JPMorgan Chase & Co. Boosts Denali Therapeutics (NASDAQ:DNLI) Price Target to $29.00

Denali Therapeutics (NASDAQ:DNLI) had its price target increased by JPMorgan Chase & Co. from $28.00 to $29.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts also recently issued research reports about the stock. UBS Group reduced their price target on shares of Denali Therapeutics from $70.00 to $32.00 and set a buy rating on the stock in a research report on Tuesday, April 9th. Stifel Nicolaus reduced their price target on shares of Denali Therapeutics from $26.00 to $22.00 and set a hold rating on the stock in a research report on Wednesday, May 8th. Wedbush reduced their price target on shares of Denali Therapeutics from $31.00 to $30.00 and set an outperform rating on the stock in a research report on Wednesday, May 8th. Finally, HC Wainwright reiterated a buy rating and set a $95.00 price target on shares of Denali Therapeutics in a research report on Wednesday, May 8th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Denali Therapeutics presently has an average rating of Moderate Buy and a consensus price target of $40.33.

Denali Therapeutics Stock Performance

Shares of NASDAQ:DNLI opened at $22.86 on Wednesday. Denali Therapeutics has a 52 week low of $14.56 and a 52 week high of $30.79. The company’s fifty day moving average is $20.62 and its 200-day moving average is $19.30. The company has a market capitalization of $3.26 billion, a PE ratio of -23.81 and a beta of 1.40.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.68) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.01. During the same quarter last year, the company posted ($0.80) EPS. On average, analysts forecast that Denali Therapeutics will post -2.78 EPS for the current year.

Insider Activity

In other news, Director Jennifer E. Cook sold 1,458 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $21.73, for a total value of $31,682.34. Following the completion of the sale, the director now directly owns 20,038 shares of the company’s stock, valued at approximately $435,425.74. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Steve E. Krognes sold 30,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $22.12, for a total transaction of $663,600.00. Following the completion of the sale, the director now directly owns 34,404 shares of the company’s stock, valued at approximately $761,016.48. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jennifer E. Cook sold 1,458 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $21.73, for a total value of $31,682.34. Following the sale, the director now directly owns 20,038 shares of the company’s stock, valued at $435,425.74. The disclosure for this sale can be found here. Insiders sold a total of 33,812 shares of company stock valued at $740,745 in the last ninety days. 7.90% of the stock is owned by insiders.

Institutional Trading of Denali Therapeutics

Large investors have recently bought and sold shares of the business. CWM LLC increased its stake in Denali Therapeutics by 216.7% during the 4th quarter. CWM LLC now owns 2,011 shares of the company’s stock worth $43,000 after purchasing an additional 1,376 shares in the last quarter. GAMMA Investing LLC boosted its position in Denali Therapeutics by 879.5% during the 2nd quarter. GAMMA Investing LLC now owns 2,057 shares of the company’s stock worth $48,000 after acquiring an additional 1,847 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Denali Therapeutics by 48.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,486 shares of the company’s stock worth $53,000 after acquiring an additional 807 shares during the last quarter. Fisher Asset Management LLC acquired a new position in Denali Therapeutics during the 4th quarter worth approximately $59,000. Finally, Assetmark Inc. boosted its position in Denali Therapeutics by 65.3% during the 4th quarter. Assetmark Inc. now owns 3,550 shares of the company’s stock worth $76,000 after acquiring an additional 1,402 shares during the last quarter. 92.92% of the stock is owned by 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.