HC Wainwright Trims Denali Therapeutics (NASDAQ:DNLI) Target Price to $90.00

Denali Therapeutics (NASDAQ:DNLI) had its target price cut by HC Wainwright from $95.00 to $90.00 in a report released on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. lifted their price target on shares of Denali Therapeutics from $28.00 to $29.00 and gave the company an overweight rating in a research note on Wednesday, July 10th. Stifel Nicolaus cut 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 note on Wednesday, May 8th. Wedbush cut their price target on shares of Denali Therapeutics from $30.00 to $26.00 and set an outperform rating on the stock in a research note on Friday, August 2nd. Citigroup lifted their price target on shares of Denali Therapeutics from $26.00 to $32.00 and gave the company a buy rating in a research note on Friday, August 2nd. Finally, UBS Group cut their price objective 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. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $39.33.

Denali Therapeutics Stock Performance

Shares of NASDAQ DNLI opened at $22.28 on Monday. Denali Therapeutics has a 52-week low of $14.56 and a 52-week high of $28.31. The firm has a 50 day moving average price of $22.11 and a 200 day moving average price of $19.74. The stock has a market cap of $3.18 billion, a P/E ratio of -23.21 and a beta of 1.40.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.59) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.09. The company had revenue of $1.00 million during the quarter, compared to the consensus estimate of $10.00 million. During the same period in the previous year, the firm posted $1.30 EPS. The business’s quarterly revenue was down 99.7% compared to the same quarter last year. Analysts predict that Denali Therapeutics will post -2.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Denali Therapeutics news, Director Steve E. Krognes sold 30,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $22.12, for a total transaction of $663,600.00. Following the sale, 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 is accessible through this hyperlink. In other Denali Therapeutics news, Director Steve E. Krognes sold 30,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $22.12, for a total transaction of $663,600.00. Following the sale, 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 is accessible through this hyperlink. Also, Director Jennifer E. Cook sold 1,458 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $21.73, for a total transaction of $31,682.34. Following the sale, the director now directly owns 20,038 shares in the company, valued at $435,425.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,146 shares of company stock valued at $710,274. 7.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Denali Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of DNLI. CWM LLC increased its holdings in shares of Denali Therapeutics by 216.7% in the fourth quarter. CWM LLC now owns 2,011 shares of the company’s stock valued at $43,000 after purchasing an additional 1,376 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Denali Therapeutics by 879.5% in the second quarter. GAMMA Investing LLC now owns 2,057 shares of the company’s stock valued at $48,000 after purchasing an additional 1,847 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Denali Therapeutics by 48.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,486 shares of the company’s stock valued at $53,000 after purchasing an additional 807 shares during the last quarter. Fisher Asset Management LLC acquired a new position in shares of Denali Therapeutics in the fourth quarter valued at $59,000. Finally, Assetmark Inc. increased its holdings in shares of Denali Therapeutics by 65.3% in the fourth quarter. Assetmark Inc. now owns 3,550 shares of the company’s stock valued at $76,000 after purchasing an additional 1,402 shares during the last quarter. 92.92% of the stock is currently owned by institutional investors and hedge funds.

About Denali Therapeutics

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.