Denali Therapeutics’ (DNLI) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Denali Therapeutics (NASDAQ:DNLI) in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has a $90.00 target price on the stock.

DNLI has been the subject of a number of other reports. Stifel Nicolaus decreased their price objective on Denali Therapeutics from $26.00 to $22.00 and set a hold rating for the company in a research report on Wednesday, May 8th. Citigroup increased their target price on Denali Therapeutics from $26.00 to $32.00 and gave the stock a buy rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. increased their target price on Denali Therapeutics from $28.00 to $29.00 and gave the stock an overweight rating in a research note on Wednesday, July 10th. Finally, Wedbush cut their target price on Denali Therapeutics from $30.00 to $26.00 and set an outperform rating for the company in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $38.33.

Denali Therapeutics Price Performance

Shares of NASDAQ DNLI opened at $25.25 on Wednesday. The stock has a market cap of $3.60 billion, a PE ratio of -26.30 and a beta of 1.40. Denali Therapeutics has a 52-week low of $14.56 and a 52-week high of $25.90. The business has a 50-day moving average price of $23.26 and a 200 day moving average price of $20.80.

Denali Therapeutics (NASDAQ:DNLI) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.59) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.09. The company had revenue of $1.00 million for the quarter, compared to analyst estimates of $10.00 million. During the same period in the previous year, the business posted $1.30 earnings per share. The firm’s revenue was down 99.7% compared to the same quarter last year. Sell-side analysts anticipate that Denali Therapeutics will post -2.54 earnings per share for the current year.

Insider Activity at Denali Therapeutics

In related news, Director Steve E. Krognes sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $22.12, for a total value of $663,600.00. Following the completion of the transaction, the director now directly owns 34,404 shares of the company’s stock, valued at approximately $761,016.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 7.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Denali Therapeutics

A number of large investors have recently bought and sold shares of DNLI. CWM LLC grew its holdings in Denali Therapeutics by 216.7% during the 4th quarter. CWM LLC now owns 2,011 shares of the company’s stock valued at $43,000 after buying an additional 1,376 shares during the last quarter. GAMMA Investing LLC grew its holdings in Denali Therapeutics by 879.5% during the 2nd quarter. GAMMA Investing LLC now owns 2,057 shares of the company’s stock valued at $48,000 after buying an additional 1,847 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Denali Therapeutics by 48.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,486 shares of the company’s stock valued at $53,000 after buying an additional 807 shares during the last quarter. Fisher Asset Management LLC acquired a new stake in Denali Therapeutics during the 4th quarter valued at $59,000. Finally, Assetmark Inc. boosted its holdings in shares of Denali Therapeutics by 65.3% during the fourth quarter. Assetmark Inc. now owns 3,550 shares of the company’s stock worth $76,000 after purchasing an additional 1,402 shares during the last quarter. Institutional investors and hedge funds own 92.92% of the company’s stock.

About Denali Therapeutics

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.