Denali Therapeutics Inc. (NASDAQ:DNLI) Given Average Recommendation of “Moderate Buy” by Brokerages

Denali Therapeutics Inc. (NASDAQ:DNLI) has earned an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $38.33.

DNLI has been the subject of several recent analyst reports. Wedbush decreased their price target 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. Bank of America lifted their price target on shares of Denali Therapeutics from $25.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. raised their target price on shares of Denali Therapeutics from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. HC Wainwright restated a “buy” rating and set a $90.00 price target on shares of Denali Therapeutics in a report on Wednesday, September 4th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $35.00 price objective on shares of Denali Therapeutics in a research note on Monday, September 9th.

Denali Therapeutics Stock Performance

NASDAQ:DNLI opened at $28.67 on Wednesday. The company has a market capitalization of $4.09 billion, a P/E ratio of -29.86 and a beta of 1.37. The stock’s 50 day moving average price is $25.56 and its 200 day moving average price is $21.87. Denali Therapeutics has a 52 week low of $14.56 and a 52 week high of $32.13.

Denali Therapeutics (NASDAQ:DNLI) last released 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 business had revenue of $1.00 million for the quarter, compared to the consensus estimate of $10.00 million. The firm’s revenue for the quarter was down 99.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.30 EPS. As a group, sell-side analysts forecast that Denali Therapeutics will post -2.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Denali Therapeutics

Several large investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its holdings in shares of 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 purchasing an additional 807 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Denali Therapeutics by 5.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,403 shares of the company’s stock valued at $613,000 after buying an additional 1,372 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Denali Therapeutics by 0.7% during the 1st quarter. Swiss National Bank now owns 218,200 shares of the company’s stock worth $4,477,000 after acquiring an additional 1,500 shares during the period. GAMMA Investing LLC boosted its position in shares of 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 acquiring an additional 1,847 shares in the last quarter. Finally, Arizona State Retirement System raised its position in Denali Therapeutics by 9.0% in the second quarter. Arizona State Retirement System now owns 33,114 shares of the company’s stock worth $769,000 after purchasing an additional 2,730 shares in the last quarter. Institutional investors and hedge funds own 92.92% of the company’s stock.

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.