Robert W. Baird Lowers Denali Therapeutics (NASDAQ:DNLI) Price Target to $29.00

Denali Therapeutics (NASDAQ:DNLI) had its target price decreased by analysts at Robert W. Baird from $30.00 to $29.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price target would indicate a potential upside of 101.53% from the company’s current price.

A number of other research firms have also recently issued reports on DNLI. Cantor Fitzgerald raised Denali Therapeutics from a “neutral” rating to an “overweight” rating in a report on Thursday, April 10th. HC Wainwright reduced their target price on shares of Denali Therapeutics from $80.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday. Wedbush lowered their price target on shares of Denali Therapeutics from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday. B. Riley reaffirmed a “buy” rating and set a $35.00 price objective (down previously from $38.00) on shares of Denali Therapeutics in a report on Wednesday, March 5th. Finally, William Blair raised Denali Therapeutics to a “strong-buy” rating in a research note on Thursday, April 24th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Denali Therapeutics currently has an average rating of “Buy” and an average target price of $33.79.

Denali Therapeutics Stock Down 0.3 %

Shares of DNLI stock opened at $14.39 on Thursday. The company has a market capitalization of $2.09 billion, a P/E ratio of -5.21 and a beta of 1.49. Denali Therapeutics has a 12-month low of $10.57 and a 12-month high of $33.33. The firm has a 50-day moving average price of $14.27 and a 200 day moving average price of $20.08.

Denali Therapeutics (NASDAQ:DNLI) last posted its earnings results on Tuesday, May 6th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.07). During the same quarter in the prior year, the company posted ($0.68) EPS. As a group, research analysts expect that Denali Therapeutics will post -2.71 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. KLP Kapitalforvaltning AS acquired a new position in Denali Therapeutics during the 4th quarter worth approximately $532,000. Proficio Capital Partners LLC acquired a new position in Denali Therapeutics during the fourth quarter worth $514,000. JPMorgan Chase & Co. grew its position in Denali Therapeutics by 6.5% in the third quarter. JPMorgan Chase & Co. now owns 235,386 shares of the company’s stock valued at $6,857,000 after purchasing an additional 14,324 shares in the last quarter. Principal Financial Group Inc. lifted its position in Denali Therapeutics by 13.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company’s stock worth $36,076,000 after buying an additional 149,939 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Denali Therapeutics by 7.6% during the 4th quarter. Vanguard Group Inc. now owns 12,021,230 shares of the company’s stock worth $244,993,000 after buying an additional 843,996 shares during the last quarter. 92.92% of the stock is currently owned by institutional investors.

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.