Wall Street Zen upgraded shares of Denali Therapeutics (NASDAQ:DNLI – Free Report) from a sell rating to a hold rating in a report published on Saturday,Wall Street Zen reports.
A number of other brokerages also recently issued reports on DNLI. Morgan Stanley lifted their price target on shares of Denali Therapeutics from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. UBS Group boosted their target price on Denali Therapeutics from $25.00 to $34.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft increased their price target on Denali Therapeutics from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Denali Therapeutics in a research note on Friday, July 17th. Finally, Stifel Nicolaus set a $41.00 price objective on Denali Therapeutics in a report on Monday, June 22nd. Thirteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.85.
Read Our Latest Analysis on DNLI
Denali Therapeutics Stock Performance
Denali Therapeutics (NASDAQ:DNLI – Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.17). The company had revenue of $3.60 million during the quarter, compared to the consensus estimate of $2.15 million. During the same quarter in the previous year, the business earned ($0.72) earnings per share. Equities research analysts forecast that Denali Therapeutics will post -2.67 EPS for the current fiscal year.
Insider Activity
In related news, insider Alexander O. Schuth sold 2,768 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $23.44, for a total value of $64,881.92. Following the completion of the transaction, the insider owned 278,995 shares of the company’s stock, valued at approximately $6,539,642.80. This trade represents a 0.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 9.70% of the company’s stock.
Institutional Investors Weigh In On Denali Therapeutics
Several large investors have recently added to or reduced their stakes in the stock. Engineers Gate Manager LP lifted its position in Denali Therapeutics by 256.5% in the second quarter. Engineers Gate Manager LP now owns 57,430 shares of the company’s stock worth $1,477,000 after buying an additional 41,320 shares during the last quarter. Integrated Wealth Concepts LLC increased its position in Denali Therapeutics by 2.7% during the second quarter. Integrated Wealth Concepts LLC now owns 102,241 shares of the company’s stock valued at $2,630,000 after acquiring an additional 2,687 shares during the last quarter. Allworth Financial LP raised its stake in shares of Denali Therapeutics by 555.0% in the second quarter. Allworth Financial LP now owns 1,834 shares of the company’s stock valued at $47,000 after acquiring an additional 1,554 shares during the period. Nykredit A S purchased a new stake in shares of Denali Therapeutics in the second quarter valued at $38,000. Finally, Corient Private Wealth LP bought a new stake in shares of Denali Therapeutics in the 2nd quarter worth about $301,000. 92.92% of the stock is owned by institutional investors.
Denali Therapeutics Company Profile
Denali Therapeutics Inc is a biotechnology company focused on discovering and developing medicines for patients with neurodegenerative diseases. The company is headquartered in South San Francisco, California, and was founded in 2013 by a team that included Chief Executive Officer Ryan Watts.
Denali’s research is built around its blood-brain barrier transport technologies, which are designed to help therapeutic molecules reach the brain. The company applies these technologies to potential treatments for conditions including Parkinson’s disease, Alzheimer’s disease, amyotrophic lateral sclerosis, lysosomal storage disorders and other neurodegenerative diseases.
Its pipeline has included investigational therapies directed at targets such as LRRK2, TREM2 and RIPK1, as well as enzyme-replacement approaches intended to improve delivery of treatments to the central nervous system.
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