Analysts Set Denali Therapeutics Inc. (NASDAQ:DNLI) Target Price at $33.79

Shares of Denali Therapeutics Inc. (NASDAQ:DNLI) have been assigned an average rating of “Buy” from the seventeen ratings firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, fourteen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $33.71.

DNLI has been the topic of several analyst reports. Bank of America decreased their target price on shares of Denali Therapeutics from $28.00 to $27.00 and set a “buy” rating on the stock in a research note on Monday. Robert W. Baird decreased their price objective on shares of Denali Therapeutics from $30.00 to $29.00 and set an “outperform” rating on the stock in a research report on Thursday, May 8th. Wedbush dropped their target price on shares of Denali Therapeutics from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft started coverage on Denali Therapeutics in a report on Tuesday, February 11th. They set a “buy” rating and a $31.00 price target on the stock. Finally, Morgan Stanley initiated coverage on Denali Therapeutics in a report on Friday, March 7th. They issued an “overweight” rating and a $33.00 price objective for the company.

Institutional Investors Weigh In On Denali Therapeutics

Several hedge funds have recently bought and sold shares of the business. Sterling Capital Management LLC lifted its holdings in shares of Denali Therapeutics by 589.9% during the fourth quarter. Sterling Capital Management LLC now owns 1,773 shares of the company’s stock valued at $36,000 after purchasing an additional 1,516 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in Denali Therapeutics by 277.0% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 2,111 shares of the company’s stock valued at $29,000 after buying an additional 1,551 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Denali Therapeutics during the first quarter valued at $41,000. GF Fund Management CO. LTD. bought a new stake in Denali Therapeutics in the fourth quarter worth $62,000. Finally, Point72 Hong Kong Ltd bought a new stake in Denali Therapeutics in the fourth quarter worth $65,000. Institutional investors own 92.92% of the company’s stock.

Denali Therapeutics Stock Up 0.9%

NASDAQ DNLI opened at $13.91 on Thursday. The company has a 50-day simple moving average of $14.07 and a two-hundred day simple moving average of $19.46. Denali Therapeutics has a 12-month low of $10.57 and a 12-month high of $33.33. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of -5.04 and a beta of 1.49.

Denali Therapeutics (NASDAQ:DNLI) last issued its earnings results 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 in the prior year, the firm posted ($0.68) earnings per share. Equities analysts expect that Denali Therapeutics will post -2.71 earnings per share for the current fiscal year.

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.