Denali Therapeutics (NASDAQ:DNLI) Stock Price Target Lowered at Morgan Stanley

Denali Therapeutics (NASDAQ:DNLI) had its target price reduced by Morgan Stanley from $42.00 to $37.00 in a research report released on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts also recently issued reports on DNLI. B. Riley Financial upped their price objective on shares of Denali Therapeutics from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, August 25th. Wall Street Zen upgraded Denali Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, October 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Denali Therapeutics in a research note on Thursday, October 15th. Wells Fargo & Company assumed coverage on Denali Therapeutics in a research report on Friday. They issued an “overweight” rating and a $35.00 target price for the company. Finally, UBS Group raised their target price on Denali Therapeutics from $25.00 to $34.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Denali Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $35.71.

Denali Therapeutics Stock Down 0.8%

Shares of DNLI stock traded down $0.15 on Friday, hitting $18.74. The stock had a trading volume of 795,673 shares, compared to its average volume of 1,678,008. The business has a 50 day moving average of $19.77 and a 200 day moving average of $21.25. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of -10.83 and a beta of 1.08. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.21 and a quick ratio of 5.94. Denali Therapeutics has a 12-month low of $15.34 and a 12-month high of $27.30.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.64. The firm had revenue of $17.78 million for the quarter, compared to the consensus estimate of $12.67 million. During the same period in the previous year, the business earned ($0.74) earnings per share. As a group, analysts expect that Denali Therapeutics will post -2.62 EPS for the current year.

Insider Buying and Selling at Denali Therapeutics

In other news, insider Alexander O. Schuth sold 2,768 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $23.44, for a total transaction of $64,881.92. Following the completion of the transaction, the insider directly owned 278,995 shares in the company, valued at $6,539,642.80. The trade was a 0.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Denali Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Denali Therapeutics during the 2nd quarter valued at about $26,000. Global Retirement Partners LLC bought a new stake in Denali Therapeutics during the second quarter valued at approximately $28,000. Nykredit A S bought a new stake in Denali Therapeutics during the second quarter valued at approximately $38,000. Manchester Capital Management LLC grew its stake in Denali Therapeutics by 5,505.6% in the 3rd quarter. Manchester Capital Management LLC now owns 2,018 shares of the company’s stock worth $42,000 after buying an additional 1,982 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Denali Therapeutics by 44.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,236 shares of the company’s stock worth $46,000 after buying an additional 687 shares in the last quarter. 92.92% of the stock is currently owned by institutional investors.

About Denali Therapeutics

Denali Therapeutics is a biotechnology company focused on developing medicines for neurodegenerative diseases and other disorders involving the nervous system. Founded in 2015, the company is headquartered in South San Francisco, California. Its research and development programs target conditions including Alzheimer’s disease, Parkinson’s disease, amyotrophic lateral sclerosis and lysosomal storage disorders. Denali’s portfolio includes investigational drug candidates that aim to address underlying disease processes, as well as its TransportVehicle platform, designed to help therapeutic molecules cross the blood-brain barrier.