Denali Therapeutics (NASDAQ:DNLI) Receives “Buy” Rating from BTIG Research

Denali Therapeutics (NASDAQ:DNLI)‘s stock had its “buy” rating reissued by investment analysts at BTIG Research in a research note issued on Friday,Benzinga reports. They currently have a $32.00 price target on the stock. BTIG Research’s price objective indicates a potential upside of 59.12% from the company’s current price.

A number of other research firms have also weighed in on DNLI. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Denali Therapeutics in a research report on Wednesday, October 8th. Cantor Fitzgerald reissued an “overweight” rating on shares of Denali Therapeutics in a research note on Monday, September 8th. Stifel Nicolaus set a $37.00 price target on Denali Therapeutics in a research report on Monday, November 17th. Morgan Stanley lowered their price objective on Denali Therapeutics from $33.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, August 18th. Finally, Wedbush reiterated an “outperform” rating on shares of Denali Therapeutics in a report on Friday. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $32.58.

Denali Therapeutics Stock Performance

Shares of Denali Therapeutics stock opened at $20.11 on Friday. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of -6.91 and a beta of 1.11. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.79 and a quick ratio of 9.79. The business has a 50-day moving average of $16.56 and a 200 day moving average of $15.08. Denali Therapeutics has a 12 month low of $10.57 and a 12 month high of $26.18.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.74) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.02. The firm’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.63) EPS. As a group, sell-side analysts forecast that Denali Therapeutics will post -2.71 earnings per share for the current year.

Institutional Trading of Denali Therapeutics

Several institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC purchased a new stake in Denali Therapeutics in the second quarter valued at $26,000. 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. Johnson Financial Group Inc. purchased a new stake in shares of Denali Therapeutics in the 3rd quarter valued at about $29,000. State of Wyoming purchased a new stake in shares of Denali Therapeutics in the 2nd quarter valued at about $29,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Denali Therapeutics in the 1st quarter valued at about $41,000. 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.