Denali Therapeutics (NASDAQ:DNLI) Raised to Hold at Wall Street Zen

Denali Therapeutics (NASDAQ:DNLI) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other research analysts have also weighed in on DNLI. UBS Group upped their price target on Denali Therapeutics from $25.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Stifel Nicolaus set a $41.00 price objective on Denali Therapeutics in a research report on Monday, June 22nd. Sanford C. Bernstein reaffirmed a “hold” rating on shares of Denali Therapeutics in a research note on Monday, June 22nd. JPMorgan Chase & Co. assumed coverage on Denali Therapeutics in a report on Monday, July 13th. They issued an “overweight” rating and a $29.00 target price on the stock. Finally, Morgan Stanley increased their price target on shares of Denali Therapeutics from $35.00 to $36.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Thirteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Denali Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $35.85.

Denali Therapeutics Stock Performance

NASDAQ DNLI opened at $19.72 on Friday. Denali Therapeutics has a twelve month low of $12.58 and a twelve month high of $27.30. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.32 and a current ratio of 8.37. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of -6.94 and a beta of 1.01. The firm’s 50 day moving average price is $23.42 and its two-hundred day moving average price is $21.87.

Denali Therapeutics (NASDAQ:DNLI) last announced its earnings results on Thursday, August 6th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.17). The business had revenue of $3.60 million for the quarter, compared to the consensus estimate of $2.15 million. During the same quarter in the prior year, the business posted ($0.72) earnings per share. Equities analysts anticipate that Denali Therapeutics will post -2.67 EPS for the current year.

Insider Activity

In related news, insider Alexander O. Schuth sold 2,768 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $23.44, for a total value of $64,881.92. Following the completion of the sale, the insider owned 278,995 shares of the company’s stock, valued at approximately $6,539,642.80. The trade was a 0.98% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through 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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of Denali Therapeutics during the second quarter worth approximately $360,759,000. Temasek Holdings Private Ltd boosted its stake in Denali Therapeutics by 30.9% in the fourth quarter. Temasek Holdings Private Ltd now owns 7,012,974 shares of the company’s stock valued at $115,784,000 after acquiring an additional 1,657,142 shares during the last quarter. Norges Bank bought a new position in Denali Therapeutics in the fourth quarter valued at approximately $84,525,000. Dimensional Fund Advisors LP grew its holdings in Denali Therapeutics by 13.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,692,175 shares of the company’s stock worth $51,687,000 after acquiring an additional 317,872 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in Denali Therapeutics by 58.7% during the 4th quarter. Fisher Asset Management LLC now owns 2,589,403 shares of the company’s stock worth $42,751,000 after acquiring an additional 957,907 shares during the period. Institutional investors own 92.92% of the company’s stock.

About Denali Therapeutics

Denali Therapeutics Inc is a biotechnology company focused on discovering and developing medicines for patients with neurodegenerative diseases. The company is headquartered in South San Francisco, California, and was founded in 2013 by a team that included Chief Executive Officer Ryan Watts.

Denali’s research is built around its blood-brain barrier transport technologies, which are designed to help therapeutic molecules reach the brain. The company applies these technologies to potential treatments for conditions including Parkinson’s disease, Alzheimer’s disease, amyotrophic lateral sclerosis, lysosomal storage disorders and other neurodegenerative diseases.

Its pipeline has included investigational therapies directed at targets such as LRRK2, TREM2 and RIPK1, as well as enzyme-replacement approaches intended to improve delivery of treatments to the central nervous system.