HC Wainwright Issues Pessimistic Forecast for Denali Therapeutics (NASDAQ:DNLI) Stock Price

Denali Therapeutics (NASDAQ:DNLI) had its price objective lowered by stock analysts at HC Wainwright from $90.00 to $87.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target would indicate a potential upside of 338.95% from the stock’s current price.

Other equities analysts have also issued reports about the company. Cantor Fitzgerald lowered Denali Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, October 7th. JPMorgan Chase & Co. reduced their price objective on Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Stifel Nicolaus upgraded Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research note on Monday, December 16th. Jefferies Financial Group boosted their price target on shares of Denali Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Raymond James reiterated a “market perform” rating on shares of Denali Therapeutics in a research note on Thursday, October 10th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Denali Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $39.27.

Denali Therapeutics Trading Down 6.8 %

Shares of NASDAQ:DNLI opened at $19.82 on Tuesday. Denali Therapeutics has a 1-year low of $14.56 and a 1-year high of $33.33. The stock has a market cap of $2.85 billion, a PE ratio of -7.18 and a beta of 1.39. The stock’s fifty day simple moving average is $24.46 and its two-hundred day simple moving average is $24.89.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.03). During the same quarter in the prior year, the company earned ($0.72) EPS. On average, sell-side analysts forecast that Denali Therapeutics will post -2.71 earnings per share for the current fiscal year.

Insider Activity at Denali Therapeutics

In other news, insider Alexander O. Schuth sold 15,558 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $29.91, for a total value of $465,339.78. Following the completion of the transaction, the insider now directly owns 178,066 shares of the company’s stock, valued at $5,325,954.06. This trade represents a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Vicki L. Sato sold 1,020 shares of the business’s stock in a transaction 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 owns 111,056 shares in the company, valued at approximately $3,331,680. The trade was a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,658 shares of company stock worth $1,667,943. Corporate insiders own 7.90% of the company’s stock.

Institutional Investors Weigh In On Denali Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. CWM LLC increased its holdings in Denali Therapeutics by 43.6% during the 3rd quarter. CWM LLC now owns 2,153 shares of the company’s stock worth $63,000 after acquiring an additional 654 shares during the period. Quest Partners LLC bought a new position in shares of Denali Therapeutics in the third quarter worth $73,000. Assetmark Inc. increased its holdings in shares of Denali Therapeutics by 18.0% in the third quarter. Assetmark Inc. now owns 3,808 shares of the company’s stock worth $111,000 after purchasing an additional 580 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Denali Therapeutics by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,178 shares of the company’s stock worth $152,000 after buying an additional 920 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Denali Therapeutics during the second quarter valued at $194,000. 92.92% of the stock is owned by hedge funds and other institutional investors.

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.