BTIG Research Increases Denali Therapeutics (NASDAQ:DNLI) Price Target to $36.00

Denali Therapeutics (NASDAQ:DNLI) had its price objective increased by investment analysts at BTIG Research from $32.00 to $36.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price target would suggest a potential upside of 69.97% from the company’s previous close.

Several other equities analysts have also recently commented on DNLI. Morgan Stanley restated an “overweight” rating and set a $40.00 target price on shares of Denali Therapeutics in a research report on Thursday, January 8th. Wedbush lowered their target price on shares of Denali Therapeutics from $31.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, December 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Denali Therapeutics in a research report on Wednesday, January 21st. JPMorgan Chase & Co. increased their price target on shares of Denali Therapeutics from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. Finally, Stifel Nicolaus set a $37.00 price objective on shares of Denali Therapeutics in a report on Monday, November 17th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.64.

Denali Therapeutics Trading Down 1.1%

Shares of Denali Therapeutics stock opened at $21.18 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.16 and a quick ratio of 9.16. The firm has a market cap of $3.11 billion, a PE ratio of -7.13 and a beta of 1.02. Denali Therapeutics has a 1 year low of $10.57 and a 1 year high of $23.77. The stock has a fifty day moving average price of $19.09 and a 200-day moving average price of $17.12.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.73) EPS for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.02. During the same period in the previous year, the firm posted ($0.67) EPS. Equities research analysts anticipate that Denali Therapeutics will post -2.71 EPS for the current year.

Insider Activity

In other Denali Therapeutics news, insider Alexander O. Schuth sold 17,218 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $16.50, for a total value of $284,097.00. Following the transaction, the insider directly owned 282,828 shares of the company’s stock, valued at approximately $4,666,662. This trade represents a 5.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ryan J. Watts sold 35,198 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $16.50, for a total transaction of $580,767.00. Following the sale, the chief executive officer directly owned 296,833 shares of the company’s stock, valued at approximately $4,897,744.50. This represents a 10.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 12.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in DNLI. Groupama Asset Managment boosted its position in shares of Denali Therapeutics by 11.7% during the fourth quarter. Groupama Asset Managment now owns 151,591 shares of the company’s stock worth $2,503,000 after acquiring an additional 15,833 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in shares of Denali Therapeutics by 28.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,254,132 shares of the company’s stock valued at $119,766,000 after purchasing an additional 1,615,565 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Denali Therapeutics by 17.0% in the fourth quarter. Invesco Ltd. now owns 291,936 shares of the company’s stock worth $4,820,000 after purchasing an additional 42,469 shares during the last quarter. Vestal Point Capital LP purchased a new stake in shares of Denali Therapeutics in the fourth quarter worth about $7,677,000. Finally, Virtus Investment Advisers LLC grew its holdings in Denali Therapeutics by 94.1% during the 4th quarter. Virtus Investment Advisers LLC now owns 14,795 shares of the company’s stock valued at $244,000 after buying an additional 7,171 shares in the last quarter. 92.92% of the stock is owned by hedge funds and other institutional investors.

Denali Therapeutics Company Profile

Denali Therapeutics is a clinical‐stage biopharmaceutical company focused on developing therapies for neurodegenerative diseases. The company’s research leverages a proprietary Blood–Brain Barrier Transport Vehicle (TV) platform designed to enable large molecules, including antibodies and enzymes, to penetrate the central nervous system. Denali’s approach includes small molecules, monoclonal antibodies and gene therapy candidates aimed at key drivers of disorders such as Alzheimer’s disease, Parkinson’s disease, amyotrophic lateral sclerosis (ALS) and frontotemporal dementia.

Among Denali’s lead programs is an orally delivered leucine‐rich repeat kinase 2 (LRRK2) inhibitor for Parkinson’s disease, and an anti‐TREM2 antibody designed to modulate microglial activity in Alzheimer’s patients.