Denali Therapeutics’ (DNLI) “Buy” Rating Reaffirmed at BTIG Research

Denali Therapeutics (NASDAQ:DNLI)‘s stock had its “buy” rating reissued by stock analysts at BTIG Research in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $39.00 price objective on the stock. BTIG Research‘s price target would indicate a potential upside of 100.51% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Robert W. Baird set a $34.00 price objective on shares of Denali Therapeutics in a report on Friday, August 7th. B. Riley Financial boosted their target price on shares of Denali Therapeutics from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, August 25th. Wedbush restated an “outperform” rating and issued a $26.00 target price on shares of Denali Therapeutics in a research report on Monday, July 13th. JPMorgan Chase & Co. initiated coverage on shares of Denali Therapeutics in a research note on Monday, July 13th. They issued an “overweight” rating and a $29.00 price target on the stock. Finally, Morgan Stanley lifted their price target on Denali Therapeutics from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Thirteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $35.85.

Denali Therapeutics Price Performance

Shares of NASDAQ DNLI opened at $19.45 on Wednesday. The company has a quick ratio of 8.32, a current ratio of 8.37 and a debt-to-equity ratio of 0.01. Denali Therapeutics has a 1-year low of $13.75 and a 1-year high of $27.30. The business’s fifty day moving average price is $20.42 and its two-hundred day moving average price is $21.24.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.64. The firm had revenue of $17.78 million for the quarter, compared to analyst estimates of $12.67 million. During the same period last year, the firm posted ($0.74) EPS. On average, analysts anticipate that Denali Therapeutics will post -2.70 EPS for the current fiscal year.

Insider Transactions at Denali Therapeutics

In other Denali Therapeutics news, insider Alexander O. Schuth sold 2,857 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $25.07, for a total transaction of $71,624.99. Following the transaction, the insider owned 281,763 shares of the company’s stock, valued at approximately $7,063,798.41. This trade represents a 1.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of Denali Therapeutics during the second quarter valued at approximately $360,759,000. Dimensional Fund Advisors LP lifted its position in Denali Therapeutics by 13.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,692,175 shares of the company’s stock worth $51,687,000 after purchasing an additional 317,872 shares during the period. ADAR1 Capital Management LLC lifted its position in 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 purchasing an additional 1,819,339 shares during the period. Bank of America Corp DE bought a new position in Denali Therapeutics during the 2nd quarter valued at $31,660,000. Finally, Defilade Capital Management L.P. boosted its stake in Denali Therapeutics by 107.1% during the 1st quarter. Defilade Capital Management L.P. now owns 1,359,969 shares of the company’s stock valued at $26,111,000 after purchasing an additional 703,256 shares in the last quarter. 92.92% of the stock is currently owned by institutional investors.

Denali Therapeutics Company Profile

Denali Therapeutics Inc is a biopharmaceutical company focused on discovering and developing therapies for patients with neurodegenerative diseases. The company’s research programs target conditions including Parkinson’s disease, Alzheimer’s disease, amyotrophic lateral sclerosis, and lysosomal storage disorders.

Denali uses its blood-brain barrier transport technology, known as the Transport Vehicle platform, to design medicines intended to deliver therapeutic proteins and other biologic treatments into the central nervous system.