Denali Therapeutics Inc. (NASDAQ:DNLI) Receives $33.71 Average Price Target from Analysts

Denali Therapeutics Inc. (NASDAQ:DNLI) has been given an average rating of “Buy” by the seventeen analysts that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $33.71.

A number of brokerages recently weighed in on DNLI. Wedbush cut their price objective on Denali Therapeutics from $32.00 to $30.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th. Cantor Fitzgerald raised Denali Therapeutics from a “neutral” rating to an “overweight” rating in a report on Thursday, April 10th. Morgan Stanley started coverage on Denali Therapeutics in a research note on Friday, March 7th. They issued an “overweight” rating and a $33.00 price target on the stock. Robert W. Baird cut their price objective on Denali Therapeutics from $30.00 to $29.00 and set an “outperform” rating for the company in a research report on Thursday, May 8th. Finally, B. Riley restated a “buy” rating and set a $35.00 target price (down previously from $38.00) on shares of Denali Therapeutics in a research report on Wednesday, March 5th.

Denali Therapeutics Stock Down 0.5%

Shares of DNLI stock opened at $15.19 on Monday. Denali Therapeutics has a fifty-two week low of $10.57 and a fifty-two week high of $33.33. The stock has a market capitalization of $2.21 billion, a P/E ratio of -5.50 and a beta of 1.32. The stock has a 50-day simple moving average of $14.03 and a 200 day simple moving average of $17.99.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($0.07). During the same period in the previous year, the firm earned ($0.68) earnings per share. On average, sell-side analysts anticipate that Denali Therapeutics will post -2.71 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd increased its position in shares of Denali Therapeutics by 277.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 2,111 shares of the company’s stock worth $29,000 after purchasing an additional 1,551 shares in the last quarter. Sterling Capital Management LLC lifted its stake in shares of Denali Therapeutics by 589.9% in the 4th quarter. Sterling Capital Management LLC now owns 1,773 shares of the company’s stock valued at $36,000 after purchasing an additional 1,516 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Denali Therapeutics in the 1st quarter valued at $41,000. GF Fund Management CO. LTD. purchased a new stake in Denali Therapeutics during the 4th quarter worth about $62,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Denali Therapeutics in the 4th quarter valued at about $65,000. Hedge funds and other institutional investors 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.