Denali Therapeutics Inc. (NASDAQ:DNLI) Stock Has Average Price Target of $35.85

Denali Therapeutics Inc. (NASDAQ:DNLI) has earned a consensus rating of “Moderate Buy” from the sixteen analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $35.85.

DNLI has been the topic of several recent analyst reports. B. Riley Financial increased their price objective on shares of Denali Therapeutics from $30.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, August 25th. UBS Group lifted their target price on shares of Denali Therapeutics from $25.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, August 7th. JPMorgan Chase & Co. initiated coverage on shares of Denali Therapeutics in a research note on Monday, July 13th. They set an “overweight” rating and a $29.00 target price for the company. Deutsche Bank Aktiengesellschaft upped their price target on shares of Denali Therapeutics from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Denali Therapeutics in a research report on Thursday, October 15th.

Denali Therapeutics Trading Down 1.3%

Shares of DNLI stock opened at $18.41 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.37 and a quick ratio of 8.32. The company has a market cap of $2.94 billion, a price-to-earnings ratio of -6.48 and a beta of 1.02. The stock has a 50 day simple moving average of $21.16 and a 200-day simple moving average of $21.72. Denali Therapeutics has a 1-year low of $13.75 and a 1-year high of $27.30.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.17). The company had revenue of $3.60 million for the quarter, compared to analysts’ expectations of $2.15 million. During the same quarter in the prior year, the company earned ($0.72) earnings per share. On average, equities research analysts expect that Denali Therapeutics will post -2.70 EPS for the current fiscal year.

Insider Transactions at Denali Therapeutics

In related news, insider Alexander O. Schuth sold 2,768 shares of Denali Therapeutics stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $23.44, for a total value of $64,881.92. Following the sale, the insider directly owned 278,995 shares in the company, valued at approximately $6,539,642.80. The trade was a 0.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 9.70% of the company’s stock.

Hedge Funds Weigh In On Denali Therapeutics

Hedge funds have recently made changes to their positions in the company. Manchester Capital Management LLC boosted its stake in shares of Denali Therapeutics by 5,505.6% in the third quarter. Manchester Capital Management LLC now owns 2,018 shares of the company’s stock worth $42,000 after acquiring an additional 1,982 shares during the last quarter. E. Ohman J or Asset Management AB increased its position in shares of Denali Therapeutics by 3.1% during the third quarter. E. Ohman J or Asset Management AB now owns 165,000 shares of the company’s stock worth $3,411,000 after purchasing an additional 5,000 shares in the last quarter. Reyes Financial Architecture Inc. purchased a new stake in shares of Denali Therapeutics during the third quarter worth approximately $125,000. B. Riley Wealth Advisors Inc. raised its stake in Denali Therapeutics by 38.2% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 17,713 shares of the company’s stock valued at $366,000 after purchasing an additional 4,900 shares during the last quarter. Finally, Contravisory Investment Management Inc. raised its stake in Denali Therapeutics by 14.1% in the 3rd quarter. Contravisory Investment Management Inc. now owns 16,741 shares of the company’s stock valued at $346,000 after purchasing an additional 2,067 shares during the last quarter. Institutional investors and hedge funds own 92.92% of the company’s stock.

About Denali Therapeutics

Denali Therapeutics Inc is a biopharmaceutical company focused on discovering and developing therapies for patients with neurodegenerative diseases. The company’s research programs target conditions including Parkinson’s disease, Alzheimer’s disease, amyotrophic lateral sclerosis, and lysosomal storage disorders.

Denali uses its blood-brain barrier transport technology, known as the Transport Vehicle platform, to design medicines intended to deliver therapeutic proteins and other biologic treatments into the central nervous system.