Denali Therapeutics (NASDAQ:DNLI) Price Target Lowered to $28.00 at JPMorgan Chase & Co.

Denali Therapeutics (NASDAQ:DNLI) had its target price lowered by stock analysts at JPMorgan Chase & Co. from $29.00 to $28.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 5.18% from the stock’s previous close.

A number of other analysts have also weighed in on DNLI. Wedbush lowered their price objective on shares of Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. HC Wainwright reaffirmed a “buy” rating and set a $90.00 target price on shares of Denali Therapeutics in a research report on Wednesday, September 4th. Bank of America lifted their price target on Denali Therapeutics from $25.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Cantor Fitzgerald cut Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday. Finally, Raymond James reiterated a “market perform” rating on shares of Denali Therapeutics in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Denali Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $38.22.

Denali Therapeutics Stock Performance

DNLI stock traded up $0.88 during mid-day trading on Friday, reaching $26.62. 115,658 shares of the stock traded hands, compared to its average volume of 1,105,916. Denali Therapeutics has a one year low of $14.56 and a one year high of $32.13. The stock has a market capitalization of $3.81 billion, a PE ratio of -9.18 and a beta of 1.38. The business has a 50-day moving average price of $26.12 and a two-hundred day moving average price of $22.24.

Denali Therapeutics (NASDAQ:DNLI) last issued its earnings results 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 company had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $10.00 million. The firm’s revenue for the quarter was down 99.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.30 earnings per share. On average, equities analysts expect that Denali Therapeutics will post -2.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Denali Therapeutics

In other Denali Therapeutics news, Director Steve E. Krognes sold 30,000 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $29.03, for a total value of $870,900.00. Following the completion of the sale, the director now directly owns 29,096 shares of the company’s stock, valued at $844,656.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of DNLI. Capital Research Global Investors raised its holdings in shares of Denali Therapeutics by 107.9% in the 1st quarter. Capital Research Global Investors now owns 6,049,957 shares of the company’s stock valued at $124,145,000 after buying an additional 3,140,429 shares during the period. Baker BROS. Advisors LP increased its stake in Denali Therapeutics by 43.1% during the first quarter. Baker BROS. Advisors LP now owns 3,731,695 shares of the company’s stock worth $76,574,000 after purchasing an additional 1,124,499 shares during the period. Point72 Asset Management L.P. purchased a new stake in Denali Therapeutics during the second quarter worth about $24,454,000. Integral Health Asset Management LLC purchased a new position in shares of Denali Therapeutics in the second quarter valued at approximately $7,546,000. Finally, Candriam S.C.A. grew its stake in shares of Denali Therapeutics by 62.2% in the second quarter. Candriam S.C.A. now owns 726,499 shares of the company’s stock worth $16,869,000 after acquiring an additional 278,621 shares in the last quarter. Institutional investors and hedge funds own 92.92% of the company’s stock.

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.