Wedbush Cuts Denali Therapeutics (NASDAQ:DNLI) Price Target to $26.00

Denali Therapeutics (NASDAQ:DNLI) had its price target cut by Wedbush from $30.00 to $26.00 in a report released on Friday, Benzinga reports. They currently have an outperform rating on the stock.

DNLI has been the subject of several other research reports. UBS Group decreased their target price on Denali Therapeutics from $70.00 to $32.00 and set a buy rating for the company in a research note on Tuesday, April 9th. Stifel Nicolaus dropped their target price on shares of Denali Therapeutics from $26.00 to $22.00 and set a hold rating on the stock in a report on Wednesday, May 8th. JPMorgan Chase & Co. upped their price objective on Denali Therapeutics from $28.00 to $29.00 and gave the stock an overweight rating in a research report on Wednesday, July 10th. Finally, HC Wainwright reissued a buy rating and issued a $95.00 price objective on shares of Denali Therapeutics in a research report on Wednesday, May 8th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $39.33.

Denali Therapeutics Stock Down 1.1 %

DNLI stock traded down $0.23 during trading on Friday, hitting $21.64. 1,205,904 shares of the company’s stock traded hands, compared to its average volume of 1,178,640. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of -22.57 and a beta of 1.40. The stock has a fifty day moving average price of $21.85 and a two-hundred day moving average price of $19.64. Denali Therapeutics has a 52 week low of $14.56 and a 52 week high of $28.31.

Denali Therapeutics (NASDAQ:DNLI) last released its earnings results on Thursday, August 1st. The company reported ($0.59) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.09. The firm had revenue of $1.00 million during the quarter, compared to analyst estimates of $10.00 million. The business’s revenue for the quarter was down 99.7% on a year-over-year basis. During the same quarter last year, the company earned $1.30 earnings per share. As a group, equities research analysts expect that Denali Therapeutics will post -2.77 EPS for the current fiscal year.

Insiders Place Their Bets

In other Denali Therapeutics news, Director Jennifer E. Cook sold 1,458 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $21.73, for a total transaction of $31,682.34. Following the completion of the sale, the director now owns 20,038 shares in the company, valued at approximately $435,425.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Steve E. Krognes sold 30,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $22.12, for a total transaction of $663,600.00. Following the transaction, the director now directly owns 34,404 shares of the company’s stock, valued at $761,016.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jennifer E. Cook sold 1,458 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $21.73, for a total transaction of $31,682.34. Following the transaction, the director now owns 20,038 shares in the company, valued at $435,425.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,146 shares of company stock worth $710,274. Corporate insiders own 7.90% of the company’s stock.

Institutional Trading of Denali Therapeutics

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Denali Therapeutics by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 10,968,293 shares of the company’s stock worth $225,069,000 after acquiring an additional 133,810 shares during the last quarter. Capital Research Global Investors increased its position in shares of Denali Therapeutics by 107.9% in the first quarter. Capital Research Global Investors now owns 6,049,957 shares of the company’s stock valued at $124,145,000 after acquiring an additional 3,140,429 shares during the period. Baker BROS. Advisors LP raised its stake in shares of Denali Therapeutics by 43.1% during the first quarter. Baker BROS. Advisors LP now owns 3,731,695 shares of the company’s stock valued at $76,574,000 after acquiring an additional 1,124,499 shares during the last quarter. Norges Bank purchased a new stake in shares of Denali Therapeutics during the fourth quarter worth about $24,736,000. Finally, Principal Financial Group Inc. raised its position in Denali Therapeutics by 4.5% during the 1st quarter. Principal Financial Group Inc. now owns 1,122,536 shares of the company’s stock valued at $23,034,000 after purchasing an additional 48,832 shares during the last quarter. 92.92% of the stock is currently 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.