Denali Therapeutics (NASDAQ:DNLI) Given New $23.00 Price Target at Wedbush

Denali Therapeutics (NASDAQ:DNLI) had its price objective decreased by Wedbush from $25.00 to $23.00 in a research note published on Friday morning, Marketbeat Ratings reports. Wedbush currently has an outperform rating on the stock.

DNLI has been the subject of several other reports. Leerink Partners lowered their target price on shares of Denali Therapeutics from $40.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, April 22nd. The Goldman Sachs Group upped their price target on Denali Therapeutics from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, March 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Denali Therapeutics in a research note on Monday, April 20th. HC Wainwright boosted their target price on Denali Therapeutics from $32.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, March 26th. Finally, Robert W. Baird increased their target price on Denali Therapeutics from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.42.

Denali Therapeutics Stock Down 0.5%

NASDAQ:DNLI opened at $19.62 on Friday. 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’s 50-day moving average price is $20.19 and its 200-day moving average price is $18.86. The company has a market capitalization of $3.11 billion, a PE ratio of -6.81 and a beta of 0.99. Denali Therapeutics has a 1-year low of $12.58 and a 1-year high of $23.77.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.69) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.04. During the same quarter in the previous year, the firm earned ($0.78) EPS. On average, equities analysts predict that Denali Therapeutics will post -2.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Denali Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its stake in Denali Therapeutics by 8.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,220 shares of the company’s stock valued at $177,000 after purchasing an additional 739 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Denali Therapeutics by 13.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,692,175 shares of the company’s stock worth $51,687,000 after purchasing an additional 317,872 shares in the last quarter. D.A. Davidson & CO. raised its stake in shares of Denali Therapeutics by 3.1% in the first quarter. D.A. Davidson & CO. now owns 110,235 shares of the company’s stock worth $2,117,000 after purchasing an additional 3,302 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Denali Therapeutics by 0.8% in the first quarter. Bank of New York Mellon Corp now owns 768,039 shares of the company’s stock worth $14,746,000 after purchasing an additional 5,952 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its position in shares of Denali Therapeutics by 8.1% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 166,181 shares of the company’s stock valued at $3,190,000 after buying an additional 12,400 shares during the last quarter. 92.92% of the stock is currently 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.