Denali Therapeutics (NASDAQ:DNLI) Trading Up 9.3% – Still a Buy?

Denali Therapeutics Inc. (NASDAQ:DNLI)’s stock price shot up 9.3% during trading on Wednesday . The stock traded as high as $23.66 and last traded at $23.97. 474,482 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 1,745,651 shares. The stock had previously closed at $21.93.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on DNLI. Jefferies Financial Group reaffirmed a “buy” rating and set a $40.00 price target on shares of Denali Therapeutics in a research report on Monday, March 2nd. UBS Group restated a “buy” rating on shares of Denali Therapeutics in a research note on Tuesday. HC Wainwright raised 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. Wolfe Research started coverage on Denali Therapeutics in a report on Monday, February 23rd. They issued a “peer perform” rating for the company. Finally, Leerink Partners lowered their price objective on Denali Therapeutics from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 22nd. 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.25.

Denali Therapeutics Trading Down 0.8%

The stock has a market cap of $3.70 billion, a PE ratio of -8.09 and a beta of 1.03. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.28 and a current ratio of 9.28. The company has a 50 day moving average of $20.02 and a two-hundred day moving average of $19.54.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.69) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.04. During the same period in the previous year, the company posted ($0.78) EPS. Sell-side analysts anticipate that Denali Therapeutics Inc. will post -2.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Denali Therapeutics

A number of institutional investors have recently added to or reduced their stakes in DNLI. Headlands Technologies LLC purchased a new stake in Denali Therapeutics in the 2nd quarter worth $26,000. Johnson Financial Group Inc. acquired a new stake in shares of Denali Therapeutics in the third quarter valued at about $29,000. State of Wyoming acquired a new stake in shares of Denali Therapeutics in the second quarter valued at about $29,000. Fifth Third Bancorp purchased a new stake in shares of Denali Therapeutics during the first quarter worth about $55,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Denali Therapeutics during the fourth quarter worth about $57,000. Institutional investors and hedge funds 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.