The Goldman Sachs Group Cuts Denali Therapeutics (NASDAQ:DNLI) Price Target to $40.00

Denali Therapeutics (NASDAQ:DNLI) had its price objective decreased by investment analysts at The Goldman Sachs Group from $45.00 to $40.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 73.20% from the stock’s current price.

Several other equities analysts have also recently weighed in on the company. JPMorgan Chase & Co. lowered their target price on Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Raymond James reaffirmed a “market perform” rating on shares of Denali Therapeutics in a research note on Thursday, October 10th. Robert W. Baird initiated coverage on Denali Therapeutics in a report on Tuesday, January 7th. They issued an “outperform” rating and a $31.00 price objective on the stock. Jefferies Financial Group boosted their target price on shares of Denali Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, HC Wainwright decreased their price objective on shares of Denali Therapeutics from $90.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.00.

Denali Therapeutics Stock Performance

DNLI traded down $0.10 during trading on Tuesday, reaching $23.10. The company had a trading volume of 66,966 shares, compared to its average volume of 1,040,472. The firm’s 50-day simple moving average is $22.50 and its 200 day simple moving average is $24.84. The company has a market cap of $3.32 billion, a price-to-earnings ratio of -8.34 and a beta of 1.39. Denali Therapeutics has a 12-month low of $14.56 and a 12-month high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last released its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.03). During the same quarter in the prior year, the firm earned ($0.72) earnings per share. On average, sell-side analysts expect that Denali Therapeutics will post -2.73 EPS for the current year.

Insider Transactions at Denali Therapeutics

In other news, insider Alexander O. Schuth sold 15,558 shares of Denali Therapeutics stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $29.91, for a total value of $465,339.78. Following the transaction, the insider now directly owns 178,066 shares in the company, valued at approximately $5,325,954.06. The trade was a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steve E. Krognes sold 3,339 shares of Denali Therapeutics stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $20.81, for a total value of $69,484.59. Following the completion of the transaction, the director now owns 25,757 shares in the company, valued at $536,003.17. The trade was a 11.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 64,518 shares of company stock worth $1,469,382. Company insiders own 7.90% of the company’s stock.

Hedge Funds Weigh In On Denali Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its stake in Denali Therapeutics by 163.7% during the third quarter. Victory Capital Management Inc. now owns 39,900 shares of the company’s stock valued at $1,162,000 after acquiring an additional 24,767 shares during the period. FMR LLC increased its stake in Denali Therapeutics by 3,234.3% during the third quarter. FMR LLC now owns 7,831,378 shares of the company’s stock valued at $228,128,000 after acquiring an additional 7,596,508 shares during the period. Algert Global LLC increased its stake in Denali Therapeutics by 82.4% during the third quarter. Algert Global LLC now owns 48,630 shares of the company’s stock valued at $1,417,000 after acquiring an additional 21,975 shares during the period. Principal Financial Group Inc. increased its stake in Denali Therapeutics by 13.8% during the third quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company’s stock valued at $36,076,000 after acquiring an additional 149,939 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Denali Therapeutics by 6.5% during the third quarter. JPMorgan Chase & Co. now owns 235,386 shares of the company’s stock valued at $6,857,000 after acquiring an additional 14,324 shares during the period. 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.