Denali Therapeutics (NASDAQ:DNLI) Price Target Increased to $32.00 by Analysts at Citigroup

Denali Therapeutics (NASDAQ:DNLI) had its target price raised by Citigroup from $26.00 to $32.00 in a report published on Friday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other brokerages also recently weighed in on DNLI. JPMorgan Chase & Co. raised their target price on Denali Therapeutics from $28.00 to $29.00 and gave the company an overweight rating in a research note on Wednesday, July 10th. Stifel Nicolaus lowered their target price on Denali Therapeutics from $26.00 to $22.00 and set a hold rating for the company in a research note on Wednesday, May 8th. UBS Group lowered their target price on Denali Therapeutics from $70.00 to $32.00 and set a buy rating for the company in a research note on Tuesday, April 9th. Wedbush reduced their price target on shares of Denali Therapeutics from $30.00 to $26.00 and set an outperform rating on the stock in a research report on Friday. Finally, HC Wainwright reaffirmed a buy rating and set a $95.00 price target on shares of Denali Therapeutics in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Denali Therapeutics currently has a consensus rating of Moderate Buy and a consensus price target of $39.33.

Denali Therapeutics Stock Up 1.2 %

Shares of Denali Therapeutics stock traded up $0.25 during trading hours on Friday, hitting $21.89. 383,550 shares of the company’s stock traded hands, compared to its average volume of 1,173,340. The stock has a 50 day simple moving average of $21.85 and a 200-day simple moving average of $19.64. The company has a market cap of $3.12 billion, a PE ratio of -22.54 and a beta of 1.40. Denali Therapeutics has a twelve month low of $14.56 and a twelve month high of $28.31.

Denali Therapeutics (NASDAQ:DNLI) last announced its earnings results on Thursday, August 1st. The company reported ($0.59) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.09. The business had revenue of $1.00 million for the quarter, compared to analyst estimates of $10.00 million. The firm’s revenue was down 99.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.30 earnings per share. As a group, equities research analysts predict that Denali Therapeutics will post -2.77 EPS for the current year.

Insider Transactions at Denali Therapeutics

In other Denali Therapeutics news, Director Jennifer E. Cook sold 1,458 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $21.73, for a total value of $31,682.34. Following the transaction, the director now owns 20,038 shares of the company’s stock, valued at $435,425.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Denali Therapeutics news, Director Steve E. Krognes sold 30,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $22.12, for a total value of $663,600.00. Following the transaction, the director now owns 34,404 shares of the company’s stock, valued at $761,016.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jennifer E. Cook sold 1,458 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $21.73, for a total transaction of $31,682.34. Following the completion of the transaction, the director now directly owns 20,038 shares in the company, valued at approximately $435,425.74. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,146 shares of company stock valued at $710,274. Insiders own 7.90% of the company’s stock.

Hedge Funds Weigh In On Denali Therapeutics

A number of large investors have recently bought and sold shares of the business. Candriam S.C.A. lifted its holdings in Denali Therapeutics by 62.2% in the second quarter. Candriam S.C.A. now owns 726,499 shares of the company’s stock worth $16,869,000 after acquiring an additional 278,621 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Denali Therapeutics by 9.0% during the second quarter. Arizona State Retirement System now owns 33,114 shares of the company’s stock valued at $769,000 after buying an additional 2,730 shares during the last quarter. TD Asset Management Inc raised its holdings in shares of Denali Therapeutics by 4.5% during the second quarter. TD Asset Management Inc now owns 179,152 shares of the company’s stock valued at $4,160,000 after buying an additional 7,766 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Denali Therapeutics by 13.3% during the second quarter. Rhumbline Advisers now owns 194,859 shares of the company’s stock valued at $4,525,000 after buying an additional 22,900 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Denali Therapeutics by 5.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,403 shares of the company’s stock valued at $613,000 after buying an additional 1,372 shares during the last quarter. Institutional investors own 92.92% of the company’s stock.

Denali Therapeutics Company Profile

Denali Therapeutics Inc, a biopharmaceutical company, develops a portfolio of product candidates engineered to cross the blood-brain barrier for neurodegenerative diseases and lysosomal storage diseases in the United States. The company's transport vehicle (TV)-enabled programs include DNL310 ETV, an IDS enzyme replacement therapy program for MPS II; TAK-594/DNL593 which is in Phase 1/II for frontotemporal dementia-granulin; DNL126 program for MPS IIIA; and DNL622 for MPS I, as well as other preclinical programs that target amyloid beta and HER2.