Bank of America Cuts Denali Therapeutics (NASDAQ:DNLI) Price Target to $27.00

Denali Therapeutics (NASDAQ:DNLI) had its price target reduced by analysts at Bank of America from $28.00 to $27.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price objective would indicate a potential upside of 94.24% from the stock’s current price.

DNLI has been the topic of several other research reports. Cantor Fitzgerald upgraded Denali Therapeutics from a “neutral” rating to an “overweight” rating in a research report on Thursday, April 10th. Deutsche Bank Aktiengesellschaft initiated coverage on Denali Therapeutics in a research report on Tuesday, February 11th. They set a “buy” rating and a $31.00 target price on the stock. Morgan Stanley initiated coverage on Denali Therapeutics in a research report on Friday, March 7th. They set an “overweight” rating and a $33.00 target price on the stock. Oppenheimer dropped their target price on Denali Therapeutics from $50.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. Finally, Wedbush dropped their target price on Denali Therapeutics from $32.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. One research 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. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $33.71.

Denali Therapeutics Trading Up 0.9%

Shares of DNLI stock traded up $0.12 during trading on Monday, hitting $13.90. The company’s stock had a trading volume of 323,976 shares, compared to its average volume of 1,094,245. The business has a fifty day moving average of $14.11 and a 200-day moving average of $19.55. Denali Therapeutics has a 52 week low of $10.57 and a 52 week high of $33.33. The company has a market cap of $2.02 billion, a PE ratio of -5.04 and a beta of 1.49.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.07). During the same quarter last year, the company earned ($0.68) earnings per share. As a group, research analysts predict that Denali Therapeutics will post -2.71 EPS for the current year.

Institutional Investors Weigh In On Denali Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS purchased a new position in shares of Denali Therapeutics in the fourth quarter worth about $532,000. Proficio Capital Partners LLC bought a new stake in Denali Therapeutics during the 4th quarter valued at approximately $514,000. Vanguard Group Inc. boosted its position in shares of Denali Therapeutics by 7.6% in the 4th quarter. Vanguard Group Inc. now owns 12,021,230 shares of the company’s stock worth $244,993,000 after purchasing an additional 843,996 shares in the last quarter. Barclays PLC boosted its position in shares of Denali Therapeutics by 101.4% in the 3rd quarter. Barclays PLC now owns 255,883 shares of the company’s stock worth $7,454,000 after purchasing an additional 128,823 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Denali Therapeutics in the 4th quarter worth approximately $21,717,000. 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.