HC Wainwright Initiates Coverage on Denali Therapeutics (NASDAQ:DNLI)

Investment analysts at HC Wainwright started coverage on shares of Denali Therapeutics (NASDAQ:DNLI) in a research note issued to investors on Wednesday, June 26th, MarketBeat.com reports. The brokerage set a “buy” rating and a $28.00 price target on the stock. HC Wainwright’s price objective indicates a potential upside of 34.62% from the stock’s current price.

Several other analysts also recently weighed in on the company. ValuEngine upgraded WPP from a “sell” rating to a “hold” rating in a research note on Wednesday, June 19th. TheStreet raised SUMMIT THERAPEU/S from a “d” rating to a “c-” rating in a report on Thursday, June 13th. Finally, Zacks Investment Research cut Hersha Hospitality Trust from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $25.50.

Shares of NASDAQ:DNLI traded up $0.72 on Wednesday, reaching $20.80. The company had a trading volume of 171,326 shares, compared to its average volume of 373,332. Denali Therapeutics has a 52-week low of $12.32 and a 52-week high of $28.86. The business has a 50 day moving average of $19.93. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of -53.33 and a beta of 2.12. The company has a quick ratio of 11.55, a current ratio of 11.55 and a debt-to-equity ratio of 0.14.

Denali Therapeutics (NASDAQ:DNLI) last announced its earnings results on Wednesday, May 8th. The company reported ($0.41) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by ($0.01). The business had revenue of $4.21 million for the quarter, compared to analysts’ expectations of $12.88 million. Denali Therapeutics had a negative return on equity of 10.23% and a negative net margin of 38.84%. As a group, equities analysts expect that Denali Therapeutics will post -1.54 EPS for the current year.

In other news, insider Carole Ho sold 17,500 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $22.85, for a total value of $399,875.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Alexander O. Schuth sold 7,500 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $22.05, for a total value of $165,375.00. The disclosure for this sale can be found here. Insiders sold a total of 130,000 shares of company stock valued at $2,715,736 in the last quarter. Company insiders own 21.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DNLI. Baillie Gifford & Co. increased its stake in Denali Therapeutics by 0.6% during the first quarter. Baillie Gifford & Co. now owns 6,262,226 shares of the company’s stock worth $145,408,000 after acquiring an additional 34,502 shares during the last quarter. BlackRock Inc. grew its stake in shares of Denali Therapeutics by 38.3% in the fourth quarter. BlackRock Inc. now owns 4,572,695 shares of the company’s stock valued at $94,469,000 after buying an additional 1,265,645 shares in the last quarter. Lord Abbett & CO. LLC grew its stake in shares of Denali Therapeutics by 27.8% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,438,608 shares of the company’s stock valued at $29,722,000 after buying an additional 313,153 shares in the last quarter. Wasatch Advisors Inc. grew its stake in shares of Denali Therapeutics by 1,702.4% in the first quarter. Wasatch Advisors Inc. now owns 820,904 shares of the company’s stock valued at $19,061,000 after buying an additional 775,358 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Denali Therapeutics by 2.4% in the fourth quarter. Northern Trust Corp now owns 613,964 shares of the company’s stock valued at $12,685,000 after buying an additional 14,105 shares in the last quarter. Hedge funds and other institutional investors own 71.69% of the company’s stock.

About Denali Therapeutics

Denali Therapeutics Inc, a biopharmaceutical company, discovers and develops therapeutic candidates for neurodegenerative diseases in the United States. The company offers leucine-rich repeat kinase 2 (LRRK2) inhibitor product candidates, including DNL201 and DNL151, which are in Phase 1 clinical trials for Parkinson's disease.

Further Reading: Price to Earnings Ratio (PE)

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