JPMorgan Chase & Co. Lowers Denali Therapeutics (NASDAQ:DNLI) Price Target to $24.00

Denali Therapeutics (NASDAQ:DNLI) had its price objective cut by stock analysts at JPMorgan Chase & Co. from $28.00 to $24.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 12.31% from the company’s current price.

DNLI has been the topic of several other reports. Cantor Fitzgerald lowered shares of Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, October 7th. Raymond James reissued a “market perform” rating on shares of Denali Therapeutics in a report on Thursday, October 10th. HC Wainwright cut their price objective on Denali Therapeutics from $90.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday. Jefferies Financial Group increased their target price on Denali Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Stifel Nicolaus raised shares of Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a report on Monday, December 16th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.91.

Denali Therapeutics Stock Performance

Denali Therapeutics stock traded up $1.55 during midday trading on Tuesday, hitting $21.37. 1,008,020 shares of the company were exchanged, compared to its average volume of 981,916. The business has a fifty day simple moving average of $24.46 and a two-hundred day simple moving average of $24.89. The firm has a market capitalization of $3.08 billion, a PE ratio of -7.74 and a beta of 1.39. Denali Therapeutics has a fifty-two week low of $14.56 and a fifty-two week high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.03). During the same period last year, the business earned ($0.72) EPS. As a group, equities analysts expect that Denali Therapeutics will post -2.71 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Vicki L. Sato sold 1,020 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $30.00, for a total value of $30,600.00. Following the sale, the director now directly owns 111,056 shares of the company’s stock, valued at approximately $3,331,680. The trade was a 0.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan J. Watts sold 40,000 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $27.69, for a total value of $1,107,600.00. Following the transaction, the chief executive officer now owns 235,807 shares in the company, valued at $6,529,495.83. This trade represents a 14.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,658 shares of company stock worth $1,667,943. 7.90% of the stock is owned by corporate insiders.

Institutional Trading of Denali Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in shares of Denali Therapeutics by 6.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 235,386 shares of the company’s stock worth $6,857,000 after acquiring an additional 14,324 shares in the last quarter. Principal Financial Group Inc. lifted its position in Denali Therapeutics by 13.8% in the third quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company’s stock valued at $36,076,000 after acquiring an additional 149,939 shares during the last quarter. Franklin Resources Inc. boosted its stake in Denali Therapeutics by 3.8% in the third quarter. Franklin Resources Inc. now owns 80,041 shares of the company’s stock valued at $2,148,000 after acquiring an additional 2,901 shares in the last quarter. Barclays PLC grew its holdings in shares of Denali Therapeutics by 101.4% during the third quarter. Barclays PLC now owns 255,883 shares of the company’s stock worth $7,454,000 after purchasing an additional 128,823 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. purchased a new stake in shares of Denali Therapeutics in the 3rd quarter valued at about $1,894,000. Institutional investors and hedge funds 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.