Denali Therapeutics Inc. (NASDAQ:DNLI) Receives $38.00 Average Target Price from Brokerages

Denali Therapeutics Inc. (NASDAQ:DNLI) has been given a consensus recommendation of “Moderate Buy” by the fourteen brokerages that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $38.00.

Several analysts have recently issued reports on DNLI shares. William Blair reaffirmed an “outperform” rating on shares of Denali Therapeutics in a report on Wednesday, January 15th. Baird R W raised Denali Therapeutics to a “strong-buy” rating in a research report on Tuesday, January 7th. HC Wainwright lowered their target price on Denali Therapeutics from $90.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. JPMorgan Chase & Co. lowered their target price on Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Finally, Robert W. Baird initiated coverage on Denali Therapeutics in a research note on Tuesday, January 7th. They set an “outperform” rating and a $31.00 price objective for the company.

Insider Buying and Selling at Denali Therapeutics

In other Denali Therapeutics news, CEO Ryan J. Watts sold 29,266 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $20.22, for a total transaction of $591,758.52. Following the transaction, the chief executive officer now owns 260,721 shares in the company, valued at approximately $5,271,778.62. The trade was a 10.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Carole Ho sold 12,255 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $20.22, for a total value of $247,796.10. Following the completion of the sale, the insider now owns 178,580 shares in the company, valued at approximately $3,610,887.60. This represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,940 shares of company stock valued at $973,442 in the last ninety days. Insiders own 7.90% of the company’s stock.

Institutional Investors Weigh In On Denali Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of DNLI. Victory Capital Management Inc. lifted its stake in shares of Denali Therapeutics by 163.7% during the 3rd quarter. Victory Capital Management Inc. now owns 39,900 shares of the company’s stock worth $1,162,000 after purchasing an additional 24,767 shares during the period. FMR LLC lifted its stake in shares of Denali Therapeutics by 3,234.3% during the 3rd quarter. FMR LLC now owns 7,831,378 shares of the company’s stock worth $228,128,000 after purchasing an additional 7,596,508 shares during the period. Algert Global LLC lifted its stake in shares of Denali Therapeutics by 82.4% during the 3rd quarter. Algert Global LLC now owns 48,630 shares of the company’s stock worth $1,417,000 after purchasing an additional 21,975 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Denali Therapeutics by 6.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 235,386 shares of the company’s stock worth $6,857,000 after purchasing an additional 14,324 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Denali Therapeutics by 13.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company’s stock worth $36,076,000 after purchasing an additional 149,939 shares during the period. Hedge funds and other institutional investors own 92.92% of the company’s stock.

Denali Therapeutics Trading Down 6.2 %

NASDAQ DNLI opened at $20.88 on Tuesday. The stock’s 50 day moving average is $22.10 and its 200 day moving average is $24.82. Denali Therapeutics has a 12 month low of $14.56 and a 12 month high of $33.33. The stock has a market cap of $3.01 billion, a PE ratio of -7.57 and a beta of 1.43.

Denali Therapeutics Company Profile

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.