Denali Therapeutics (NASDAQ:DNLI) Given Buy Rating at HC Wainwright

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

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. boosted their price target on Denali Therapeutics from $28.00 to $29.00 and gave the company an overweight rating in a research note on Wednesday, July 10th. Stifel Nicolaus lowered their price objective on Denali Therapeutics from $26.00 to $22.00 and set a hold rating on the stock in a research report on Wednesday, May 8th. 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. Finally, Citigroup lifted their price target on shares of Denali Therapeutics from $26.00 to $32.00 and gave the stock a buy rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $38.30.

Denali Therapeutics Trading Up 0.2 %

DNLI opened at $25.16 on Wednesday. Denali Therapeutics has a 1-year low of $14.56 and a 1-year high of $25.90. The business has a 50 day moving average of $23.18 and a 200-day moving average of $20.68. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of -26.21 and a beta of 1.40.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.59) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.09. The company had revenue of $1.00 million during the quarter, compared to the consensus estimate of $10.00 million. During the same period last year, the company earned $1.30 earnings per share. Denali Therapeutics’s revenue for the quarter was down 99.7% on a year-over-year basis. Equities analysts predict that Denali Therapeutics will post -2.54 EPS for the current year.

Insider Activity

In related news, Director Steve E. Krognes sold 30,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $22.12, for a total transaction of $663,600.00. Following the completion of the sale, the director now owns 34,404 shares in the company, valued at approximately $761,016.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 7.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Denali Therapeutics

Large investors have recently bought and sold shares of the business. CWM LLC boosted its stake in Denali Therapeutics by 216.7% in the fourth quarter. CWM LLC now owns 2,011 shares of the company’s stock worth $43,000 after purchasing an additional 1,376 shares in 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 worth $48,000 after acquiring 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 worth $53,000 after acquiring an additional 807 shares during the last quarter. Fisher Asset Management LLC acquired a new stake in Denali Therapeutics in the 4th quarter valued at about $59,000. Finally, Assetmark Inc. raised its stake in shares of Denali Therapeutics by 65.3% in the fourth quarter. Assetmark Inc. now owns 3,550 shares of the company’s stock worth $76,000 after acquiring an additional 1,402 shares during the last quarter. 92.92% of the stock is currently owned by institutional investors.

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.