67.

Check Out Our Latest Stock Analysis on Denali Therapeutics

Denali Therapeutics Stock Performance

Shares of NASDAQ DNLI opened at $21.29 on Wednesday. The company has a market capitalization of $2.96 billion, a P/E ratio of -19.71 and a beta of 1.34. Denali Therapeutics has a 52-week low of $15.45 and a 52-week high of $33.31. The company’s 50 day moving average price is $18.40 and its 200-day moving average price is $19.77.

Denali Therapeutics (NASDAQ:DNLIGet Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.81) by ($0.05). Denali Therapeutics had a negative return on equity of 13.50% and a negative net margin of 36.51%. During the same quarter last year, the company posted ($0.75) earnings per share.

Hedge Funds Weigh In On Denali Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in DNLI. JPMorgan Chase & Co. boosted its holdings in shares of Denali Therapeutics by 17.1% in the 1st 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 last quarter. MetLife Investment Management LLC lifted its holdings in Denali Therapeutics by 55.6% during the first quarter. MetLife Investment Management LLC now owns 50,392 shares of the company’s stock valued at $1,621,000 after purchasing an additional 18,003 shares during the last quarter. Rhumbline Advisers lifted its holdings in Denali Therapeutics by 0.5% during the first 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 last quarter. BlackRock Inc. lifted its holdings in 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 purchasing an additional 74,918 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in 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 purchasing an additional 106,027 shares during the last quarter. 78.04% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Denali Therapeutics news, insider Carole Ho sold 9,972 shares of Denali Therapeutics stock in a transaction on Friday, January 5th. The shares were sold at an average price of $19.43, for a total transaction of $193,755.96. Following the transaction, the insider now directly owns 198,777 shares of the company’s stock, valued at approximately $3,862,237.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Denali Therapeutics news, insider Carole Ho sold 9,972 shares of Denali Therapeutics stock in a transaction on Friday, January 5th. The shares were sold at an average price of $19.43, for a total transaction of $193,755.96. Following the transaction, the insider now directly owns 198,777 shares of the company’s stock, valued at approximately $3,862,237.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Vicki L. Sato sold 1,666 shares of Denali Therapeutics stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $18.37, for a total transaction of $30,604.42. Following the transaction, the director now directly owns 121,375 shares in the company, valued at $2,229,658.75. The disclosure for this sale can be found here. Insiders have sold 61,604 shares of company stock valued at $1,161,976 in the last three months. 7.90% of the stock is currently owned by insiders.

Denali Therapeutics Company Profile

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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.

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Earnings History and Estimates for Denali Therapeutics (NASDAQ:DNLI)

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