Denali Therapeutics (NASDAQ:DNLI) Sets New 52-Week High – Time to Buy?

Denali Therapeutics Inc. (NASDAQ:DNLI)’s stock price reached a new 52-week high on Thursday . The company traded as high as $24.21 and last traded at $23.49, with a volume of 2593212 shares trading hands. The stock had previously closed at $21.93.

Analysts Set New Price Targets

A number of analysts have weighed in on DNLI shares. BTIG Research restated a “buy” rating and set a $39.00 price objective on shares of Denali Therapeutics in a research note on Monday, May 11th. The Goldman Sachs Group raised their price objective on shares of Denali Therapeutics from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, March 26th. UBS Group restated a “buy” rating on shares of Denali Therapeutics in a research note on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of Denali Therapeutics in a research note on Monday, April 20th. Finally, Wall Street Zen upgraded shares of Denali Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.25.

Denali Therapeutics Price Performance

The business’s 50 day moving average price is $19.94 and its 200 day moving average price is $19.52. The stock has a market capitalization of $3.73 billion, a P/E ratio of -8.16 and a beta of 1.03. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.28 and a quick ratio of 9.28.

Denali Therapeutics (NASDAQ:DNLI) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.69) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.04. During the same quarter in the previous year, the company posted ($0.78) earnings per share. Sell-side analysts forecast that Denali Therapeutics Inc. will post -2.77 EPS for the current year.

Institutional Trading of Denali Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank purchased a new position in shares of Denali Therapeutics in the fourth quarter worth $84,525,000. Holocene Advisors LP lifted its holdings in shares of Denali Therapeutics by 677.8% in the third quarter. Holocene Advisors LP now owns 3,135,712 shares of the company’s stock worth $45,531,000 after buying an additional 2,732,540 shares in the last quarter. ADAR1 Capital Management LLC lifted its holdings in shares of Denali Therapeutics by 3,490.9% in the first quarter. ADAR1 Capital Management LLC now owns 1,871,455 shares of the company’s stock worth $35,932,000 after buying an additional 1,819,339 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Denali Therapeutics by 77.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,835,803 shares of the company’s stock worth $63,329,000 after buying an additional 1,672,098 shares in the last quarter. Finally, Temasek Holdings Private Ltd lifted its holdings in shares of Denali Therapeutics by 30.9% in the fourth quarter. Temasek Holdings Private Ltd now owns 7,012,974 shares of the company’s stock worth $115,784,000 after buying an additional 1,657,142 shares in the last quarter. 92.92% of the stock is currently owned by institutional investors.

About Denali Therapeutics

Denali Therapeutics is a clinical?stage biopharmaceutical company focused on developing therapies for neurodegenerative diseases. The company’s research leverages a proprietary Blood–Brain Barrier Transport Vehicle (TV) platform designed to enable large molecules, including antibodies and enzymes, to penetrate the central nervous system. Denali’s approach includes small molecules, monoclonal antibodies and gene therapy candidates aimed at key drivers of disorders such as Alzheimer’s disease, Parkinson’s disease, amyotrophic lateral sclerosis (ALS) and frontotemporal dementia.

Among Denali’s lead programs is an orally delivered leucine?rich repeat kinase 2 (LRRK2) inhibitor for Parkinson’s disease, and an anti?TREM2 antibody designed to modulate microglial activity in Alzheimer’s patients.