Denali Therapeutics (NASDAQ:DNLI) Price Target Lowered to $30.00 at Morgan Stanley

Denali Therapeutics (NASDAQ:DNLI) had its price target reduced by Morgan Stanley from $33.00 to $30.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

DNLI has been the topic of several other research reports. Robert W. Baird cut their price objective on Denali Therapeutics from $30.00 to $29.00 and set an “outperform” rating on the stock in a report on Thursday, May 8th. William Blair upgraded Denali Therapeutics to a “strong-buy” rating in a report on Thursday, April 24th. Wedbush cut their price objective on Denali Therapeutics from $32.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. Bank of America cut their price objective on Denali Therapeutics from $28.00 to $27.00 and set a “buy” rating on the stock in a report on Monday, May 19th. Finally, TD Cowen upgraded Denali Therapeutics to a “strong-buy” rating in a report on Monday, July 28th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $33.62.

Denali Therapeutics Price Performance

NASDAQ:DNLI opened at $14.51 on Monday. Denali Therapeutics has a 52 week low of $10.57 and a 52 week high of $33.33. The company has a quick ratio of 10.27, a current ratio of 10.27 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $2.12 billion, a P/E ratio of -5.18 and a beta of 1.36. The stock’s fifty day moving average is $14.28 and its two-hundred day moving average is $15.18.

Denali Therapeutics (NASDAQ:DNLI) last posted its earnings results on Monday, August 11th. The company reported ($0.72) EPS for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.02. During the same period in the previous year, the company posted ($0.59) earnings per share. Equities analysts expect that Denali Therapeutics will post -2.71 EPS for the current year.

Insider Buying and Selling

In other news, CEO Ryan J. Watts sold 495,282 shares of the company’s stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $15.00, for a total transaction of $7,429,230.00. Following the completion of the transaction, the chief executive officer directly owned 253,071 shares of the company’s stock, valued at approximately $3,796,065. This represents a 66.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Carole Ho sold 2,937 shares of the company’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $13.58, for a total value of $39,884.46. Following the transaction, the insider directly owned 217,391 shares of the company’s stock, valued at approximately $2,952,169.78. This represents a 1.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 501,962 shares of company stock valued at $7,520,799 in the last three months. 12.50% of the stock is owned by corporate insiders.

Institutional Trading of Denali Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Headlands Technologies LLC purchased a new position in shares of Denali Therapeutics during the 2nd quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Denali Therapeutics by 277.0% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 2,111 shares of the company’s stock worth $29,000 after buying an additional 1,551 shares in the last quarter. State of Wyoming purchased a new position in shares of Denali Therapeutics during the 2nd quarter worth approximately $29,000. Sterling Capital Management LLC grew its holdings in shares of Denali Therapeutics by 589.9% in the 4th quarter. Sterling Capital Management LLC now owns 1,773 shares of the company’s stock worth $36,000 after acquiring an additional 1,516 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in Denali Therapeutics in the 1st quarter valued at approximately $41,000. 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.