Denali Therapeutics (NASDAQ:DNLI) Trading Up 6.4% – Still a Buy?

Shares of Denali Therapeutics Inc. (NASDAQ:DNLI) rose 6.4% during trading on Friday . The stock traded as high as $27.39 and last traded at $27.38. Approximately 242,702 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 1,106,818 shares. The stock had previously closed at $25.74.

Analyst Ratings Changes

A number of brokerages have recently weighed in on DNLI. JPMorgan Chase & Co. cut their price objective on Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating for the company in a research report on Friday. HC Wainwright restated a “buy” rating and set a $90.00 price target on shares of Denali Therapeutics in a report on Wednesday, September 4th. Bank of America upped their price objective on Denali Therapeutics from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Wedbush cut their target price on shares of Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, Citigroup upped 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. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.22.

Denali Therapeutics Trading Up 8.2 %

The stock has a market capitalization of $3.99 billion, a PE ratio of -9.56 and a beta of 1.38. The business’s 50 day moving average is $26.12 and its 200 day moving average is $22.24.

Denali Therapeutics (NASDAQ:DNLI) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.59) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.09. The business had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $10.00 million. During the same quarter in the previous year, the firm earned $1.30 EPS. Denali Therapeutics’s revenue was down 99.7% compared to the same quarter last year. As a group, analysts anticipate that Denali Therapeutics Inc. will post -2.54 EPS for the current year.

Insider Transactions at Denali Therapeutics

In other news, Director Steve E. Krognes sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $29.03, for a total transaction of $870,900.00. Following the transaction, the director now directly owns 29,096 shares of the company’s stock, valued at approximately $844,656.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 7.90% of the company’s stock.

Hedge Funds Weigh In On Denali Therapeutics

Several institutional investors have recently made changes to their positions in the company. Brandywine Managers LLC bought a new position in Denali Therapeutics in the fourth quarter worth approximately $206,000. Virtu Financial LLC bought a new stake in shares of Denali Therapeutics in the 4th quarter valued at about $334,000. University of Texas Texas AM Investment Managment Co. purchased a new position in shares of Denali Therapeutics in the 4th quarter worth approximately $653,000. Fisher Asset Management LLC purchased a new position in shares of Denali Therapeutics in the 4th quarter worth approximately $59,000. Finally, Vanguard Group Inc. raised its stake in shares of Denali Therapeutics by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 10,834,483 shares of the company’s stock worth $232,508,000 after acquiring an additional 236,702 shares in the last quarter. Hedge funds and other institutional investors own 92.92% of the company’s stock.

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.