Denali Therapeutics (NASDAQ:DNLI) Sets New 52-Week High – Time to Buy?

Denali Therapeutics Inc. (NASDAQ:DNLI) shares hit a new 52-week high on Thursday . The stock traded as high as $24.21 and last traded at $23.49, with a volume of 2593212 shares traded. The stock had previously closed at $21.93.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on DNLI shares. Deutsche Bank Aktiengesellschaft set a $31.00 price target on shares of Denali Therapeutics in a research report on Friday, May 22nd. Wall Street Zen upgraded shares of Denali Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. UBS Group restated a “buy” rating on shares of Denali Therapeutics in a research report on Tuesday. Wedbush reduced their price target on shares of Denali Therapeutics from $25.00 to $23.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. Finally, HC Wainwright boosted their price target on shares of Denali Therapeutics from $32.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Denali Therapeutics has an average rating of “Moderate Buy” and an average price target of $34.25.

Denali Therapeutics Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 9.28 and a quick ratio of 9.28. The firm has a market cap of $3.73 billion, a P/E ratio of -8.16 and a beta of 1.03. The stock’s 50-day simple moving average is $19.94 and its two-hundred day simple moving average is $19.52.

Denali Therapeutics (NASDAQ:DNLI) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.69) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.04. During the same quarter in the prior year, the firm posted ($0.78) EPS. Equities research analysts forecast that Denali Therapeutics Inc. will post -2.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Denali Therapeutics by 8.9% during the fourth quarter. Vanguard Group Inc. now owns 13,057,890 shares of the company’s stock valued at $215,586,000 after acquiring an additional 1,064,972 shares during the last quarter. Baillie Gifford & Co. increased its position in Denali Therapeutics by 6.2% during the fourth quarter. Baillie Gifford & Co. now owns 12,310,889 shares of the company’s stock valued at $203,253,000 after acquiring an additional 719,304 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of Denali Therapeutics by 28.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,254,132 shares of the company’s stock worth $119,766,000 after purchasing an additional 1,615,565 shares during the last quarter. Temasek Holdings Private Ltd grew its holdings in shares of Denali Therapeutics by 30.9% in the fourth quarter. Temasek Holdings Private Ltd now owns 7,012,974 shares of the company’s stock worth $115,784,000 after purchasing an additional 1,657,142 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Denali Therapeutics by 14.6% in the fourth quarter. State Street Corp now owns 6,263,371 shares of the company’s stock worth $103,408,000 after purchasing an additional 799,110 shares during the last quarter. Institutional investors own 92.92% of the company’s stock.

About Denali Therapeutics

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.