HC Wainwright Reiterates “Buy” Rating for Denali Therapeutics (NASDAQ:DNLI)

Denali Therapeutics (NASDAQ:DNLI)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research note issued on Wednesday, Benzinga reports. They currently have a $95.00 target price on the stock. HC Wainwright’s price target would indicate a potential upside of 403.98% from the company’s current price. HC Wainwright also issued estimates for Denali Therapeutics’ Q2 2024 earnings at ($0.63) EPS, Q3 2024 earnings at ($0.63) EPS, Q4 2024 earnings at ($0.63) EPS, FY2024 earnings at ($2.67) EPS, FY2025 earnings at ($3.31) EPS, FY2026 earnings at ($0.65) EPS, FY2027 earnings at $1.99 EPS and FY2028 earnings at $4.48 EPS.

DNLI has been the subject of a number of other reports. UBS Group cut their target price on Denali Therapeutics from $70.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, April 9th. The Goldman Sachs Group cut their target price on Denali Therapeutics from $73.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Wedbush reiterated an “outperform” rating and set a $31.00 price objective on shares of Denali Therapeutics in a research report on Wednesday, February 28th. Finally, Stifel Nicolaus reduced their target price on Denali Therapeutics from $26.00 to $22.00 and set a “hold” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Denali Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $40.22.

Denali Therapeutics Stock Up 1.0 %

Shares of NASDAQ:DNLI traded up $0.18 during trading on Wednesday, hitting $18.85. 43,017 shares of the company traded hands, compared to its average volume of 1,165,063. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of -17.29 and a beta of 1.39. The business’s fifty day moving average is $18.77 and its 200-day moving average is $18.84. Denali Therapeutics has a one year low of $14.56 and a one year high of $33.31.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.68) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.01. Denali Therapeutics had a negative return on equity of 13.50% and a negative net margin of 36.51%. During the same period last year, the business posted ($0.80) earnings per share. On average, analysts forecast that Denali Therapeutics will post -2.61 EPS for the current year.

Insiders Place Their Bets

In other Denali Therapeutics news, Director Vicki L. Sato sold 1,666 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $18.37, for a total value of $30,604.42. Following the sale, the director now directly owns 121,375 shares in the company, valued at $2,229,658.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Vicki L. Sato sold 1,666 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $18.37, for a total value of $30,604.42. Following the completion of the transaction, the director now owns 121,375 shares in the company, valued at approximately $2,229,658.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Carole Ho sold 2,784 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $17.29, for a total value of $48,135.36. Following the completion of the transaction, the insider now owns 145,010 shares in the company, valued at approximately $2,507,222.90. The disclosure for this sale can be found here. Insiders have sold 110,955 shares of company stock worth $2,218,802 over the last 90 days. Corporate insiders own 7.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Wellington Management Group LLP increased its stake in shares of Denali Therapeutics by 3.6% in the 3rd quarter. Wellington Management Group LLP now owns 7,288,960 shares of the company’s stock valued at $150,371,000 after acquiring an additional 250,784 shares during the last quarter. Gotham Asset Management LLC bought a new stake in shares of Denali Therapeutics in the 3rd quarter valued at about $400,000. Eventide Asset Management LLC increased its stake in shares of Denali Therapeutics by 98.4% in the 3rd quarter. Eventide Asset Management LLC now owns 621,850 shares of the company’s stock valued at $12,829,000 after acquiring an additional 308,443 shares during the last quarter. abrdn plc bought a new stake in Denali Therapeutics during the 4th quarter worth approximately $6,971,000. Finally, GSA Capital Partners LLP bought a new stake in Denali Therapeutics during the 3rd quarter worth approximately $772,000. 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.